Subscribe to the print edition of National Mortgage Professional MagazineSubscribe to our RSS feedFollow us on TwitterGet daily updates via emailJoin us on Facebook

Originations

Rates Diverging According to HSH.com

Home and Scale Pic

Rates on the most popular types of mortgages shifted slightly in opposite directions but remained trendless, according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages fell by three basis points (0.03 percent) to 4.18 percent. Conforming 5/1 Hybrid ARM rates increased by a single basis point, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.16 percent.Click to continue

Zillow: Fixed-Rates Drop Down to Near Four Percent

Key_Pic

The 30-year fixed mortgage rate on Zillow Mortgages is currently 4.04 percent, up seven basis points from this time last week. The 30-year fixed mortgage rate steadily rose last week, peaking at 4.17 percent on Monday before easing back down to the current rate on Tuesday.Click to continue

Cash-Out Refis Tick Higher as Boom Ends

House Atop Money/Credit: Creatas

Freddie Mac has released the results of its second quarter 2014 quarterly refinance analysis, showing that borrowers will save in aggregate more than $1 billion in interest payments over the coming year, as borrowers continued to shorten their payment terms and build equity in their homes.Click to continue

Rise in Home Prices Slows in May

For Sale Sign/Credit: Medioimages/Photodisc

Data through May 2014, released by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show the Composite Indices increased at a slower pace. The 10-City Composite gained 9.4 percent year-over-year and the 20-City 9.3 percent, down significantly from the +10.9 percent and +10.8 percent returns reported last month. All cities with the exception of Charlotte and Tampa saw their annual rates decelerate.Click to continue

Pending Home Sales Dip Modestly in June

House Money in Hands

After three consecutive months of solid gains, pending home sales slowed modestly in June, according to the National Association of RealtorsThe Pending Home Sales Index, a forward-looking indicator based on contract signings, declined 1.1 percent to 102.7 in June from 103.8 in May, and is 7.3 percent below June 2013 (110.8).Click to continue

Home Sales Dip Over Eight Percent For Month of June

Home For Sale Pic

Sales of newly built, single-family homes fell 8.1 percent to a seasonally adjusted annual rate of 406,000 units in June, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Sales numbers for May were revised downward to 442,000.Click to continue

Number Crunched: Is Industry Data Adding Up?

463510713.jpg

The acclaimed writer and futurist Alvin Toffler once remarked, “You can use all the quantitative data you can get, but you still have to distrust it and use your own intelligence and judgment.”

Of course, Toffler was not talking about surplus amount of data relating to the housing industry and the mortgage market. However, the excess quantity of data servings sometimes creates a contradictory picture, creating both confusion and bemusement across the industry.Click to continue

Popular Product Rates Tick Upward, According to HSH

For Sale/Credit: Stockbyte

Rates on the most popular types of mortgages ticked slightly upward, according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages rose by a single basis point (0.01 percent) to 4.21 percent. Conforming 5/1 Hybrid ARM rates increased by two basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.15 percent.Click to continue