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Sales

Making Lemonade From a Lemon-Level Rate Picture

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The latest mortgage rate data from Freddie Mac is anything but sweet. And while there is little evidence that the picture will substantially improve in the immediate future, there is some movement across the industry to find other ways to successfully expand bottom lines.Click to continue

July Home Sales Indicate Rebound According to NAR

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Pending home sales rebounded in July and have now risen in four of the last five months, according to the National Association of Realtors. All major regions experienced healthy gains except for the Midwest, which saw a slight decline.Click to continue

Rates Begin to Level on Zillow Marketplace

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The 30-year fixed mortgage rate on Zillow Mortgages is currently 4.08 percent, up two basis points from this time last week. The 30-year fixed mortgage rate rose early last week, peaking at 4.23 percent on Wednesday before falling to the current rate on Tuesday.Click to continue

HSH.com: Mortgage Rates Level Off

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Rates on the most popular types of mortgages held nearly still 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 4.19 percent. Conforming 5/1 Hybrid ARM rates remained unchanged for the week, holding at an average of 3.14 percent for the period.Click to continue

Mortgage Banker Profits Back on the Rise in Q2

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Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $954 on each loan they originated in the second quarter of 2014, up from a reported loss of $194 per loan in the first quarter of 2014, the Mortgage Bankers Association (MBA) reported in its Quarterly Mortgage Bankers Performance Report.Click to continue

Home Price Gains Begin to Slow Nationwide

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Data through June 2014, released by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices show a sustained slowdown in price increases. The National Index gained 6.2 percent in the 12 months ending June 2014 while the 10-City and 20-City Composites gained 8.1 percent; all three indices saw their rates slow considerably from last month. Every city saw its year-over-year return worsen.Click to continue

Gen X-ers More Likely to be Underwater Than Millenials and Baby Boomers

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Generation X homeowners are far more likely to be underwater on their mortgage than millennial and Baby Boomer homeowners, a generational block that could limit the market for years, according to the second quarter Zillow Negative Equity Report. The overall national negative equity rate fell to 17 percent in the second quarter, with more than 8.7 million homeowners with a mortgage owing more than their home was worth.Click to continue

U.S. Home Prices Up Nearly One Percent in Q2

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The Federal Housing Finance Agency (FHFA) has announced that U.S. house prices rose 0.8 percent in the second quarter of 2014, according to its purchase-only, seasonally adjusted House Price Index (HPI). This is the twelfth consecutive quarterly price increase in the HPI.Click to continue