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Fixed-Rate Mortgages Rise Over the Four Percent Mark

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Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing that average fixed-rate mortgages (FRMs) moving higher for the second consecutive week amid better than expected economic data. The 30-year FRM averaged 4.02 percent with an average 0.5 point for the week ending Nov. 6, 2014, up from last week when it averaged 3.98 percent. A year ago at this time, the 30-year FRM averaged 4.16 percent.Click to continue

NAR: Home Price on the Rise in 73 Percent of Markets Nationwide

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Home prices showed continued growth in a majority of metropolitan areas in the third quarter, but all four major regions saw increases at or below five percent from a year ago, according to the latest quarterly report by the National Association of Realtors (NAR).Click to continue

Housing Markets Nationwide Crawling Toward Recovery

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Markets in 59 of the approximately 350 metro areas nationwide returned to or exceeded their last normal levels of economic and housing activity in the third quarter of 2014, according to the National Association of Home Builders/First American Leading Markets Index (LMI). This represents a year-over-year net gain of seven markets.Click to continue

Purchase Apps and Refis Decline Over Last Week

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Mortgage applications decreased 2.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Oct. 31, 2014.Click to continue

Negative Equity Share Drops Under Eight Percent Nationwide

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The Data & Analytics division of Black Knight Financial Services (BKFS) has released its latest Mortgage Monitor Report, based on data as of the end of September 2014. Using Black Knight's first and second lien mortgage databases, and leveraging data from its Home Price Index, the company analyzed the current active mortgage population to investigate both the state of the 'refinancible' population as well as of the nation's current equity situation.Click to continue

FHFA: Interest Rates Slip in September

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The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 4.06 percent for loans closed in late September, down two basis points from 4.08 percent in August. The average interest rate on all mortgage loans was 4.07 percent, down 2 basis points from 4.09 in August.Click to continue

Mortgage Credit Availability Tails Off in October

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Mortgage credit availability dropped in October, according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) which analyzes data from the AllRegs Market Clarity product. The MCAI decreased 2.5 percent to 113.2 in October. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of a loosening of credit. The index was benchmarked to 100 in March 2012.Click to continue

Zillow: Mortgage Rates Begin to Level Off

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The 30-year fixed mortgage rate on Zillow Mortgages is currently 3.90 percent, up five basis points from this time last week. The 30-year fixed mortgage rate hovered around 3.92 percent for most of the week, spiking to 4.15 percent Thursday before settling around the current rate.Click to continue

Home Prices Rise by 5.6 Percent Annually in September

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CoreLogic has released its September CoreLogic Home Price Index (HPI) report. Home prices nationwide, including distressed sales, increased 5.6 percent in September 2014 compared to September 2013. This change represents 31 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, dropped by 0.1 percent in September 2014 compared to August 2014.Click to continue

Millions of Potential Households Holding Out for U.S. Housing Recovery

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Stagnant incomes and rising rents left the U.S. with an unprecedented number of doubled-up households as people moved in together to make ends meet. All those roommates have changed the American housing landscape, with 5.4 million households that would exist under normal conditions instead lost in guestrooms and basements, sharing space with friends, family and roommates, waiting for better economic times, according to an analysis by Zillow.Click to continue