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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

House Keys/Credit: Digital Vision

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

NAHB Forecasting 6.6 Percent Jump in Housing Starts in 2014

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A growing economy, rising household formations, low mortgage rates and pent-up demand will help single-family housing production to rev up in 2015 while a growth in renters will keep the multifamily market at cruising altitude or higher, according to economists who participated in yesterday's National Association of Home Builders (NAHB) 2014 Fall Construction Forecast Webinar.Click to continue

Mortgage Rates Rebound, Remain Below 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) moved higher across the board this week, rebounding from the lowest rates of the year of 3.92 percent.Click to continue

Mortgage Apps Decline 6.6 Percent Week Over Week

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Mortgage applications decreased 6.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Oct. 24, 2014. The Market Composite Index, a measure of mortgage loan application volume, decreased 6.6 percent on a seasonally adjusted basis from one week earlier.Click to continue

HSH.com: Fixed-Rates Again Eclipse the Four Percent Mark

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Rates on the most popular types of mortgages firmed up for the first time since mid-September, according to HSH.com's Weekly Mortgage Rates Radar. In the last week, the average rate for conforming 30-year fixed-rate mortgages (FRMs) rose by three basis points (0.03 percent) to 4.04 percent. Conforming 5/1 Hybrid ARM rates also increased by three basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.05 percent.Click to continue

S&P/Case-Shiller Data Confirm Deceleration in Home Prices

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Reasons to be optimistic about a return to housing vibrancy received a setback in the latest data released Tuesday by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices.Click to continue