Mortgage applications decreased seven percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Nov. 1, 2013. The Market Composite Index, a measure of mortgage loan application volume, decreased seven percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased eight percent compared with the previous week. The Refinance Index decreased eight percent from the previous week.Click to continue
The majority of metropolitan areas in the third quarter experienced robust year-over-year price gains, with the national median price showing the strongest annual growth in nearly eight years, according to the latest quarterly report by the National Association of Realtors (NAR). The median existing single-family home price increased in 88 percent of measured markets, with 144 out of 163 metropolitan statistical areas (MSAs) showing gains based on closings in the third quarter compared with the third quarter of 2012.Click to continue
CoreLogic released its September CoreLogic Home Price Index (HPI) report. Home prices nationwide, including distressed sales, increased 12 percent on a year-over-year basis in September 2013 compared to September 2012. This change represents the 19th consecutive monthly year-over-year increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 0.2 percent in September 2013 compared to August 2013.Click to continue
Clear Capital released its Home Data Index) (HDI) Market Report with October 2013 data. Using a broad array of public and proprietary data sources, the HDI Market Report publishes the most granular home data and analysis earlier than nearly any other index provider in the industry.
October 2013 highlights include:
►National home price trends showed signs of moderation in October.
►Nationally, prices expanded 11.7 percent over the last year. The West maintained the regional lead with 19.5 percent yearly growth.Click to continue
Although the housing market has shown a healthy recovery over the past two years, unnecessarily restrictive mortgage lending standards are preventing some financially qualified buyers from reaching their dreams, especially singles and first-time buyers, according to an annual study recently released by the National Association of Realtors (NAR). The 2013 National Association of Realtors Profile of Home Buyers and Sellers continues a long-running series of large national NAR surveys evaluating the demographics, preferences, motivations, plans and experiences of recent home buyers and seClick to continue
Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed-rate mortgages (FRMs) declining for the second consecutive week amid recent data showing softening in the housing market, hitting their lowest levels since June. The 30-year FRM averaged 4.10 percent with an average 0.7 point for the week ending Oct. 31, 2013, down from last week when it averaged 4.13 percent. A year ago at this time, the 30-year FRM averaged 3.39 percent.Click to continue
Mortgage applications increased 6.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Oct. 25, 2013. Click to continue
CoreLogic has released an analysis of home price trends during the second quarter of 2013 in more than 380 U.S. markets based on the CoreLogic Case-Shiller Indexes. The CoreLogic Case-Shiller Indexes estimate that home prices increased by 10.1 percent in the second quarter of 2013 compared to a year ago. Home prices nationwide are now 16 percent above the trough, reached in the fourth quarter of 2011, but still remain 24 percent below the peak, reached in the first quarter of 2006.Click to continue
The Mortgage Bankers Association (MBA) announced that it expects to see $1.2 trillion in mortgage originations during 2014, a 32 percent decline from 2013. While MBA expects purchase originations to increase nine percent, it expects refinance originations to fall 57 percent.
MBA also upwardly revised its estimate of originations for 2013 to $1.7 trillion from $1.6 trillion to reflect shifts in lender market shares reported in the latest Home Mortgage Disclosure Act (HMDA) data release.Click to continue
Data through August 2013, released by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices showed that the 10-City and 20-City Composites increased 12.8 percent year-over-year. Compared to July 2013, the annual growth rates accelerated for both Composites and 14 cities.Click to continue