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Sales

Can Millennials and Jumbos Drive the Mortgage Market?

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Three new reports issued today offer a mix of different emotions on the state of housing and the mortgage market, with an affirmation of current problems and a forecast for a much brighter tomorrow. However, some industry experts point to a XL-sized non-agency product as being the latest tool to help drive activity.Click to continue

Despite a Decline in Delinquencies, Most Markets Remain Weak

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Freddie Mac has released its Multi-Indicator Market Index (MiMi) showing mixed signals for the U.S. housing market. Most markets remain weak, despite declining mortgage delinquencies, improving local employment, house price gains and attractive mortgage rates due to weak home purchase mortgage applications.Click to continue

HSH.com: Fixed-Rates Dip Slightly to 4.22 Percent

For Sale Sign/Credit: Medioimages/Photodisc

Rates on the most popular types of mortgages eased just a little, according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages fell by two basis points (0.02 percent) to 4.22 percent. Conforming 5/1 Hybrid ARM rates also decreased by two basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.16 percent.Click to continue

Home Price Growth Hits 13-Month Low

For Sale/Credit: Stockbyte

Data through April 2014, released by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices show that the 10-City and 20-City Composites posted annual gains of 10.8 percent. This is a significantly lower rate when compared to last month. Nineteen of the 20 cities saw lower annual gains in April than in March. California (Los Angeles, San Diego and San Francisco) saw their returns worsen by approximately three percentage points. Boston was the only city to see its annual rate improve.Click to continue

New Job Creation Spurs Sales of Newly-Built Homes to Six-Year High

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Sales of newly built, single-family homes rose 18.6 percent to a seasonally adjusted annual rate of 504,000 units in May, according to newly released data by the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau, to its highest point since May 2008.Click to continue

FHFA: U.S. Home Prices Remain Flat in April

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The Federal Housing Finance Agency (FHFA) has reported that its monthly House Price Index (HPI) showed no change (0.0 percent) in U.S. house prices for April from the prior month.  The monthly change in the FHFA HPI for March remained at 0.7 percent as previously reported.Click to continue

Inventory of All For-Sale Homes Nationwide Spikes in May

For Sale/Credit: Stockbyte

After plunging throughout 2012 and for much of 2013, and rising only modestly through the beginning of this year, the inventory of all for-sale homes nationwide spiked in May, jumping 11.8 percent year-over-year according to the May Zillow Real Estate Market Reports.Click to continue

Existing Home-Sales Show Strong Returns For Month of May

House Keys/Credit: Digital Vision

Existing-home sales rose strongly in May and inventory gains continued to help moderate price growth, according to the National Association of Realtors. All four regions of the country experienced sales gains compared to a month earlier.Click to continue

Housing Market Showing Signs of Stability Amid Still Uneasy Economy

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A pair of new reports issued today—Freddie Mac’s Primary Mortgage Market Survey (PMMS) and Zillow’s first quarter overview on all-cash purchases—offered a view that might suggest housing is showing evidence of stabilizing, even if the economy is still wobbling about. According to Freddie Mac, the 30-year fixed-rate mortgage (FRM) averaged 4.17 percent with an average 0.6 point for the week ending June 19, down from last week when it averaged 4.20 percent. A year ago at this time, the 30-year FRM averaged 3.93 percent.Click to continue