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Homeownership Rate Falls in Q2, Expected to Plummet Further

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The national homeownership rate fell in the second quarter, and a majority of experts said they expect it to fall further in coming years as the Millennial generation delays home purchases and the age of typical first-time homebuyers rises, according to the latest Zillow Home Price Expectations Survey.Click to continue

Interest Rates Dip Nationwide in June

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Nationally, interest rates on mortgages decreased from May to June, according to an index of new mortgage contracts. According to the Federal Housing Finance Agency (FHFA), the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders index was 4.08 percent for loans closed in late June. The index is calculated using FHFA's Monthly Interest Rate Survey. The contract rate on the composite of all mortgage loans was 4.09 percent in June, a decrease from 4.13 percent in May.Click to continue

Rates Diverging According to

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Rates on the most popular types of mortgages shifted slightly in opposite directions but remained trendless, according to's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages fell by three basis points (0.03 percent) to 4.18 percent. Conforming 5/1 Hybrid ARM rates increased by a single basis point, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.16 percent.Click to continue

Zillow: Fixed-Rates Drop Down to Near Four Percent


The 30-year fixed mortgage rate on Zillow Mortgages is currently 4.04 percent, up seven basis points from this time last week. The 30-year fixed mortgage rate steadily rose last week, peaking at 4.17 percent on Monday before easing back down to the current rate on Tuesday.Click to continue

Cash-Out Refis Tick Higher as Boom Ends

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Freddie Mac has released the results of its second quarter 2014 quarterly refinance analysis, showing that borrowers will save in aggregate more than $1 billion in interest payments over the coming year, as borrowers continued to shorten their payment terms and build equity in their homes.Click to continue

Rise in Home Prices Slows in May

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Data through May 2014, released by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show the Composite Indices increased at a slower pace. The 10-City Composite gained 9.4 percent year-over-year and the 20-City 9.3 percent, down significantly from the +10.9 percent and +10.8 percent returns reported last month. All cities with the exception of Charlotte and Tampa saw their annual rates decelerate.Click to continue

Pending Home Sales Dip Modestly in June

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After three consecutive months of solid gains, pending home sales slowed modestly in June, according to the National Association of RealtorsThe Pending Home Sales Index, a forward-looking indicator based on contract signings, declined 1.1 percent to 102.7 in June from 103.8 in May, and is 7.3 percent below June 2013 (110.8).Click to continue

Remodeling Market Index Up Three Points

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The National Association of Home Builders' (NAHB) Remodeling Market Index (RMI) rose three points to 56 in the second quarter of 2014, regaining the momentum built in 2013. This is the fifth consecutive quarter for an RMI reading above 50. An RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter) than report it is lower.Click to continue