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Mortgage Rates Decline and Head Below the Four Percent Mark

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Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed-rate mortgages (FRMs) slightly down from the previous week with the 30-year FRM dipping just below four percent to 3.99 percent, with an average 0.5 point for the week ending Nov. 20, 2014. This total was down from last week when it averaged 4.01 percent. A year ago at this time, the 30-year FRM averaged 4.22 percent.Click to continue

Existing-Home Sales See October Upswing

House Keys/Credit: Digital Vision

Existing-home sales rose in October for the second straight month and are now above year-over-year levels for the first time in a year, according to the National Association of Realtors (NAR). Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 1.5 percent to a seasonally adjusted annual rate of 5.26 million in October from an upwardly-revised 5.18 million in September.Click to continue

Permanent Loan Mods Hit 109,000 in Q3

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HOPE NOW has released its third quarter 2014 data, showing that approximately 468,000 homeowners received non-foreclosure solutions from mortgage servicers in July, August and September. Permanent loan modifications totaled approximately 109,000 and short sales totaled 30,000. Other solutions (including repayment plans, deeds in lieu, other retention plans and liquidation plans) made up the rest of the total number.Click to continue

Builder Confidence Optimistic in November

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Builder confidence in the market for newly built single-family homes rose four points to a level of 58 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). "Growing confidence among consumers is what's fueling this optimism among builders," said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del. "Members in many areas of the country continue to see increasing buyer traffic and signed contracts."Click to continue

Multifamily Developers Remain Positive on Future of the Market

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The Multifamily Production Index (MPI), released by the National Association of Home Builders (NAHB), reached 54 in the third quarter, four points below the previous quarter's reading. This is the 11th consecutive quarter with a reading of 50 or above. The MPI measures builder and developer sentiment about current conditions in the apartment and condominium market on a scale of 0 to 100. The index and all of its components are scaled so that any number over 50 indicates that more respondents report conditions are improving than report conditions are getting worse.Click to continue

Mortgage Delinquencies Drop in Q3

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The delinquency rate for mortgage loans on one- to four-unit residential properties decreased to a seasonally adjusted rate of 5.85 percent of all loans outstanding at the end of the third quarter of 2014. The delinquency rate decreased for the sixth consecutive quarter and reached the lowest level since the fourth quarter of 2007. The delinquency rate decreased 19 basisClick to continue

Study Casts Dim View on the Financial Health of Millennials

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For many financial services experts, Millennials—the demographic between the ages of 18 and 34—represent a future of great potential. However, a new survey confirms that while the future might seem encourage, the present offers reason for apprehension.Click to continue

Single-Family Starts Rise 4.2 Percent in October

For Sale Sign/Copyright: Getty Images/Credit: Hemera Technologies

Single-family housing production in October reached its highest level since November 2013, while the more volatile multifamily sector brought combined nationwide starts activity down 2.8 percent to a seasonally adjusted annual rate of 1.009 million units, according to newly released figures from the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau.Click to continue

HSH.com: Rates Head Back Downward Toward Four Percent Mark

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Rates on the most popular mortgages types declined somewhat, according to HSH.com's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages fell by three basis points (0.03 percent) to 4.07 percent. Conforming 5/1 Hybrid ARM rates also decreased by three basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.10 percent.Click to continue