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Mortgage Apps Climb 4.3 Percent Week-Over-Week

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Mortgage applications increased 4.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 11, 2014. The Market Composite Index, a measure of mortgage loan application volume, increased 4.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased five percent compared with the previous week. The Refinance Index increased seven percent from the previous week.Click to continue

NAHB: Housing Starts Up Nearly Three Percent in March

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Led by a six percent rise in single-family starts, nationwide housing production rose 2.8 percent above an upwardly revised February rate of 920,000 to a seasonally adjusted annual rate of 946,000 units in March, according to newly released figures from the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau.Click to continue

FNC: Sales of Non-Distressed Homes on the Rise in February

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The latest FNC Residential Price Index (RPI) shows U.S. home prices increased again in February as sales of non-distressed homes continue to rise and regain market share. The index, constructed to gauge the price movement among normal home sales exclusive of distressed properties, indicates much of the nation’s underlying home value shows solid growth as dwindling REO sales fall to their lowest levels since 2007.

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Mortgage Apps for New March Home Purchases Rise 15 Percent

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The Mortgage Bankers Association’s (MBA) Builder Application Survey (BAS) data for March 2014 shows mortgage applications for new home purchases increased by 15 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns. By product type, conventional loans composed 68.3 percent of loan applications, FHA loans composed 17.2 percent, RHS/USDA loans composed 1.6 percent and VA loans composed 12.9 percent.Click to continue

LA Metro Area Housing Appreciates 48 Percent Over Past Five Years

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Pro Teck Valuation Services’ March Home Value Forecast (HVF) updates research and examines the factors that cause a housing bubble and why no national housing bubble is expected even in the hottest markets. The Home Value Forecast cited Collateral Analytics’ previously developed “bubble indicator” for the real estate market, which has determined that in the past, real estate crashes always have followed a five year period of 150 percent or greater total appreciation.Click to continue

Builder Confidence Remains Flat for Third Consecutive Month

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Builder confidence in the market for newly built, single-family homes rose one point to 47 in April, from a downwardly revised March reading of 46 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). "Builder confidence has been in a holding pattern the past three months," said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del.Click to continue

Consumer Credit Default Rates Continue to Decline in March

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Data through March 2014 by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices showed a decline in national default rates during the month of March. In March, all five national indices showed a drop-off for the second consecutive month. The national composite recorded its lowest post-recession rate; it posted 1.20 percent in March, the lowest rate since July 2006. The first mortgage default rate was 1.13 percent in March, its lowest level since September 2006. The second mortgage posted 0.60 percent in March, down from 0.69 percent in February.Click to continue

Mortgage Mergers on the Rise in 2014

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Although the number of mortgage-related casualties has significantly declined this past year, wholesale lenders are disappearing at a brisk pace. Meanwhile, mortgage mergers are on the rise. From Jan. 1 through March 31, Mortgage Daily tracked 13 mortgage-related businesses that either failed or were closed. The data was collected for the Mortgage Graveyard, a journal of mortgage-related entities that have either failed, closed or been acquired since 1998.Click to continue

JPMorgan Chase and Wells Fargo Take Q1 Hits on Drops in Mortgage Production

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On Friday, two of the Big Four banks have unveiled their quarterly earnings reports. Overall, the first quarter seems to have had a noticeable ding on JPMorgan Chase and Wells Fargo’s mortgage production, with both companies posting significant losses in both areas.Click to continue

Monthly Foreclosure Activity Rises Four Percent in March

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RealtyTrac released its U.S. Foreclosure Market Report for March and the first quarter of 2014, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 117,485 U.S. properties in March, a four percent increase from February but still down 23 percent from a March 2013.Click to continue