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Trends

Rates Diverging According to HSH.com

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Rates on the most popular types of mortgages shifted slightly in opposite directions but remained trendless, 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 4.18 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

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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

Austin and Salt Lake City Named Top Cities for Millenial Homebuyers

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First-time homebuyers have been largely absent from the housing market in the current economic recovery, but some metropolitan areas—particularly in the Midwest and West—are well positioned to see increases in homebuying from the Millennial generation in upcoming years, according to new research by the National Association of Realtors.Click to continue

More Than Nine Million U.S. Properties Remain Seriously Underwater in Q2

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RealtyTrac has released its U.S. Home Equity & Underwater Report for the second quarter of 2014, which shows that 9.1 million U.S. residential properties were seriously underwater—where the combined loan amount secured by the property is at least 25 percent higher than the property’s estimated market value—representing 17 percent of all properties with a mortgage.Click to continue

Home Sales Dip Over Eight Percent For Month of June

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Sales of newly built, single-family homes fell 8.1 percent to a seasonally adjusted annual rate of 406,000 units in June, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Sales numbers for May were revised downward to 442,000.Click to continue