April 15, 2011 (Shirley Allen) Distressed property sales made up 57 percent of California’s resale market last month according real estate tracker DataQuick. Of those sales, 39.3 percent were properties that had been foreclosed on during the past year, which was down from 40.1 percent in February and down from 40.3 percent in March. The [...]
April 15, 2011 (Jeff Alan) Foreclosure filings decreased by 15 percent in the first quarter of 2011, but the looming shadow inventory and the probability of increased foreclosure activity in the future as lenders and servicers begin to work their way through the backlog of foreclosures that have been delayed by the “robo-signing” controversy, threaten [...]
April 14, 2011 (Shirley Allen) Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows mortgage rates slowly increasing for the fourth consecutive week, yet remaining below 5 percent moving into the traditional home buying season. Mortgage interest rates have remained below 5 percent for the last eight weeks. Read [...]
April 14, 2011 (Shirley Allen) Fannie Mae announced the opening of its seventh help center in Tampa, Florida. The new Tampa Mortgage Help Center will provide free education and counseling services to struggling homeowners in the greater Tampa Bay area. The Center was developed in partnership with the Tampa Bay Community Development Corporation, the Greater [...]
April 14, 2011 (Chris Moore) The Federal Reserve released the latest edition of its Beige Book which sounded pretty similar to the last report released six weeks ago. The report shows economic activity generally continued to improve while the housing market continued to be a drag on the economy. Read more
April 14, 2011 (Chris Moore) Freddie Mac has released its Economic and Housing Outlook for April which anticipates a spring pick-up in home sales that the report attributes to encouraging employment numbers, continuing historically low mortgage rates and lower home prices, with the latter two contributing to the highest level in homebuyer affordability in 40 [...]
April 13, 2011 (Shirley Allen) According to the data collected on April 12, 2010, for LendingTree’s Weekly Mortgage Rate Pulse, average home loan rates offered by network lenders was 5.11 percent (5.31% APR) for 30-year fixed mortgages, which is up from 5.06 percent reported in the previous survey, 4.28 percent (4.59% APR) for 15-year fixed [...]
April 13, 2011 (Chris Moore) The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending April 8, 2011. The Market Composite Index, a measure of mortgage loan application volume, decreased 6.7 percent on a seasonally adjusted basis from last week. Read more...
April 13, 2011 (Chris Moore) An extension that was enacted as part of the Worker, Homeownership and Business Assistance Act of 2009 for Military personnel, members of the Foreign Service, and intelligence community employees who served at least 90 days of extended duty, and their spouses, is set to expire on April 30, 2011. Read [...]
