March 10, 2011 (Chris Moore) Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows mortgage rates holding steady and below 5.0 percent. Rates across the board remained below year-over-year levels. Read more...
March 10, 2011 (Shirley Allen) Home prices in the United States showed a slight decline overall for the three month period ending in February 2011 according Clear Capital’s Home Data Index (HDI), but the Western region of the U.S. is poised for a double dip by the end of the first quarter, 2011, if current [...]
March 10, 2011 (Jeff Alan) RealtyTrac released its monthly U.S. Foreclosure Market Report for February 2011 which disclosed that foreclosure filings, which include default notices, scheduled auctions, and bank repossessions, were reported on 225,101 properties in February, the lowest amount in 36 months. The drop in foreclosure filings represents a 14 percent decrease from January [...]
March 9, 2011 (Shirley Allen) According to the data collected on March 8, 2010, for LendingTree’s Weekly Mortgage Rate Pulse, average home loan rates offered by network lenders was 5.08 percent (5.29% APR) for 30-year fixed mortgages, which is up from 5.06 percent the week before, 4.29 percent (4.61% APR) for 15-year fixed mortgages, which [...]
March 09, 2011 (Chris Moore) The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 4, 2011. The Market Composite Index, a measure of mortgage loan application volume, increased 15.5 percent on a seasonally adjusted basis from last week. Read more...
March 9, 2011 (Chris Moore) Freddie Mac has posted a chart on its website in response to information that it feels was erroneous in an article by the New York Times. In the article, the author Binyamin Appelbaum, claims that Fannie Mae and Freddie Mac had slashed the requirements for down payments in recent years [...]
March 9, 2011 (Jeff Alan) Home values declined at an accelerated pace in January according to Zillow’s Home Value Index for January. Monthly home values declined 1.2 percent in January with annual depreciation hitting 7.3% percent. The rate of monthly depreciation is the highest seen since December 2008. The median home value in January was [...]
March 9, 2011 (Chris Moore) Bank of America representatives said on Tuesday that the Obama Administration’s $20 billion proposal to try to force banks to write down mortgage principals was unworkable and unfair to borrowers who had managed to stay current on their loans, a point made previously here on LoanRateUpdate. “There’s a core problem [...]
March 8, 2011 (Shirley Allen) With out of every nine homes sold in Hawaii last year in foreclosure, state legislators are considering temporarily banning foreclosures and creating a system for homeowners to seek mediation and loan modifications. The idea has already passed the state House of Representatives, sending notice to lenders and bankers they need [...]
