January 14, 2011 (Jeff Alan) According to the latest economic forecast from mortgage giant Freddie Mac, mortgage rates are expected to hit considerably higher levels in 2011 that what was predicted just a month ago. Following the unexpected rise in mortgage rates from mid-November through the December, Freddie Mac expects the mortgage rate on 30 [...]
January 14, 2011 (Shirley Allen) According to a recent independent study conducted by Field Asset Services, Real Estate Owned (REO) properties that are not rehabilitated before being sold spend an average of 222 days on the market but when the property is properly rehabilitated, it sells roughly five months sooner. Read more...
January 13, 2011 (Chris Moore) Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®). The survey results showed lower mortgage rates for both long- and short-term rates, with the 30-year reaching a four-week low. Read more...
January 13, 2011 (Jeff Alan) The Federal Reserve announced a new online publication yesterday that helps consumers better understand new notices they may receive from lenders when credit scores or credit reports affect a decision go grant credit. Almost all credit decisions made by lenders use a consumers credit history when deciding whether to extend [...]
January 13, 2011 (Jeff Alan) Feeling a little bit more stressed lately about the current economic situation? Can’t sleep at night thinking about unemployment and foreclosures? You’re not alone. According to the Associated Press’ monthly stress analysis, so are a lot of other people. One month after economic stress reached an 18-month low nationally, it [...]
January 13, 2011 (Chris Moore) RealtyTrac released its Year-End 2010 U.S. Foreclosure Market Report™, predicting that foreclosures will peak in 2011. Although foreclosures for December were down 4 percent from November and down 35 percent from a year ago, a total of 3,825,637 foreclosure filings — default notices, scheduled auctions and bank repossessions — were [...]
LendingTree Weekly Mortgage Rate Pulse: Rates Fall Slightly January 12, 2011 (Shirley Allen) According to the data collected on January 11th for LendingTree’s Weekly Mortgage Rate Pulse, average home loan rates offered by network lenders were 4.97 percent (5.22% APR) for 30-year fixed mortgages, down from 5.01 percent the week before, 4.31 percent (4.69% APR) [...]
January 12, 2011 (Chris Moore) The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending January 7, 2011. The Market Composite Index, a measure of mortgage loan application volume, increased 2.2 percent on a seasonally adjusted basis from last week. Read more...
January 12, 2011 (Jeff Alan) CoreLogic released its November Home Price Index yesterday which showed that home prices continued to tumble for the fourth month in a row in year over year sales. Home prices for November 2010 were down 5.07 percent compared to November 2009. The decline was slightly greater than the 3.35 percent [...]
