High rent is driving people to become homeowners
Applications for purchases and refinancing declined in the last week of May.
FHA published its Home Equity Conversion Mortgage (HECM) proposed rule, Strengthening the Home Equity Conversion Mortgage Program in the Federal Register.
Zombie foreclosures are down 36 percent in the current quarter compared to the same period in 2015.
The National Index, which covers all nine U.S. census districts, was up 5.2 percent in home prices compared to March 2015.
Mortgage rates moved modestly lower yesterday. Given that rates had spiked last Wednesday, it was enough to get rates to the best levels seen since last Tuesday.
As bond yields began rising last week, June was likely target for the next hike, but seems like it has shifted toward July.
Mortgage rates were mixed today, depending on the lender.
The Census Bureau and the Department of Housing and Urban Development said today that sales were at a seasonally adjusted annual rate of 619,000, an increase of 16.6 percent from the previous month and 23.8 percent higher than in April 2015.
The percentage in foreclosures has been dropping all over the U.S.