Freddie Mac’s Primary Mortgage Market Survey recently reported that the average rate for a 30-year fixed-mortgage was 4.48% as of the week ending December 26. The week prior, the rate was 4.47% — resulting in a 0.7% increase. One year ago during the same week, 30-year fixed-rate mortgages were about 3.35%. The 15-year fixed-rate […]
The applications for the purchase of newly constructed homes have decreased last month by about 18% from October levels, according to The Mortgage Bankers Association’s (MBA) latest builder survey. The builder survey is conducted from mortgage subsidiaries of homebuyers across the U.S. After the data was concluded and assumptions about market coverage were made, sales […]
Fewer applications were filed due to the increase in mortgage rates, which hit record highs, according to the Mortgage Bankers Association. For the week ending November 8, applications fell 1.8% and again by 2.89% the previous week. Refinancing applications decreased 2.3% and 3.9% the week before. Last week, the purchase index dropped by 0.5%; two […]
According to a recent report by the National Home Sales Snapshot, existing home sales declined for its fourth consecutive week. The report states that for the end of the 30-day rolling period, which ended on October 10, 250,006 properties were sold, which is a 1.3% decline from the previous week, and was also 7.3% lower […]
Mortgage applications are up 1.3% this week, making some recovery after a 2.5% decline in the last week of August, according to the Mortgage Bankers Association. The Refinance Index saw a 2% increase this week, with refinance activity up 1%, from 60 to 61. Although the Purchase Index fell 3% this week, purchase applications remain […]
Economists at the Goldman Sachs Group reported than more than 50% of all homes sold last year and throughout this year were bought mortgage-free and that all-cash sales have more than doubled since 2006. Before the housing bubble burst, only 20% of homebuyers made cash-only transactions. Goldman Sachs analysts determined the percentage of cash-only home […]
According to Mortgage Bankers Association data, the rate of new foreclosures in the second quarter of 2013 was 1.07%, a record figure going back to 1979. This was higher than the national average of 0.64%. It was also reported that the Empire State had the third-highest serious delinquency rate in the nation with 9.2%, followed […]
The National Association of REALTORS recently reported that the seasonally adjusted index for pending home sales was 110.9 in June, down 0.4% from a downwardly revised figure of 111.3 during the month of May — a six-year high. Since last year, home prices and mortgage rates have increased, suggesting that sales are beginning to slow […]
According to the Mortgage Bankers Association (MBA), applications for refinancing were at its lowest level since July 2011 and they continue to fall as seen at the end of last week. MBA’s Market Composite Index, which measures mortgage application volume, dropped 1% from the previous week, aided by a 12% decrease in applications for government-backed […]
Dropping to its lowest level in a year and a half, refinance demands fell for a fourth continuous week, while, the mortgage rates continued to climb. It was the weakest demand for refinancing since November 2011. According to the weekly Mortgage Bankers Association (MBA) survey, as the average interest rates on 30-year fixed-rate mortgages dropped […]