Fannie Mae reported that the number of loan modifications completed during the month of June was less than May’s figure. During the month of June, the agency modified 12,967 loans, down from 13,650 the previous month. That is lower than this year’s monthly average and last year’s monthly average: so far this year, Fannie Mae […]
Due to ever-increasing mortgage rates, the housing recovery is going to take a hit in the near future. According to Mark Hanson, a well-known mortgage analyst in California who predicted many aspects of the mortgage crash, he is predicting a 19% jump in contract cancellations for homebuilders for sales made between December 2012 and June […]
According to the CoreLogic Home Equity Report, aggregate home equity during the first quarter of 2013 surpassed $4.2 billion, a 9% increase from the previous quarter. Home equity is used to accurately predict default rates. The changes in home equity have led to a major boost in consumer confidence and spending. Consumers are finding out […]