Tag Archives: refinancing

CoreLogic, RealtyTrac Confirm Improving Home Equity

Last week, RealtyTrac announced its findings that some 600,000 homeowners had emerged from being “deeply underwater” (that is, with loan-to-value ratios in excess of 125%) since May. During that same time, CoreLogic also that homeowners are rapidly recapturing the equity they lost suddenly late in the last decade. Currently, more than 2.5 million more residential […]

Demand for Refinancing Declines as Mortgage Rates Soar

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 […]

FICO Survey Shows Mortgage Delinquencies Will Decrease Slightly

A recent survey conducted by the Professional Risk Managers Association and FICO respondents, showed that during the first quarter of 2013, 45.2 percent of respondents believed that mortgage delinquency rates would remain constant over the next six months and 38.5 percent saw further rate declines, as compared to the fourth quarter of 2012, when 31.3 […]

Home Purchase Applications Rise, But Refinancing Is Down

The Mortgage Bankers Association announced that overall mortgage application activity fell 4% the week ending March 29 to the lowest level since March 15. The number of applications for home purchases — a leading indicator of home sales — rose 1.4% but those gains were negated by the seasonally adjusted index of refinancing applications, which […]

Mortgage Applications Fall for Second Week in a Row

The Mortgage Bankers Association reported recently that mortgage applications fell 7.1% for the week ending March 15. This marked the second consecutive week of declines. The refinance index dropped 8%, making it 10 straight weeks of declines. In addition, refinancing fell to 75% of all mortgage activity — its lowest level since May 2012. The […]

Will Mortgage Refinancing Bill Be Made into Law?

There is a tug-of-war in Congress over a bill that would reduce up-front fees for homeowners with Fannie Mae and Freddie Mac loans who wish to refinance and eliminate appraisal costs. While Democrats argue this will save homeowners thousands of dollars a year in mortgage payments, Republicans say the best way for the housing market […]

Low Interest Rates Mean Jump in Mortgage Prepayments

Homeowners have taken advantage of record-low interest rates to refinance their homes. According to Lender Processing Services Inc., mortgage prepayment rates in August were up to its highest levels in seven years. The Florida-based mortgage data provider also showed that home loans were repaid in August at a pace that would erase 25% of the […]

Affordable Financial Services LTD’ Weekly Finance Review

Data released by RealtyTrac on April 14 showed that the number of foreclosures in the first quarter of 2011 was lower than what it was during the same quarter in 2010. More than 681,000 homes received a foreclosure filing in Q1 2011, a 27% decrease. That same quarter, 215,046 borrowers lost their homes, which is […]

Affordable Financial Services LTD Weekly Finance Review

The Commerce Department reported this week that housing starts fell 22.5% in February to 479,000 units, from an upwardly revised January figure of 618,000 units. It was the biggest decline in 27 years and finished just above a record low set in April 2009. Building permits — a hint of future construction demand — fell […]

Affordable Financial Services LTD Weekly Finance Review

CNNMoney recently reported that the number of foreclosures in February fell 14%, compared to January and 27% compared to February 2010. According to RealtyTrac, that is the largest year-to-year drop the company has ever recorded. While some see this as a sign of recovery in the housing market, the company says part of the decline […]