CoreLogic recently reported that 2.5 million U.S. mortgages have surfaced from negative equity or underwater in the second quarter of 2013. That means 41.5 million U.S. homes currently exist with a positive-equity type of mortgage. Despite an increase in mortgages, 7.1 million homes are still considered underwater due to homeowners owing more money than the […]
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 […]
A recent report from CoreLogic announced that 100,000 more borrowers attained positive equity during the third quarter of 2012 while fewer mortgage holders were in negative equity at the same time. In Q3 2012, there were 1.4 million borrowers that moved into positive equity, compared to roughly more than 1.3 million the previous quarter, according […]
Multiple Listing Services of Long Island recently reported that there were 2,368 closings in December 2012 — a 25.7% jump over November’s figure of 1,885 and 7.5% higher year over year when there were 2,202 closings in December 2011. There were also 1,928 pending sales in December, compared to 1,838 in November (a 4.9% increase), […]
TransUnion recently reported the amount of borrowers who have fallen at least two months behind on their payments has decreased by 5.41%, which is at its lowest point in three years. Homes are selling at higher prices, which have helped reduce the number of underwater homeowners (that is, those whose mortgage balance is greater than […]
Freddie Mac reported this week that the average rate on the 30-year fixed-rate mortgage rose from 4.80% last week to 4.81% this week. Meanwhile, the average rate for 15-year fixed-rate mortgages decreased from 4.09% last week to 4.08% this week. The average rate on a five-year adjustable-rate mortgage fell to 3.69%, compared to 3.70% last […]
The National Association of REALTORS recently announced that pending home sales fell during the month of September, snapping a two-month streak of gains. Pending home sales reflect the number of sales going into contract; it does not reflect the number of closings. The index of sales agreements in September was 80.9, down 1.8% from August’s […]
The National Association of REALTORS announced today that existing home sales rose for the second month in a row during the month of September. Despite the good news, the figure is off from September 2009’s numbers. According to the NAR, existing home sales — which are completed transaction that include single-family homes, condominiums and co-ops […]
Reuters reported today that the number of mortgage applications fell last week as mortgage rates — after a series of record lows — shot back up, as the housing market struggles to recover. The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, was down 10.5% […]
For the second consecutive week, mortgage applications have dropped, Reuters reported today. The Mortgage Bankers Association said that, despite rock-bottom interest rates, mortgage applications for both home purchases and refinancing decreased 8.9% for the week ending September 10. The MBA’s seasonally adjusted index of refinancing applications decreased 10.8% the same week, its lowest level since […]