Archive for the ‘Trends’ Category

New-Home Sales Rise Slightly in September Over August

Friday, October 24th, 2014


For Sale/Credit: Stockbyte

Sales of newly built, single-family homes inched up 0.2 percent in September to a seasonally adjusted annual rate of 467,000 units, the highest level in six years, according to newly released data by the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau. Sales numbers for August were revised down from 504,000 to 466,000.Click to continue

Fixed-Rates Drop to 18-Month Low

Thursday, October 23rd, 2014


Home Sale/Copyright: 2008 Getty Images/Credit: David Sacks

Freddie Mac has released the results of its weekly Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates hitting fresh lows for the year for the second consecutive week amid declining bond yields. The 30-year fixed-rate mortgage (FRM) averaged 3.92 percent with an average 0.5 point for the week ending Oct. 23, 2014, down from last week when it averaged 3.97 percent. A year ago at this time, the 30-year FRM averaged 4.13 percent.Click to continue

Remodeling Market Index Returns to All-Time High

Thursday, October 23rd, 2014


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The National Association of Home Builders' (NAHB) Remodeling Market Index (RMI) reclaimed the high-water mark of 57 in the third quarter of 2014. This is the sixth consecutive quarter for an RMI reading above 50. An RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter) than report it is lower. The overall RMI averages ratings of current remodeling activity with indicators of future remodeling activity.Click to continue

MBA Forecasts $1.19 Trillion in Originations in 2015

Wednesday, October 22nd, 2014


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The Mortgage Bankers Association (MBA) has announced that it expects to see $1.19 trillion in mortgage originations during 2015, a seven percent increase from 2014. While MBA anticipates purchase originations will increase 15 percent, it expects refinance originations to decrease three percent.Click to continue

National Credit Default Rates Rise Slightly in September

Wednesday, October 22nd, 2014


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Data through September 2014, released by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed an uptick in default rates. The national composite posted 1.04 percent in September, up three basis points from July 2014’s historical low. For the second consecutive month, the first mortgage default rate rose, to 0.93 percent in September.Click to continue

Refi Apps Begin to Gain Steam

Wednesday, October 22nd, 2014


House Atop Money/Credit: Creatas

Mortgage applications increased 11.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Oct. 17, 2014. This week’s results did not include an adjustment for the Columbus Day holiday.Click to continue

Study Finds More Than 17 Percent of Appraisals Report a Value Less Than Contract Price

Tuesday, October 21st, 2014


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More than 17 percent of appraisals on purchase transactions were found to report a value less than the value of the contract price.Click to continue

Zillow Mortgages: Fixed-Rates Remain Below Four Percent

Tuesday, October 21st, 2014


House for Sale/Credit: Creatas

The 30-year fixed-rate mortgage (FRM) on Zillow Mortgages is currently at 3.81 percent, unchanged from this time last week. The 30-year FRM hovered around 3.85 percent for most of the week, dropping to 3.70 percent Wednesday before rising to the current rate.Click to continue

Existing-Home Sales Bounce Back in September

Tuesday, October 21st, 2014


For Sale Sign/Copyright: Getty Images/Credit: Hemera Technologies

After a modest decline last month, existing-home sales bounced back in September to their highest annual pace of the year, according to the National Association of Realtors (NAR).Click to continue

New Credit for Revolving Home Equity Loans Rises More Than 21 Percent Year-Over-Year

Monday, October 20th, 2014


Home Block Wood/Credit: Phil Ashley

Equifax has announced its latest National Consumer Credit Trends Report, the total balance of new credit for revolving home equity loans year-to-date in July 2014 is $65.9 billion, a six-year high and a year-over-year increase of 21.4 percent.Click to continue