Archive for the ‘Trends’ Category

California’s Q1 Foreclosures Rise Six Percent Quarterly

Tuesday, April 22nd, 2014


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For the third consecutive quarter, California foreclosure starts remained little changed at a level last seen in early 2006, the result of steady economic growth and higher home values. Foreclosure processors are still mostly plowing through a pool of toxic sub-prime mortgages originated back in mid-to-late 2006, according to San Diego-based DataQuick. Lenders and their servicers recorded 19,215 Notices of Default (NoDs) on California house and condo owners during this year’s first quarter, which runs January through March.Click to continue

Zillow: Home Values in 1,000-Plus Cities to Rise Within Year

Tuesday, April 22nd, 2014


House Keys/Credit: Digital Vision

Declines in home values experienced during the recession have already been, or are close to being, erased in almost 20 percent of metro housing markets nationwide as values continue to rise, according to the first quarter Zillow Real Estate Market Reports. U.S. home values climbed 5.7 percent year-over year in the first quarter, to a Zillow Home Value Index of $169,800.Click to continue

NAR: Sales Remain Flat in March as Prices Begin to Rise

Tuesday, April 22nd, 2014


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Existing-home sales were essentially flat in March, while the growth in home prices moderated, according to the National Association of Realtors (NAR). Sales gains in the Northeast and Midwest were offset by declines in the West and South.Click to continue

NMP’s Mortgage Professional of the Month: Andrew Peters, Chief Executive Officer of First Guaranty Mortgage Corporation

Monday, April 21st, 2014


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National Mortgage Professional Magazine is pleased to name Andrew Peters, chief executive officer of First Guaranty Mortgage Corporation (FGMC), as its Mortgage Professional of the Month for December, 2013. Beginning his career in the industry while still in college, Andrew has literally worked his way from sweeping the floors to the executive suite.Click to continue

Nine Million-Plus U.S. Properties Seriously Underwater in Q1

Friday, April 18th, 2014


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RealtyTrac has released its U.S. Home Equity & Underwater Report for the first quarter of 2014, which shows that 9.1 million U.S. residential properties were seriously underwater — where the combined loan amount secured by the property is at least 25 percent higher than the property’s estimated market value—representing 17 percent of all properties with a mortgage in the first quarter.Click to continue

Monthly Home Sales Rise Nearly 30 Percent in California

Friday, April 18th, 2014


For Sale/Credit: Stockbyte

An estimated 32,923 new and resale houses and condos sold in the state of California in the month of March. That was up 28.2 percent from 25,680 in February, and down 12.8 percent from 37,764 sales in March 2013, according to San Diego-based DataQuick.Click to continue

Foreclosure Rescue Fraud Epidemic Highlighted In New Report

Friday, April 18th, 2014


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During Fair Housing Month, the Lawyers’ Committee for Civil Rights Under Law (Lawyers’ Committee) issued a comprehensive national report, Foreclosure Rescue, Inc., which examines the foreclosure rescue fraud epidemic, scam trends and efforts to combat these fraudulent activities. The Lawyers' Committee and its coalition partners in the Loan Modification Scam Prevention Network (LMSPN) have been tracking the foreclosure rescue fraud crisis since March 2010.Click to continue

Mortgage Rates Continue Downward Trend, Hit 4.27 Percent for the Week

Thursday, April 17th, 2014


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Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates easing further for the second consecutive week helping to increase homebuyer affordability at the onset of the spring home buying season. For the week ending April 17, the 30-year fixed-rate mortgage (FRM) averaged 4.27 percent with an average 0.7 point, down from last week when it averaged 4.34 percent. A year ago at this time, the 30-year FRM averaged 3.41 percent.Click to continue

Southern California Home Sales Down 14.3 Percent Year-Over-Year in March

Thursday, April 17th, 2014


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Southern California home sales quickened last month compared with February, as they normally do, but remained far below average and at the lowest level for a March in six years. The median sale price rose to a more-than-six-year high, driven up by demand that continues to exceed supply in many areas, as well as a shift toward a greater share of sales in middle and high-end markets, according to San Diego-based DataQuick.Click to continue

Mortgage Apps Climb 4.3 Percent Week-Over-Week

Wednesday, April 16th, 2014


For Sale/Credit: Stockbyte

Mortgage applications increased 4.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 11, 2014. The Market Composite Index, a measure of mortgage loan application volume, increased 4.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased five percent compared with the previous week. The Refinance Index increased seven percent from the previous week.Click to continue