U.S. home prices increased 0.4% on an adjusted basis in February compared with January and increased 5.8% compared with February 2016, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. Not only was it the fourth consecutive month [Read More]
U.S. home prices increased 0.8% in February compared with January and increased 5.7% compared with February 2016, according to Black Knight Financial Services’ home price index report. The average price for a home hit a post-crisis high of about $268,000, surpassing [Read More]
Existing-home sales in March reached an annual pace of 5.71 million, up 4.4% from a downwardly revised 5.47 million in February and up 5.9% compared with March 2016, according to the National Association of Realtors (NAR). It was the strongest [Read More]
Housing starts in March were at a seasonally adjusted annual rate of 1.215 million, a decrease of 6.8% compared with a revised 1.303 million in February but an increase of 9.2% compared with 1.113 million in March 2016, according to [Read More]
A return of winter weather that affected the construction segment, plus sharp job losses in the retail sector, caused the March jobs report to come in much lower than expected.
Rising home prices significantly decreased the number of underwater borrowers and boosted the amount of “tappable” equity that they have in their homes in 2016, according to Black Knight Financial Services’ Mortgage Monitor report. As of the end of the [Read More]
Home prices keep increasing, but at some point, rising interest rates will impact affordability and cause a leveling off.
The default rate for first mortgages crept up slightly to 0.74% in February, rising from 0.72% in January, according to the S&P/Experian Consumer Credit Default Indices. Still, the default rate for first mortgages was down from 0.84% in February 2016. [Read More]
Mortech’s product and pricing engine (PPE) is now integrated with BeSmartee‘s mortgage process automation platform. That means lenders using BeSmartee to deliver online e-mortgage capabilities to their customers can now streamline their origination, rate pricing, underwriting and closing processes. With [Read More]
U.S. home prices increased 0.1% in January compared with December and increased 5.4% compared with January 2016, according to Black Knight Financial Services’ home price index report. It was the 57th consecutive month that home prices increased. The average home [Read More]
Uncertainty in connection with the Trump administration’s policies and proposals is yet to have an impact on consumers’ psyches.
Low supply in the affordable price range continues to be the “pest” that’s pushing home prices
Permit activity shows that the trend is likely to continue into spring.
Consumer confidence in housing hit an all-time high in February, according to Fannie Mae’s most recent Home Purchase Sentiment Index (HPSI), part of its National Housing Survey. The index increased by 5.6 percentage points in February to a score of [Read More]
About 193,000 single-family homes and condos were “flipped” in 2016, an increase of 3.1% compared with 2015 to reach the highest level since 2006, when about 276,000 were flipped, according to a recent report from ATTOM Data Solutions. The firm [Read More]
Mortgage rates increased significantly during the week ended March 9, with the average rate for a 30-year, fixed-rate mortgage (FRM) at around 4.21%, up from 4.10% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago [Read More]
In the fourth quarter, there were about 3.17 million properties, or about 6.2% of all homes with a mortgage, with negative equity.
The essential mortgage story in 2017 is likely to revolve around three issues: history, rates and uncertainty.
It’s a somewhat rare event when mortgage application volume increases significantly even though rates increased, as well – but that’s exactly what happened last week, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. Stranger still, perhaps, is [Read More]
U.S. home prices increased 0.7% in January compared with December and increased 6.9% compared with January 2016, according to CoreLogic’s home price index report. The report takes distressed sales into account. Currently, CoreLogic is forecasting that home prices will increase 0.1% [Read More]