Citing declines in application activity and increases in interest rates, the Mortgage Bankers Association (MBA) is lowering its forecast for origination volumes in 2014, the group announced.
Read More »Mortgage Applications Fall as Rates Rise
Mortgage applications declined at the end of the year, but Capital Economics expects applications to rise this year as both the housing market and broader economy continue to improve.
Read More »Homebuyer Demand Plummets in December
Homebuyer demand experienced a sharp downturn as the book closed on 2013, according to Redfin's numbers. The company's statistics show the number of customers requesting tours falling 14.8 percent month-over-month in December--more than double the 7.1 percent drop recorded at the same time last year. Meanwhile, the number of Redfin customers making offers on homes fell 20.2 percent, a steeper decline than last year's 16.7 percent drop.
Read More »Sellers Continue to Lose High Ground
Reports from Redfin agents indicate the fourth quarter was a rough one for homeowners looking to sell.
Read More »Analysts: Market Shifts to Cause Scaleback in Recovery
With investment activity diminishing and mortgage-dependent buyers returning, economists at Capital Economics say the housing market can look forward to a more moderate pace of price increases.
Read More »Interest Rates Rise to Open New Year
Mortgage rates began 2014 with a round of increases, kicking off a trend many experts believe will continue through the rest of the year. Freddie Mac's weekly Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage (FRM) averaging 4.53 percent (0.8 point) for the week ending January 2, up from the last week of 2013, when it averaged 4.48 percent. Meanwhile, Bankrate.com reported the 30-year fixed at 4.69 percent, a gain of 6 basis points.
Read More »McLean Mortgage Introduces RateFlex Program
McLean Mortgage Corporation announced the release of its RateFlex Program, a new concept designed to aid homeowners and prospective homebuyers in today's volatile interest rate environment.
Read More »Home Values Up 7.1% in November, Slowdown Expected
Zillow's Home Value Index (HVI) stood at $168,900 in November, an increase of 0.6 percent month-over-month. On a yearly basis, the index was up 7.1 percent, reflecting a slight slowdown from the 7.3 percent peak recorded in the summer. For the next 12-month period, Zillow anticipates "moderating influences" will lead to a fairly significant leveling off in appreciation rates, with values rising an estimated 4.6 percent to a national average of $176,731.
Read More »Commentary: What’s in Store for Housing in 2014, Part 2
Despite recent gains, which some of us believe are more of a mirage than an oasis, the economy still isn't creating enough good-paying full-time jobs to drive a full recovery in the housing market. At the same time, stricter lending requirements--and a lending environment I believe is going to get more challenging before it gets easier--are the other major headwinds that could slow down housing. While most forecasts are calling for a slight uptick in purchase loans in 2014, it's easy to build a scenario that goes terribly wrong.
Read More »2014 Forecast: New Year to Bring Mixed Trends
The forecast for 2014 includes a few bright spots, a couple of looming clouds, and some normalcy expected to precipitate the market, Realtor.com says in its outlook for the new year. Among the bright spots are the rising tide of positive equity and abating foreclosures. While 2.5 million homeowners rose from underwater during the year's second half, 7.1 million homeowners remain below water. However, "[t]he good news is that prices are expected to continue rising in 2014, which will lift more homeowners into positive territory."
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