Freddie Mac released Thursday its Primary Mortgage Market Survey, which shows the 30-year fixed-rate mortgage (FRM) falling to an average rate of 4.13 percent (0.8 point) for the week ending October 24, down from 4.28 percent and the lowest level in about four months. "Mortgage rates slid this week as the partial government shutdown led to market speculation that the Federal Reserve will not alter its bond purchases this year," explained Frank Nothaft, VP and chief economist for Freddie Mac.
Read More »Platinum Data Rolls Out Three-Tier Scoring for RealView Solution
Platinum Data Solutions, a technology provider specializing in collateral evaluation and quality, has launched all-new upgraded scoring functionality for RealView, its configurable engine that processes and analyzes appraisals for compliance and completeness.
Read More »FHFA: August Marks 19 Months of Home Price Gains
Marking 19 consecutive months of appreciation, the Federal Housing Finance Agency (FHFA) House Price Index rose 0.3 percent on a seasonally adjusted monthly basis in August. On a yearly basis, the index is up 8.5 percent. Of the nine census divisions, FHFA detected the greatest monthly price increase in the Mountain division, where prices increased 1.3 percent in August. The greatest monthly decrease took place in the South Atlantic division, where prices declined 0.5 percent.
Read More »Economy Not Expected to Recover While Construction Struggles
Depressed construction activity is expected to continue weighing down both housing and the larger economy, Freddie Mac predicts in its latest Economic and Housing Outlook.
Read More »MCS Names New CFO
Mortgage Contracting Services (MCS) announced that Paul Lee has been named CFO.
Read More »Mortgage Application Volumes Return to Decline
The Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey shows loan application volume fell a seasonally adjusted 0.6 percent for the week ending October 18.
Read More »Feds: New Rules Not Expected to Interfere with Fair Lending
Five federal agencies issued Tuesday a statement assuring creditors that they do not run the risk of being found in violation of fair lending laws should they choose to only originate qualified mortgages (QM) as defined earlier in the year. With creditors having to consider a balance of secondary market opportunities, capital requirements, and credit and liability risk, regulators say they expect there will be a need for most businesses to fine-tune their products in response--something they should be used to.
Read More »Spending on Home Construction Up in August Report
The Census Bureau put construction spending at a seasonally adjusted annual rate of $915.1 billion in August, a slight increase over July's spending. On the private side, the Census estimated construction spending was at an adjusted rate of $640.5 billion, 0.7 percent above the revised July estimate of $636.1 billion. Private residential construction spending was $340.2 billion, a 1.2 percent increase from July and an 18.7 percent increase from August 2012.
Read More »Analysts: Rising Rates Contributing to Housing’s Slowdown
Capital Economics is ready to acknowledge that rising mortgage rates may provide more drag than the firm's analysts first thought.
Read More »30-Year Veteran Takes CIO Role at ValuTrac
ValuTrac Software, a software solutions provider to the appraisal management and mortgage lending industry, announced the hiring of David Yavorsky as the company's new CIO.
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