Mortgage application volumes finished out the summer on a low note, slipping nearly half a percentage point as home purchase numbers hit a near 20-year low. Based on ...
Read More »Analyst: Mortgage Market on Track for Meltdown
In a note sent earlier this week, equity research analyst Richard Bove at Rafferty Capital Markets warned clients of a potential mortgage crisis in the making, according to a report from CNBC. With the Federal Reserve on track to end its monthly bond purchases, Bove cautions that the loss of one of the tools used to help lift housing out of its post-recession rut could hurt the market, especially as interest rates start to tick back up.
Read More »The MReport Webcast: Wednesday 9/3/2014
With Labor Day ringing in the final weeks of summer, activity in most local housing markets is set to come down from its yearly peak. Based on trend ...
Read More »Home Purchase Apps Hit Near 20-Year Low
Based on weekly data released by the Mortgage Bankers Association (MBA), macroeconomics firm Capital Economics calculated a 0.4 percent monthly decline in mortgage applications in August. It was the third drop in the last three months, following declines of 0.1 percent in June and 3.4 percent in July.
Read More »Annual Home Price Growth Slows to 7.4%
CoreLogic's Home Price Index (HPI) rose 1.2 percent from June to July, the company reported, lifting slightly from June's 1.0 percent monthly gain. The improvement includes both distressed and non-distressed sales. Compared to a year prior, July's index was up 7.4 percent, barely down from 7.5 percent in June. As of the July report, the national HPI has risen year-over-year for 29 straight months.
Read More »Historical Home Search Trends Indicate Approaching Slump
Based on trend data collected from 2011–2013, Trulia reported Tuesday that home searches on its website nationally come in 6 percent below the annual average for the months of September and October as summer transitions into fall. Trulia's analysis follows a report last week from Redfin in which Chief Economist Nela Richardson predicted the strongest fall season in years for home sales as the market comes closer to balance.
Read More »Payment Shock Looms with 2.5M HELOCs Poised to Reset
Payment shock among holders of home equity lines of credit (HELOCs) is a growing concern as 2.5 million HELOCs are scheduled to reset over the next three years, according to the latest Mortgage Monitor Report from Black Knight Financial Services. In fact, the average HELOC holder faces a monthly payment increase of $250 sometime in the next three years as he or she reaches the end-of-draw period.
Read More »The MReport Webcast: Tuesday 9/2/2014
The balance of power in the housing market is continuing its tilt back to buyers—and that could spell a surge in home sales in the coming months. In ...
Read More »Is a Housing Surge in the Cards for Fall?
The balance of power in the housing market is continuing its tilt back to buyers—and that could spell a surge in home sales in the coming months. In the brokerage's latest Real-Time Housing Market Tracker, Redfin Chief Economist Nela Richardson notes two ongoing trends indicating a shift to a more balanced market as the nation heads into fall.
Read More »The MReport Webcast: Friday 8/29/2014
An early indicator of home sales suggests market activity should continue to increase in the coming months as the nation's housing stock rebuilds. The National Association of Realtors ...
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