Many of today's would-be owners are woefully unprepared and misinformed when it comes to taking out a mortgage, Zillow discovered in a recent survey.
Read More »Mortgage Rates Continue to Attract HARP Activity in February
The Home Affordable Refinance Program (HARP) continued to bolster refinance numbers in February, according to a refinance report from the Federal Housing Finance Agency (FHFA). Fannie Mae and Freddie Mac reported 97,738 HARP refinances throughout the month, bringing the total number of HARP refinances (from the program's inception) to approximately 2.3 million. FHFA also reported HARP refinances accounted for 21 percent of total refinance volume in February.
Read More »Refinance Demand Lifts Mortgage Application Volume
The Market Composite Index in the Mortgage Bankers Association's (MBA) weekly applications survey rose 1.8 percent for the week ending April 26.
Read More »Freddie Mac Sees Strength in Construction as Other Sectors Flounder
Construction employment proved to be the silver lining in March's otherwise dismal job report, Freddie Mac says in its economic and housing outlook for April.
Read More »FHFA: Refinance Volume Still Strong in January, HARP Remains Popular
January saw nearly half a million new refinances, according to data released by the Federal Housing Finance Agency (FHFA).
Read More »FHFA Announces HARP Extension to 2015
The Federal Housing Finance Agency (FHFA) announced Thursday it is extending the life of the Home Affordable Refinance Program (HARP). Originally slated to expire at the end of this year, HARP will now expire December 31, 2015. The agency also announced it plans to launch a campaign in an attempt to reach more eligible borrowers for the program. While FHFA stated it can't provide "hard estimates" on the number of additional homeowners who are eligible, the hope is for a substantial number to be reached.
Read More »Study: Purchase Applications Outpacing Refinances in Six States
While last year's mortgage market was largely dominated by refinance loans, a new report from MortgageMarvel.com says the stage is already set in some areas for purchase loans to take point.
Read More »FBR’s Market Forecast Brightens After Predictions of Slow Quarter
After recently reporting predictions of declining originations, FBR Capital Markets & Co., now says the market looks a little brighter, and a resurgence of refinances through the Home Affordable Refinance Program (HARP) will contribute to originations volumes this year. While FBR maintains its prediction that origination volume will be lower than the volumes recorded in the second half of last year, the company now suggests originations "will largely be better than the 20-25 percent drop-off we projected late last week."
Read More »LPS: Credit Characteristics Continue to Improve
Credit standards continue to look better and better as the market pulls away from the bubble era and the subsequent crash, LPS says.
Read More »Freddie Mac Posts $11B Profit in 2012
Freddie Mac's net profit for 2012 totaled $11 billion, a marked turnaround from 2011's net loss of $5.3 billion. According to the company's earnings release, the increase reflects a decrease in delinquent single-family loans, improved national home prices, and a higher income tax benefit. Freddie Mac CEO Donald Layton attributed the reversal to last year's strengthened housing market and the company's efforts to "minimize legacy losses and build a strong book of business."
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