Home >> Tag Archives: Housing Affordability (page 28)

Tag Archives: Housing Affordability

Don’t Believe All the Downturn Hype: Capital Economics

Negative reports on the economy may be shaking up confidence, but Capital Economics released a report Friday stating that in their view, the foundations for a sustainable recovery are still in place. The employment situation in the U.S. and issues overseas such as the euro-zone crises are all taking a toll on the economy and consumer confidence. Yet, there are still reasons to make the argument that the recovery is not going to be derailed. Home sales and prices have increased, and mortgage affordability stays high.

Read More »

Mortgage Rates Race to New Lows as Job Growth Wavers

As the employment situation continues to raise concerns, fixed rates fell even lower, slipping yet again to new record lows, according to a survey from Freddie Mac released Thursday. The 30-year fixed-rate mortgage averaged 3.67 percent (0.7 point) for the week ending June 7, falling from last week's average of 3.75 percent. The 15-year fixed rate declined even further below 3 percent to 2.94 percent (0.7 point), down from last week's 2.97 percent. A year ago at this time, the 15-year fixed-rate mortgage averaged 3.68 percent.

Read More »

Fannie Mae: Unsure Consumers Could Slow the Recovery

Lulls in employment and income growth led to a plateau in consumer sentiment in May, according to Fannie Mae├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós May 2012 National Housing Survey. The data released by Fannie Mae on Thursday showed that although many consumers (72 percent) believe that now is a good time to purchase a house, the percentage of respondents who said they would buy a house after moving actually dropped for the second consecutive month ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô 63 percent in May compared to 64 percent in April and 66 percent in March. Fifteen percent of respondents said now is a good time to sell a home.

Read More »

Slight Uptick in Applications Driven Solely by Refinances

Mortgage applications increased 1.3 percent on a seasonally adjusted basis in May, according to the Mortgage Bankers Association's latest mortgage application survey released Wednesday. The survey measured application data for the week ending June 1 and included an adjustment for the Memorial Day holiday. On a non-seasonally adjusted basis, application rates were not as strong, falling more than 9 percent from the previous week. Refinances continue to make up a large portion of mortgages, taking up 78 percent of activity for the week, up 1 percent from the previous week.

Read More »

Thirty-Year Fixed Mortgage Rate Ties Record Low: Zillow

The 30-year fixed mortgage rate tied the all-time low at 3.59 percent, down one basis point from last week, according to a Zillow report released Tuesday. The real estate Web site also found the 15-year fixed-rate mortgage averaging 2.95 percent, while rates for 5-year and 1-year adjustable-rate mortgages hovered at 2.6 percent. The last time Zillow reported the same low mortgage rate was May 18. New York and Illinois both saw base points decrease by 9 and 11 points respectively.

Read More »

In Housing Finance Proposals, Treasury Finds Questions, Not Answers

More than a year after releasing a white paper that set forth three options for housing finance reform, Treasury and HUD struggle to determine the best path forward for America's housing finance system. Speaking before an audience at a meeting of the American Real Estate and Urban Economics Association, Counselor to the Treasury Secretary for Housing Finance Michael Stegman explained that rather than answering the broader question of what the future of housing should look like, each proposal seems to ignite a slew of additional critical questions.

Read More »

First-Quarter HARP Refinances Double From Q4 2011: FHFA

The number of loans refinanced through HARP in the first quarter of 2012 was nearly double the number of refinances in the fourth quarter of 2011, according to the Federal Housing Finance Agency's March 2012 Refinance Report released Friday. The report showed that 180,185 loans were refinanced through HARP during the year├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós first quarter, nearly twice the 93,190 refinances in the previous quarter. The month of March alone saw 79,470 loans refinanced with HARP, implicating nearly one in seven loan refinances in the quarter.

Read More »

Single-Family Home and Condo Sales on the Rise in Connecticut

In Connecticut, single-family home sales are up 25 percent in April while median home prices are down 5 percent, according to a report released Thursday by The Warren Group. This increase marks the fourth consecutive month sales have been rising year-over-year. In April, 1,946 single-family homes were sold, up from 1,550 the same month in 2011. This level is the highest reported in home sales so far, beating the 1,610 sales recorded in March. Similarly, condominium sales also increased while the median cost decreased.

Read More »

Fixed Mortgage Rates Continue to Break Record Lows

As the debt crisis in Europe continues to worsen and investors look to Treasury bonds for security, fixed mortgage rates fell to all-time record lows in the last week of May. According to the results of Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed averaged 3.75 percent with an average 0.8 point for the week ending May 31. This is down from 3.88 percent the previous week and 4.55 percent at the same time last year. The 15-year fixed rate mortgage also fell, bringing three of the four benchmark mortgage rates under 3 percent.

Read More »

Mortgage Applications Fell 1.3% Last Week: MBA

application

Despite record-low mortgage rates, mortgage applications fell 1.3 percent last week, according to the Mortgage Bankers Association. The trade group found that mortgage loan application volume declined by a seasonally adjusted 1.3 percent. It fell 1.6 percent on a seasonally unadjusted basis.The Refinance Index climbed down by 1.5 percent from the week before, with declines on the way for the seasonally adjusted Purchase Index by 0.6 percent. The same index went down by a seasonally unadjusted 1.8 percent.

Read More »

Subscribe to MDaily

MReport is here for you to stay on top of important developments in the mortgage marketplace. To begin receiving each day’s top news, market information, and breaking news updates, absolutely free of cost, simply enter your email address below.