Mortgage Rates & Trends

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While hints of inflation are emerging and the job market improved in January and February, mortgage lending standards remain tight and the housing industry is still anemic, according to the Federal Reserve Beige Book report released yesterday. “Recent activity in residential real estate varied, b...
Freddie Mac’s Primary Mortgage Market Survey came out this morning, and they found that mortgage rates declined for the third consecutive week as rising oil prices and unrest in the Middle East continues to roil the markets. The average rate on a 30 year fixed rate mortgage fell from 4.95 percent...
It seems increasingly likely that at some point the Supreme Court is going to have to make a ruling on the validity of real estate transfers and foreclosures through the Mortgage Electronic Registration System (MERS). MERS is a system that was created in order to allow mortgage originators to mor...
Quick update here: FHA REO inventory continues to skyrocket. According to a report from Jon Prior of HousingWire this morning, the FHA had nearly 61,00 repossessed homes on its books at the end of 2010, a 47% increase from 2009.  This is not really shocking, as REO inventory has been increasing a...
We are through the looking glass people: according to a Bloomberg article, the Arizona legislature is about to pass a law that would require lenders to prove they have the right to foreclose on a home before they do it.  Incredibly, they would be the first state in the nation to pass such a law. ...
They are according to an article on today. According to the article, adjustable rate mortgages (ARMs) comprised nearly 70 percent of all mortgages during the bubble years.  After the housing collapse their market share plummeted, dropping to only 3% of all mortgages in 2009.  Now tha...
FHA mortgages are about to become more expensive. HUD Secretary Shaun Donovan announced yesterday in a press release that the FHA will increase its annual mortgage insurance premium (MIP) by a quarter point on all 15 and 30 year loans.  Upfront MIP charges will remain at 1.0 percent.  The increas...
The resignation of Kevin Warsh, an interest rate hawk and QE2 opponent, from the Federal Reserve Board of Governors strengthens Ben Bernanke’s effort to decrease long-term interest rates. Warsh has criticized the Fed’s second round of quantitative easing, or QE2, a plan to purchase $600 billion o...
According to a report by the National Association of Realtors, the volume of home sales increased rather sharply during the final quarter of 2010. The third quarter showcased a sale of 4.16 million units, while the fourth quarter witnessed a 15.4 percent upsurge to 4.8 million units sold. The rep...
Mortgage rates have steadily climbed up for the past four weeks. With rates on the rise, mortgage applications have declined, according to the Mortgage Bankers Association’s  Weekly Survey. Also, since the housing market crisis started, many mortgage lenders have tightened their loan requirement ...

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