finance: How Many Homeowners are Still Underwater?
- 07/10/12 02:18 AM
While the rising home prices are a good sign for a recovering economy, there are still many homeowners underwater. According to the Zillow Negative Equity Report, 31.4% of borrowers this quarter owe more on their home than it is worth, a statistic that is unprecedented. The Zillow Negative Equity Report takes mortgage data from leading credit and information management firms to create their statistics. Some things that are included in the report are negative equity, loan-to-value ratios, and delinquency rates. Negative equity is measured by estimating the value of a home matched to all outstanding mortgage debt and lines of credit associated … (1 comments)
finance: Mortgage Applications Fell Slightly Last Week
- 03/12/12 05:18 AM
Mortgage application activity declined slightly in the week ending March 2, despite home purchases picking up,an industry group said recently. The MBA's seasonally adjusted index of refinancing applications was down 2.0 percent that week; however, loan requests for home purchases rose 2.1 percent. According to the MBA, the 1.2 percent drop in mortgage application activity is due to a slowing demand for refinancing, which is included in the industry group's calculations. Low interest rates could also be attracting new buyers to the market, as 30 year fixed rate mortgages averaged 4.06 percent that same week. ---- Below are last week's … (0 comments)
finance: Mortgage Rates Fall Again to Record Lows
- 12/22/11 04:40 AM
30 year and 15 year fixed mortgage rate averages fell to record lows according to Freddie Mac's market survey which came out earlier this morning. The 30 year average came in at 3.91% with 0.7 points. This was down 0.03% from last week's all-time low. The 15 year fixed rate average tied last week's number at 3.21% with 0.8 points. Last year at this same period the 30 year average was 4.87% and the 15 year average was 4.15%. The survey also highlighted the 5/1 treasury indexed ARM average at 2.85% with 0.6 points. Freddie Mac's Chief economist, Frank Nothaft noted … (0 comments)
While the rising home prices are a good sign for a recovering economy, there are still many homeowners underwater. 
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