Home Prices Edge Up, But No Signs of a Hard Recovery

A national index of home prices in 20 major cities increased 3.8 percent in April compared to a year ago – and most saw improvements over the previous month, according to the S&P/Case-Shiller indices. But home prices remain close to the lows set a year ago, and nine of the 20 cities have reached new lows over the past six months.

Fixed Mortgage Rates Hit Record Lows: 4.69%; 4.13%

After weeks of flirting with the record, the 30-year fixed mortgage reached a new low of 4.69 percent this week, down from 4.75 percent last week, according to Freddie Mac. The survey’s all-time low for the long-term rate was previously set Dec. 3, 2009 at 4.71. Freddie Mac has been tracking the benchmark rate since 1971.

Tax Credit Fadeout Sends New Home Sales Plummeting

Sales of new single-family homes virtually collapsed in May following the expiration of homebuyer tax credits, falling by a record 32.7 percent. The Commerce Department’s report of a 300,000-unit annual rate for May was the lowest level recorded since such data tracking was initiated in 1963.

Mortgage Applications, Existing Home Sales Decline

Two major indicators point to a sluggish housing market with more uncertainty for the summer months ahead as both mortgage applications and existing home sales are easing.
The Mortgage Bankers Association today said its overall applications index last week decreased 6 percent from the previous week. Despite mortgage rates at or near historic lows, even refinancing slowed.

Mortgage Rates See Little Change, Hold Near Historic Lows

The 30-year fixed rate mortgage averaged 4.75 percent this week, up slightly from last week’s 4.72 percent – still holding at near its record low, according to Freddie Mac’s market survey update. Freddie Mac’s all-time low for the long-term rate was set Dec. 3, 2009 at 4.71. The survey has been tracking the 30-year fixed rate since 1971. A year ago, the 30-year rate was at 5.38 percent.

Housing Rebound? Mortgage Applications Up After Long Slump

A key index that gauges mortgage applications for purchases and refinancing shot out of a long slump last week, as historically low interest rates spurred initial borrowing activity. The Mortgage Bankers Association’s index of overall mortgage applications rose 17.7 percent last week, from one week earlier.

Post-Tax Credit Slump: Homebuilder Confidence Sinks

A key index that measures the housing market confidence among home builders fell five points to 17 in June, as a slump in demand following the expiration of tax credits and financing concerns took their toll. A second one that measures sales expectations for the next six months also declined – by four points to 23 in June.

Historic Lows: 30-Year Mortgage at 4.72%; 15-Year at 4.17%

The key 30-year fixed mortgage rate flirted with its record low this week by sliding to 4.72 percent from last week’s 4.79 percent, according to Freddie Mac’s survey.
The survey’s all-time low for the long-term rate was set Dec. 3, 2009 at 4.71. Freddie Mac has been tracking the benchmark rate since 1971.

Mortgage Applications Index Takes 12.2% Dive, Despite Low Rates

Homebuyers have yet to return to a market feeling the aftershocks of the April 30 tax credit expiration – despite near or record low rates, according to the Mortgage Bankers Association’s weekly index of purchase and refinance applications. The MBA’s overall index measuring mortgage loan volume slid 12.2 percent last week, even after an adjustment to account for the Memorial Day holiday.

Countrywide to Pay $108M for Mortgage ‘Inflated Fees’: FTC

Countrywide Home Loans is required to pay $108 million to settle charges by the Federal Trade Commission that two of its servicing units collected excessive fees from borrowers who were struggling to keep their homes. Countrywide is a subsidiary of Bank of America, but the charges stem from alleged practices that took place before the mortgage servicing company was acquired by BofA in July 2008.

« Previous Page — Next Page »