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Today’s Bloomberg BusinessWeek article reported that, for the fifth consecutive week, the number of mortgage applications increased. This streak could be attributed to more people refinancing their loans as mortgage rates hit record lows. The Mortgage Bankers Association’s index was up 2.7% in the week ending August 27, according to the Bloomberg BusinessWeek article. Refinancing increased … Continue reading Mortgage Applications Index Increases for Fifth Straight Week Today’s issue of REALTORMag posted an article on the decrease in foreclosures but there are more people who are missing their payments. Citing data from the Mortgage Bankers Association’s National Delinquency Survey, the article says that, in the second quarter of 2010, foreclosure action was started on 1.11% of loans, down 12 basis points from the … Continue reading Fewer Foreclosures, But More People Falling Behind on Payments Despite mortgage rates falling to their lowest levels in decades, applications for home loans remained stagnant, the Associated Press reported today. The Mortgage Bankers Association says that overall applications rose 0.6% from the previous week, according to the AP. Applications for refinancing and home purchases increased by seasonally adjusted rates of 0.6% and 0.3%, respectively. The … Continue reading Record-Low Interest Rates Do Nothing for Mortgage Applications The Mortgage Bankers Association reported today that applications to purchase homes were up 1.5% last week compared to the previous week. This slight uptick could be attributed to the increasing volume of government loans and remarkably low mortgage rates. The unadjusted purchase index also rose by the same percentage, according to the MBA. Compared to four … Continue reading Mortgage Applications Rise 1.5% The second quarter of 2010 proved to be the most brutal time period in home ownership in a decade. Bloomberg News recently reported that 18.9 million homes were vacant in that period. The U.S. Census Bureau reported that the home ownership rate — that is, households that own their own residence — was 66.9 percent, … Continue reading Foreclosures Push Home Ownership to Record Lows The Wall Street Journal is reporting today that the number of mortgage applications to buy a home fell again to its lowest level in 13-1/2 years. The Mortgage Bankers Association released data showing that applications for new homes dropped by 3.1% last week from the week before. After seeing a 14-month high two weeks ago, the … Continue reading Mortgage Applications Fall Again The Associated Press reported today that there was an increase in the number of applications for home loans last week as people sought to take advantage of the ever-decreasing interest rates. But the people jumping on the low-interest rate bandwagon aren’t those looking to buy a home; it’s those who already own a home. Data from … Continue reading Mortgage Applications Rise, But — Still — No Buyers The Washington Post reported today that 30-year fixed-rate mortgages fell to 4.69% this week, down from 4.75% last week. According to Freddie Mac, this is the lowest rate since the government-owned lender tracked such data in 1971. This news should encourage more people to buy a home, but, in reality, the opposite is happening. Citing the … Continue reading Can Record-Low Mortgage Rates Propel Home Sales? Bloomberg BusinessWeek reported yesterday that mortgage applications have risen for the second week in a row. This increase could be attributed to gains in refinancing, cushioning a drop in purchases after the federal tax credit expired on April 30. According to the article, the Mortgage Bankers Association’s (MBA) index increased 0.9 percent in the week ending … Continue reading Mortgage Applications Increased 0.9% Last Week After weeks of seeing mortgage rates take off since the government stopped buying mortgage-backed securities last month, mortgage rates have fallen for the first time this week. Reuters reported today that interest rates on 30-year fixed-rate mortgages averaged 5.07% for the week ending April 15, down from 5.21% the week before. Last week’s rate was … Continue reading Mortgage Rates Drop for First Time in 5 Weeks |
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