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Mortgage Brokers

Welcome to the special Real Estate Industry Bulletin for Mortgage Brokers.

FHFA 3Q home-price index back down after increase in 2Q

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FHFA 3Q home-price index back down after increase in 2Q

Home prices declined during the third quarter after rising slightly the previous quarter, which was the first quarterly increase in three years. The Federal Housing Finance Agency said its third quarter, purchase-only home price index — calculated using information from mortgages acquired by Fannie Mae and Freddie Mac — is 1.6% lower than the...
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Mortgage interest rates increase in two nonagency surveys

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Mortgage interest rates increase in two nonagency surveys

Mortgage rates fell in two weekly surveys. The Bankrate national mortgage survey reported the interest rate for a 30-year fixed-rate mortgage at 4.58%, down from 4.62% a week prior, while a survey from LendingTree.com reported the rate at 4.55%. Freddie Mac reported Wednesday that the average rate for a 30-year FRM increased slightly to...
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More homeowners paying cash in effort to deleverage

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More homeowners paying cash in effort to deleverage

Cash was the top source of financing home purchases in September, as more homeowners look to deleverage their debt. According to a recent Campbell/Inside Mortgage Finance survey, 30.5% of home purchases during the month were financed with cash, up from 24.4% in January. The survey attributed this jump to the amount of distressed properties...
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Schedule for Week of November 21st

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Schedule for Week of November 21st

This is a holiday week (Happy Thanksgiving!), but there will be plenty of data released early in the week. The key releases are existing home sales (on Tuesday) and New home sales (on Wednesday). —– Monday, Nov 22nd —– 8:30 AM ET: Chicago Fed National Activity Index (October). This is a composite index of...
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Freddie Mac survey shows mortgage rates at highest level since August

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Freddie Mac survey shows mortgage rates at highest level since August

Mortgage interest rates increased for the first time in two months to move away from historic lows while remaining considerably lower than a year ago. Freddie Mac said its Primary Mortgage Market Survey showed the average 30-year, fixed-rate mortgage rose to 4.39% this week from 4.17% a week earlier. The average rate for the...
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FHA mortgage insurance beats private market 25-fold: KBW

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FHA mortgage insurance beats private market 25-fold: KBW

The Federal Housing Administration wrote 9 billion in new insurance in 2010, more than 25 times the .4 billion in new insurance written by the top five private companies over the last year. Investment bank Keefe, Bruyette & Woods analyzed the third quarter statistics at MGIC Investment Corp. (MTG: 8.205 -2.21%), Genworth Financial (GNW:...
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More parents buy homes for college-aged children, real estate agents say

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More parents buy homes for college-aged children, real estate agents say

Real estate agents said more parents are opting to buy their children a home in college towns rather than pay rent for an apartment or dormitory fees, according to a survey from Coldwell Banker Real Estate. Of the 425 real estate professionals questioned in markets home to major colleges or universities, 64% said they...
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Consumer Sentiment increases slightly in November

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Consumer Sentiment increases slightly in November

The preliminary Reuters / University of Michigan consumer sentiment index increased slightly in November to 69.3 from 67.7 in October. Click on graph for larger image in new window. This was a big story in when consumer sentiment collapsed again in July. Since then this measure of consumer sentiment has mostly moved sideways at...
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Real Estate Lease Options

Real Estate Lease Options

In simplest terms, a real estate lease option is the right to control a property without the obligation to buy it. As a real estate investor, when you have such an option, you have the opportunity to buy a property during a set period of time, but you aren’t required to do so. The...
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Weekly Initial Unemployment Claims decrease to 435,000

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Weekly Initial Unemployment Claims decrease to 435,000

The DOL reports on weekly unemployment insurance claims: In the week ending Nov. 6, the advance figure for seasonally adjusted initial claims was 435,000, a decrease of 24,000 from the previous week’s revised figure of 459,000. The 4-week moving average was 446,500, a decrease of 10,000 from the previous week’s revised average of 456,500....
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