From Freddie Mac today: Mortgage Rates Edge Down for Second Week Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates edging down for the second consecutive week following weak employment reports. 30-year fixed-rate mortgage (FRM) averaged 3.43 percent with an average 0.8 point for the...
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Fannie Mae reported that the Single-Family Serious Delinquency rate declined in December to 3.29% from 3.30% in November. The serious delinquency rate is down from 3.91% in December 2011, and this is the lowest level since March 2009. The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%. Freddie Mac reported that...
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Freddie Mac reported earlier today: Mortgage Rates Near Record Lows As Home Construction Builds Up Steam Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates edging slightly lower with the 30-year fixed averaging 3.37 percent, just above its all-time record low of 3.36 percent, and the...
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From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey The Refinance Index decreased 2 percent from the previous week. The seasonally adjusted Purchase Index increased 2 percent from one week earlier. “Refinance applications declined somewhat last week although volume is still near three-year highs, and purchase applications increased to the highest level...
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First, a little rent relief coming? From Brady Dennis and Amrita Jayakumar the WaPo: A renter’s respite: In Washington area, thousands of new units to open soon Thousands of new rental units under construction are scheduled to open in the coming months, the first such wave of new building in the area since the...
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LPS released their First Look report for April today. LPS reported that the percent of loans delinquent increased slightly in April from March, and declined year-over-year. The percent of loans in the foreclosure process was unchanged and remained at a very high level. LPS reported the U.S. mortgage delinquency rate (loans 30 or more...
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Form the MBA: Refinance Applications Up, Purchase Applications Down in Latest MBA Weekly Survey The Refinance Index increased 13.5 percent from the previous week. The seasonally adjusted Purchase Index decreased 11.2 percent from one week earlier. … The refinance share of mortgage activity increased to 75.2 percent of total applications from 70.5 percent the...
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Nick Timiraos at the WSJ has some details about the settlement. He also writes that the settlement documents might be filed in court tomorrow. Here is the online site for the mortgage settlement. Note the “National Mortgage Settlement (coming soon)” in the upper right. From Timiraos: Mortgage Deal Is Built on Tradeoffs Settlement documents,...
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From Alejandro Lazo at the LA Times: California calls -billion mortgage settlement ‘inadequate’ Calif. Atty. Gen. Kamala D. Harris’ office has called a proposed -billion settlement with the nation’s mortgage industry “inadequate.” “We’ve reviewed the details of the latest settlement proposal from the banks, and we believe it is inadequate for California,” Shum Preston,...
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Mortgage originations by the nation's largest four banks fell 20.4% in 2011 to a combined 7 billion from 2 billion in 2010, according to HousingWire analysis of the company's financial statements. Excluding Bank of America (BAC: 6.96 +2.35%), overall mortgage production among the big banks fell 6.3% in 2011. Citigroup's (C: 29.33 +1.03%) home...
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