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Mortgage rates increase after weeks of decline
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates rising for the first time in five weeks. 30-year fixed-rate mortgage (FRM) averaged 4.03% with an average 0.5 point for the week ending April 27, up from last week when it averaged 3.97%. A year ago at this time, the 30-year FRM averaged 3.66%. 15-year FRM this week averaged 3.27% with an average 0.4 point, up from last week when it averaged 3.23%. A year ago at this time, the 15-year FRM averaged 2.89%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.12% this week with an average 0.4 point, up from last week when it averaged 3.10%. A year ago, the 5-year ARM averaged 2.86%. For more, click here...
4/27/2017


Pending home sales dip in March
Pending home sales in March maintained their recent high level, but momentum slackened slightly in most of the country as dearth supply weighed on activity, according to the National Association of Realtors®. Only the South saw an uptick in contract signings last month. The Pending Home Sales Index, a forward-looking indicator based on contract signings, declined 0.8% to 111.4 in March from 112.3 in February. Despite last month's decrease, the index is 0.8% above a year ago. Lawrence Yun, NAR chief economist, says sparse inventory levels caused a pullback in pending sales in March, but activity was still strong enough to be the third best in the past year. "Home shoppers are coming out in droves this spring and competing with each other for the meager amount of listings in the affordable price range," he said. For more, click here...
4/27/2017


Mortgage applications increase
Mortgage applications increased 2.7% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 21. The Market Composite Index, a measure of mortgage loan application volume, increased 2.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 3% compared with the previous week. The Refinance Index increased 7% from the previous week. The seasonally adjusted Purchase Index decreased 1% from one week earlier. The unadjusted Purchase Index increased 0.1% compared with the previous week and was 0.4% higher than the same week one year ago.
4/26/2017


U.S. home prices march higher
U.S. home prices rose more than was anticipated for the month of February, according to new data from the S&P/Case-Shiller U.S. National Home Price Index. This happened as homebuyer demand continues to outweigh supply in the housing market. The national home price index jumped 5.8% in February, while analysts were expecting home prices to climb by 5.7% for the month, according to Thomson Reuters consensus estimates. This represents the most gains in 32 months. For more, click here...
4/25/2017


New-home sales hit eight-month high
New U.S. single-family home sales surged to an eight-month high in March, pointing to underlying strength in the economy despite an apparent sharp slowdown in growth in the first quarter. The Commerce Department said on Tuesday new home sales jumped 5.8% to a seasonally adjusted annual rate of 621,000 units last month, the highest level since July 2016. For more, click here...
4/25/2017


Existing-home sales hit highest pace in 10 years
Existing-home sales took off in March to their highest pace in over 10 years, and severe supply shortages resulted in the typical home coming off the market significantly faster than in February and a year ago, according to the National Association of Realtors®. Only the West saw a decline in sales activity in March. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, ascended 4.4% to a seasonally adjusted annual rate of 5.71 million in March from a downwardly revised 5.47 million in February. March's sales pace is 5.9% above a year ago and surpassed January as the strongest month of sales since February 2007 (5.79 million). For more, click here...
4/21/2017


Mortgage rates tumble below 4 percent
Freddie Mac (OTCQB: FMCC) released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year mortgage rate dropping below four percent and hitting its lowest mark since November 2016. 30-year fixed-rate mortgage (FRM) averaged 3.97% with an average 0.5 point for the week ending April 20, down from last week when it averaged 4.08%. A year ago at this time, the 30-year FRM averaged 3.59%. 15-year FRM this week averaged 3.23% with an average 0.5 point, down from last week when it averaged 3.34%. A year ago at this time, the 15-year FRM averaged 2.85%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.10% this week with an average 0.4 point, down from last week when it averaged 3.18%. A year ago, the 5-year ARM averaged 2.81%. For more, click here...
4/21/2017


Mortgage applications decrease
Mortgage applications decreased 1.8% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending April 14. This week's results do not include an adjustment for the Good Friday holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 2% compared with the previous week. The Refinance Index increased 0.2% from the previous week. The seasonally adjusted Purchase Index decreased 3% from one week earlier. The unadjusted Purchase Index decreased 3% compared with the previous week and was 1% lower than the same week one year ago. For more, click here...
4/19/2017


U.S. housing starts tumble; permits increase
U.S. homebuilding fell more than expected in March as the construction of single-family homes in the Midwest recorded its biggest decline in three years. However, an increase in building permits suggested the housing market recovery remained intact. Housing starts decreased 6.8% to a seasonally adjusted annual rate of 1.22 million units, the Commerce Department said on Tuesday. February's starts were revised up to a 1.30 million-unit pace from the previously reported 1.29 million rate. For more, click here...
4/18/2017


Builder confidence holds firm in April
Builder confidence in the market for newly-built single-family homes remained solid in April, falling three points to a level of 68 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) after an unusually high March reading. “Even with this month’s modest drop, builder confidence is on very firm ground, and builders are reporting strong interest among potential home buyers,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. For more, click here...
4/17/2017


Mortgage rates hit lowest mark of 2017
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year mortgage rate dropping for the fourth consecutive week and hitting a new low for 2017. 30-year fixed-rate mortgage (FRM) averaged 4.08% with an average 0.5 point for the week ending April 13, down from last week when it averaged 4.1%. A year ago at this time, the 30-year FRM averaged 3.58%. 15-year FRM this week averaged 3.34% with an average 0.5 point, down from last week when it averaged 3.36%. A year ago at this time, the 15-year FRM averaged 2.86%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.18% this week with an average 0.4 point, down from last week when it averaged 3.19%. A year ago, the 5-year ARM averaged 2.84%. For more, click here...
4/13/2017


Canada house price index posts record March increase
The Teranet-National Bank National Composite House Price Index – which measures monthly price increases in 11 major metropolitan markets in Canada – climbed by 0.9% in March over February, which was a record March increase. The gain is primarily attributable to four markets included in the index – Hamilton, Toronto, Victoria, and Vancouver – with Hamilton rising most quickly at 2.1% in March, and Toronto gaining 1.8%. Both cities set price gain records for March, and Toronto recorded its 14th consecutive month of price increases while Hamilton has seen prices grow for 13 straight months. For more, click here...
4/13/2017


Mortgage applications increase
Mortgage applications increased 1.5% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending April 7. The Market Composite Index, a measure of mortgage loan application volume, increased 1.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 3% compared with the previous week. The Refinance Index remained unchanged from the previous week. The seasonally adjusted Purchase Index increased 3% from one week earlier. The unadjusted Purchase Index increased 5% compared with the previous week and was 3% higher than the same week one year ago. For more, click here...
4/12/2017


Canadian housing starts hit highest level since September 2007
The annual pace of Canadian housing starts increased more than expected in March and hit their highest level since September 2007. The Canada Mortgage and Housing Corp. says the seasonally adjusted annual rate of housing starts for March came in at 253,720 units, up from 214,253 in February. For more, click here...
4/11/2017


Canadian building permits fall in February
The value of Canadian building permits fell in February, driven by a decrease in construction plans for single-family homes, government buildings, and elementary schools, data from Statistics Canada showed on Thursday. Permits decreased 2.5%, though January's figures were revised slightly higher to show a gain of 5.8%, from the originally reported 5.4%. For more, click here...
4/7/2017


Mortgage rates move lower
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year mortgage rate dropping for the third consecutive week and closing in on the 2017 low. 30-year fixed-rate mortgage (FRM) averaged 4.10% with an average 0.5 point for the week ending April 6, down from last week when it averaged 4.14%. A year ago at this time, the 30-year FRM averaged 3.59%. 15-year FRM this week averaged 3.36% with an average 0.5 point, down from last week when it averaged 3.39%. A year ago at this time, the 15-year FRM averaged 2.88%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.19% this week with an average 0.4 point, up from last week when it averaged 3.18%. A year ago, the 5-year ARM averaged 2.82%. For more, click here...
4/6/2017


Mortgage applications decrease
Mortgage applications decreased 1.6% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 31. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.6% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1% compared with the previous week. The Refinance Index decreased 4% from the previous week. The seasonally adjusted Purchase Index increased 1% from one week earlier. The unadjusted Purchase Index increased 1% compared with the previous week and was 8% higher than the same week one year ago. For more, click here...
4/5/2017


CoreLogic Home Price Index up 7%
CoreLogic® (NYSE: CLGX), a leading global property information, analytics, and data-enabled solutions provider, today released its CoreLogic Home Price Index (HPI™) and HPI Forecast™ for February 2017 which shows home prices are up both year over year and month over month. Home prices nationwide, including distressed sales, increased year over year by 7% in February 2017 compared with February 2016 and increased month over month by 1% in February 2017 compared with January 2017, according to the CoreLogic HPI. For more, click here...
4/4/2017


U.S. construction spending hits nearly 11-year high
U.S. developers ramped up construction spending in February to the largest amount in nearly 11 years, led by more building of homes, highways and schools. Construction spending rose 0.8% in February to the highest level since April 2006, after two months of declines, the Commerce Department said. For more, click here...
4/3/2017


Mortgage rates drop again
Mortgage rates decreased significantly for the second consecutive week as the Treasury yield remained flat. “Despite recent mortgage rate fluctuation, new home sales far exceeded expectations in February and jumped 6.1% to an annualized rate of 592,000,” Freddie Mac chief economist Sean Becketti said. The 30-year fixed-rate mortgage dropped to 4.14% for the week ending March 30. This is down from last week’s 4.23% but up from last year’s 3.71%. The 15-year FRM sank to 3.39%, down from last week’s 3.44% but still up from last year’s 2.98%. The five-year Treasury-indexed hybrid adjustable-rate mortgage decreased to 3.18%. This is down from last week’s 3.24% and up from 2.9% last year. For more, click here...
3/30/2017


Mortgage applications decrease slightly
Mortgage applications decreased 0.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 24. The Market Composite Index, a measure of mortgage loan application volume, decreased 0.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 0.4% compared with the previous week. The Refinance Index decreased 3% from the previous week. The seasonally adjusted Purchase Index increased 1% from one week earlier. The unadjusted Purchase Index increased 2% compared with the previous week and was 4% higher than the same week one year ago. For more, click here...
3/29/2017


Pending home sales rebound in February
Pending home sales rebounded sharply in February to their highest level in nearly a year and second-highest level in over a decade, according to the National Association of Realtors®. All major regions saw a notable hike in contract activity last month. The Pending Home Sales Index, a forward-looking indicator based on contract signings, jumped 5.5% to 112.3 in February from 106.4 in January. Last month's index reading is 2.6% above a year ago, is the highest since last April (113.6) and the second highest since May 2006 (112.5). For more, click here...
3/29/2017


U.S. new-home sales climb to seven-month high
Purchases of new homes increased in February to a seven-month high, indicating the effects of the recent rise in borrowing costs on the U.S. residential real estate market have been modest. Sales rose 6.1 percent to a 592,000 annualized pace, Commerce Department data showed Thursday. The median forecast in a Bloomberg survey called for a 564,000 rate. Warmer winter weather probably played a role in boosting demand as purchases in the Midwest surged by the most since October 2012. For more, click here...
3/23/2017


Mortgage rates drop
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates dropping after two consecutive weeks of increases. 30-year fixed-rate mortgage (FRM) averaged 4.23% with an average 0.5 point for the week ending March 23, down from last week when it averaged 4.30%. A year ago at this time, the 30-year FRM averaged 3.71%. 15-year FRM this week averaged 3.44% with an average 0.5 point, down from last week when it averaged 3.50%. A year ago at this time, the 15-year FRM averaged 2.96%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.24% this week with an average 0.4 point, down from last week when it averaged 3.28%. A year ago, the 5-year ARM averaged 2.89%. For more, click here...
3/23/2017


Mortgage applications decrease
Mortgage applications decreased 2.7% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 17. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 2% compared with the previous week. The Refinance Index decreased 3% from the previous week. The seasonally adjusted Purchase Index decreased 2% from one week earlier. The unadjusted Purchase Index decreased 2% compared with the previous week and was 5% higher than the same week one year ago. The Government Refinance Index decreased 12% to the lowest level since December 2014. For more, click here...
3/22/2017


Existing-home sales stumble in February
After starting the year at the fastest pace in almost a decade, existing-home sales slid in February but remained above year ago levels both nationally and in all major regions, according to the National Association of Realtors®. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, retreated 3.7% to a seasonally adjusted annual rate of 5.48 million in February from 5.69 million in January. Despite last month's decline, February's sales pace is still 5.4% above a year ago. For more, click here...
3/22/2017


Mortgage rates move higher
As expected, the FOMC announced its first rate hike of 2017 and hinted at additional increases throughout the remainder of the year. Although the Freddie Mac survey was conducted prior to the Fed’s decision, the release of the February jobs report all but guaranteed a rate hike and boosted the 30-year mortgage rate 9 basis points to 4.30% this week. Increasing inflation, continued gains in the labor market and the Fed’s intentions for further rate increases—all three will keep pushing mortgage rates up this year. 30-year fixed-rate mortgage (FRM) averaged 4.30% with an average 0.5 point for the week ending March 16, up from last week when it averaged 4.21%. A year ago at this time, the 30-year FRM averaged 3.73%. 15-year FRM this week averaged 3.50% with an average 0.5 point, up from last week when it averaged 3.42%. A year ago at this time, the 15-year FRM averaged 2.99%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.28% this week with an average 0.4 point, up from last week when it averaged 3.23%. A year ago, the 5-year ARM averaged 2.93%. For more, click here...
3/16/2017


U.S. housing starts reach four-month high
Beginning construction of U.S. houses climbed to a four-month high in February, led by the strongest pace of single-family homebuilding in nearly a decade. Residential starts advanced 3% to a 1.29 million annualized rate, a Commerce Department report showed Thursday. The median forecast of economists surveyed by Bloomberg was 1.26 million. Construction of one-family dwellings rose 6.5% to an 872,000 pace, the fastest since October 2007. For more, click here...
3/16/2017


Mortgage applications increase
Mortgage applications increased 3.1% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 10. The Market Composite Index, a measure of mortgage loan application volume, increased 3.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 4% compared with the previous week. The Refinance Index increased 4% from the previous week. The seasonally adjusted Purchase Index increased 2% from one week earlier. The unadjusted Purchase Index increased 3% compared with the previous week and was 6% higher than the same week one year ago. For more, click here...
3/15/2017


Builder confidence hits 12-year high
Builder confidence in the market for newly-built single-family homes jumped six points to a level of 71 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the highest reading since June 2005. “Builders are buoyed by President Trump’s actions on regulatory reform, particularly his recent executive order to rescind or revise the waters of the U.S. rule that impacts permitting,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. For more, click here...
3/15/2017


Mortgage rates hit 2017 high
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average 30-year fixed mortgage rates hitting their highest mark of 2017. 30-year fixed-rate mortgage (FRM) averaged 4.21% with an average 0.5 point for the week ending March 9, up from last week when it averaged 4.10%. A year ago at this time, the 30-year FRM averaged 3.68%. 15-year FRM this week averaged 3.42% with an average 0.5 point, up from last week when it averaged 3.32%. A year ago at this time, the 15-year FRM averaged 2.96%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.23% this week with an average 0.4 point, up from last week when it averaged 3.14%. A year ago, the 5-year ARM averaged 2.92%. For more, click here...
3/9/2017


Canadian housing starts, permits rise
Canadian housing starts inched higher in February from the previous month, and building permits rose in January as the long housing boom continued to defy expectations of a slowdown, separate reports showed on Wednesday. Groundbreaking on new homes climbed to seasonally adjusted annual pace of 210,207 units from an upwardly revised 208,934 in January as robust activity in Ontario offset cooling in British Columbia, data from the Canada Mortgage and Housing Corp showed. For more, click here...
3/8/2017


Mortgage applications increase
Mortgage applications increased 3.3% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 3. The previous week's results included an adjustment for the President's Day holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 3.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 16% compared with the previous week. The Refinance Index increased 5% from the previous week to the highest level since December 2016. The seasonally adjusted Purchase Index increased 2% from one week earlier. The unadjusted Purchase Index increased 15% compared with the previous week and was 4% higher than the same week one year ago. For more, click here...
3/8/2017


Mortgage rates break holding pattern, move lower
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average mortgage rates breaking their month-long plus holding pattern and moving lower. Thirty-year fixed-rate mortgage (FRM) averaged 4.10% with an average 0.5 point for the week ending March 2, down from last week when it averaged 4.16%. A year ago at this time, the 30-year FRM averaged 3.64%. 15-year FRM this week averaged 3.32% with an average 0.5 point, down from last week when it averaged 3.37%. A year ago at this time, the 15-year FRM averaged 2.94%. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.14% this week with an average 0.4 point, down from last week when it averaged 3.16%. A year ago, the 5-year ARM averaged 2.84%. For more, click here...
3/2/2017


U.S. construction spending fell in January
U.S. construction spending unexpectedly fell in January as the biggest drop in public outlays since 2002 offset gains in investment in private projects, pointing to moderate economic growth in the first quarter. The Commerce Department said on Wednesday that construction spending declined 1.0% to $1.18 trillion. Construction spending in December was revised to show a 0.1% increase rather than the previously reported 0.2% decline. For more, click here...
3/1/2017


Mortgage applications increase
Mortgage applications increased 5.8% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending February 24. This week's results included an adjustment for the Presidents' Day holiday. The Market Composite Index, a measure of mortgage loan application volume, increased 5.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3% compared with the previous week. The Refinance Index increased 5% from the previous week to its highest level since December 2016. The seasonally adjusted Purchase Index increased 7% from one week earlier. The unadjusted Purchase Index decreased 1% compared with the previous week and was 5% lower than the same week one year ago, which did not include the Presidents' Day holiday. For more, click here...
3/1/2017


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