For the second week in a row, mortgage rates moved lower for the week ending March 30, 2017, according to the latest Freddie Mac report.
Freddie Mac reported the 30 year fixed mortgage average was 4.14% with an average 0.5 point, a decrease from last week’s report when the average was 4.23%. A year ago at this time, it was 3.71%. (more…)
The United States Department of Justice (USDOJ) announced yesterday that Deutsche Bank and DB Group Services (UK) Limited (DBGS), a wholly owned subsidiary of Deutsche Bank AG (Deutsche Bank), were sentenced for manipulating London Interbank Offered Rates (LIBOR) for U.S. Dollar and several other currencies. (more…)
The Office of Inspector General, U.S. Department of Housing and Urban Development announced yesterday that several Massachusetts real estates professionals have either been arrested and or pleaded guilty for their involvement is a short sale fraud scheme of residential properties in Merrimack Valley. (more…)
The Federal Housing Finance Agency (FHFA) released its latest mortgage index report for February 2016 showing an increase in rates from January to February for conventional purchase-money mortgages.
National Average Contract Mortgage Rate Previously Occupied Homes
Mortgage performance continued to improve for first-lien home loans and delinquency rates are still on the way down, according to the Office of the Comptroller of the Currency’s (OCC) Mortgage Metrics Report, Fourth Quarter 2016. (more…)
Freddie Mac released its monthly Outlook for March today, showing home values have risen 76%, while per capita disposable income has risen by 72% from the end of 2016. (more…)
A former California Realtor was sentenced to 3 years in prison on Monday for her role in a mortgage fraud scheme, according to the United States Department of Justice (USDOJ). (more…)
A new report by Black Knight Financial Services shows that home values are up .1% month over month for January 2017 and have risen 5.4% year over year.
Three states hit new peaks in January – Massachusetts, New York and Washington made the top 20 list of the best performing states.
New York continued to lead the nation in terms of monthly appreciation for the seventh consecutive month, with prices rising 1.3 percent in January, more than double the rate of appreciation of the next best performing state.
Nine metro areas hit new peaks – Boston, MA; Columbus, OH; Dallas, TX; Denver, CO; Kansas City, MO; Nashville, TN; Portland, OR; San Francisco, CA; and Seattle, WA.
New York City was the month’s best performing metro area, with prices rising 1.3 percent, followed by Seattle and San Jose, each up 0.8 percent from December.
Alabama in becoming the worst performing state and Tuscaloosa, Alabama was once again the worst performing metro area in January, with prices falling another four percent in January and helping.
Here are the ten largest states and metro areas, ranked by population with the most growth. The changes of HPI from
December 2016 to January 2017.
Here is the complete January 2017 PDF report from Black Knight.
Mortgage lenders are much more optimistic these days as their profits rise and the economy improves while home prices soar.
A new survey by Freddie Mac shows that lending institutions of all sizes are optimistic about the direction of the economy, with the share of lenders who think it’s on the right track is at the highest level since the survey’s inception in the first quarter of 2014. (more…)
The Consumer Financial Protection Bureau (CFPB) announced today that one of the largest of the major credit bureaus, Experian was fined $3 million for deceiving customers about the use of credit scores it sold to consumers. (more…)
Sales of existing single-family homes which includes townhomes, condominiums and co-ops fell 3.7% to a seasonally adjusted annual rate of 5.48 million in February from 5.69 million in January, according to the latest report from the National Association of Realtors (NAR). (more…)
The National Association of Homebuilders (NAHB) said today that sales of new construction, single-family homes increased 6.1% in February to a seasonally adjusted annual rate of 592,000 units. (more…)
Freddie Mac announced today a new system to automate the assessment of borrowers without credit scores, provided they have payment references, including records showing timely housing payments. (more…)
The total mortgage application volume fell 2.7% from one week earlier, according to the latest report from the Mortgage Banker’s Association (MBA) for the week ending March 17, 2017. (more…)
Corelogic released its CoreLogic Housing Credit Index (HCI™) today showing that mortgages originated in Q4 2016 continued to exhibit low credit risk consistent and are among the highest-quality home loans originated since 2001. (more…)