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Mortgage & Housing Market News from HSH.com

Mortgage credit availability reverses course

May 13th, 2014 | Leave a Comment | Posted in News by Marcie Geffner

rejectedBorrowers who believe mortgage credit is more difficult to get these days have some evidence to support their perception. What good are low mortgage rates if you can’t access them?

In April, mortgage credit became slightly less available, according to an index tracked by the Mortgage Bankers Association (MBA), a trade organization in Washington, D.C.

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NAHB: Housing markets continue slow, steady recovery

May 8th, 2014 | Leave a Comment | Posted in News by Marcie Geffner

rising housing costsHousing markets in U.S. cities are well into a slow, yet steady recovery, according to the latest monthly index tracked by the National Association of Home Builders (NAHB), a trade group in Washington, D.C.

This month, 300 of the 351 metro markets that were measured showed year-over-year economic gains, and 59 of the metros matched or exceeded their last normal levels of economic and housing activity, the NAHB stated.

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Mortgage rates fall despite employment report

May 5th, 2014 | Leave a Comment | Posted in News by Tim Manni

falling ratesMortgage rates should be firming given that the tenor of the spring economic reports has been much stronger than the reports released this past winter. However, mortgage rates are still finding room to fall.

Even the surprisingly upbeat unemployment report on Friday–a report that usually has a direct impact on mortgage rates–failed to push mortgage rates higher.

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Low mortgage rates fail to ignite mortgage applications or home sales

May 1st, 2014 | Leave a Comment | Posted in News by Marcie Geffner

int rate QMarkMortgage rates are still low by historical standards, yet the latest data suggest cheap financing alone is no longer enough to lure more people to apply for mortgages.

The Mortgage Bankers Association’s (MBA) weekly index that measures the volume of new refinance and purchase applications dropped 5.9 percent for the week ended April 25 compared with the prior week.

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Market tilts toward purchase loans

April 23rd, 2014 | 1 Comment | Posted in News by Marcie Geffner

Fran Images--SoldAfter years of a refinance boom in which homeowners replaced their existing home loans with new ones at lower mortgage rates, the mortgage market today has tilted substantially away from refinancing to purchase loans for homebuyers.

The latest evidence was a recent report released by Ellie Mae, which provides technology systems for residential mortgage companies.

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Mortgage rates return to 2014 lows

April 21st, 2014 | Leave a Comment | Posted in News by Tim Manni

Last Monday we said, “We actually have a shot at setting 2014 lows this week if investors continue to shun stocks at the rate they have lately, and especially if there’s nothing in the economic news of concern.”

Well, that all seemed to be the case last week as mortgage rates returned to the lowest point last seen in February. Read the rest of this entry »

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Remodeling activity stays strong despite ’sluggish’ housing

April 17th, 2014 | 1 Comment | Posted in News by Marcie Geffner

Spending for home remodeling is expected to post solid growth this year, though that momentum might begin to slow in the October, November and December timeframe, according to a statistical analysis known as the Leading Indicator of Remodeling Activity (LIRA).

The latest LIRA was released today by the Remodeling Futures Program at the Joint Center for Housing Studies (JCHS) at Harvard University in Cambridge, Mass.

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Mortgage rates headed towards 2014 lows?

April 14th, 2014 | 2 Comments | Posted in News by Tim Manni

falling rates“By all rights mortgage rates should be rising by now,” wrote Keith Gumbinger, vice president of HSH.com, in the latest Market Trends newsletter, but thanks to an inconsistent economy here at home and a rocky situation in many countries abroad, mortgage rates continue to find more room to settle.

“Each time there appears to be sufficient reason for rates to kick higher, something else comes along to press them back down.” Read the rest of this entry »

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Economy is primary concern for pessimistic homebuyers

April 9th, 2014 | 1 Comment | Posted in News by Marcie Geffner

6-Fannie-Mae-logoThe U.S. housing recovery “continues to proceed in fits and starts.”

That’s according to Doug Duncan, chief economist of Fannie Mae in Washington, D.C.

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Jobs help to firm mortgage rates

April 7th, 2014 | Leave a Comment | Posted in News by Tim Manni

WinterThe long, cold winter that persisted in much of the U.S. seems to get the majority of the blame for the economy’s slow start to 2014. “The freshest economic indicators suggest that we are starting to move away from any weather-related holdback in growth, but it looks as though it will be more of a ’slipping away from’ than a ’shaking off’ process,” wrote Keith Gumbinger, vice president of HSH.com, in the latest Market Trends newsletter.

A gradual trend of economic improvement should bring higher mortgage rates along with it. While mortgage rates remained at January levels last week, they’re still below 2014 highs. Read the rest of this entry »

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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