Category Archives: Mortgage Markets

England, Housing and Economic Recovery

One argument in the debate over what caused the financial crisis is that since other countries including England had housing booms; Fannie Mae, Freddie Mac and mortgages securitization weren’t the only problems.  Recent news from England may make people reconsider a bit. The Bank  of England is curtailing its “Funding for Lending”  program and reducing […]

September Foreclosure Activity Down 27% From Year Ago, 36th Month With Annual Declines

RealtyTrac® (www.realtytrac.com) released its U.S. Foreclosure Market Report™ for September and the third quarter of 2013, on October 11th. Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 131,232 U.S. properties in September, a 2 percent increase from the previous month but a 27 percent decrease from a year ago. […]

Mortgage Application Shifts

Mortgage applications continue to adjust to changing views of interest rates and home prices.  Applications for mortgages for purchasing a home peaked at the beginning of May as talk of rising interest rates appeared and are now down almost 15% as of October 4th.  Even with that decline, the Mortgage Bankers Association index of applications […]

Mortgage Refinance Activity Drops

As interest rates have climbed since last May, mortgage applications have dropped steadily and the damage is concentrated in refinancing activity.   The volume of mortgages for refinancing homes is down 64% from May 17th to September 6th while the volume for purchase is down 11% over the same period.   Over the last year (since September […]

Home Sales and Mortgage Rates

With Mortgage Rates climbing and expected to rise further, this is a good time to look at how home sales might be affected.  The news is not good — however it is too soon to panic because no one expects rates to surge to stratospheric levels.  Most of the time home sales fall as  mortgage […]

Foreclosure Activity Down 25% from Febraury 2012, Up 2% From January

RealtyTrac® (www.realtytrac.com), released its U.S. Foreclosure Market Report™ for February 2013 on March 14th. The report shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 154,281 U.S. properties in February, an increase of 2 percent from the previous month but still down 25 percent from February 2012. The report also […]

Foreclosure, Short Sales 43% of US Residential Sales in 2012

RealtyTrac® (www.realtytrac.com), released its Q4 and Year-End 2012 U.S. Foreclosure & Short Sales Report™ on February 28th. The report  shows a total of 947,995 U.S. properties in some stage of foreclosure or bank-owned (REO) were sold during the year, a decrease of 6 percent from 2011 and down 11 percent from 2010.  These foreclosure-related sales accounted […]

With Mortgage Defaults Rising Again, is the Underlying Health of Municipalities Getting Weaker?

Canary in the coal mine?  With data from the S&P/Experian Consumer Default Indices showing first mortgage default rates have been ticking upward since September 2012, is this a sign that municipalities may see the weak economic cycle extended?  Read the complete S&P/Experian Consumer Credit Default Indices Press Release.

Consumer credit default rates improve again in August

On September 18th S&P Dow Jones Indices and Experian released August 2012 data for the S&P/Experian Consumer Credit Default Indices, which measure consumer credit default rates. August data showed declines in the composite, first mortgage and second mortgage default rates. The national composite declined to 1.50% in August from July’s 1.51% rate, the first mortgage […]

Consumer credit default rates improve further in July 2012

On August 21st S&P Dow Jones Indices and Experian released July 2012 data for the S&P/Experian Consumer Credit Default Indices, which measure consumer credit default rates. July data showed a small decline in the composite index, while first mortgage default rate were unchanged and second mortgage default rates rose by two basis points. The national […]

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