U.S. Home Prices Fall Amid Brutal Winter Cold

  By CHRISTOPHER S. RUGABER WASHINGTON — U.S. home prices fell for the second straight month in December as brutally cold weather, tight supply and higher costs slowed sales. The Standard & Poor’s/Case-Shiller 20-city home price index declined 0.1 percent from November to December, matching the previous month’s decline. The index isn’t adjusted for seasonal…

Borrowers Who Refinanced in 2013 Made Huge Savings in Interest

Freddie Mac recently released the results of its fourth quarter 2013 quarterly refinance analysis, showing that borrowers are continuing to take advantage of near record low mortgage rates to lower their monthly payments, shorten their loan terms and overwhelmingly choosing the safety of long-term fixed-rate mortgages as they closed out 2013. Borrowers who refinanced in…

Mortgage Rates Stay Largely Unchanged

Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates little changed amid a week of light economic reports. The 30-year fixed-rate mortgage (FRM) averaged 4.51 percent with an average 0.7 point for the week ending January 9, 2014, down from last week when it averaged 4.53…

Two-Thirds of Consumers Still Value Homeownership

The worst housing crisis in generations and the slow rebound back to normalcy has not changed the view of homeownership for two-thirds (67 percent) of Americans, according to a new poll on housing from NeighborWorks America, a community development nonprofit organization. Meanwhile, renters have not been swayed to purchase a home despite near-record low mortgage…

2014: The Emerging Purchase Market

Freddie Mac recently released its U.S. Economic and Housing Market Outlook for November showing that the major shift for the coming year will be a transition from a refinance-dominated mortgage market to the first purchase-dominated market the industry has seen since 2000. Expect economic growth in the 2.5 to 3.0 percent range, more than 0.5…

U.S. Average on 30-Year Mortgage Rises to 4.29%

  By CHRISTOPHER S. RUGABER –  WASHINGTON — Average U.S. mortgage rates rose modestly this week, a move that makes home-buying a bit less affordable. Still, rates remain near historically low levels. Mortgage buyer Freddie Mac says the average rate on the 30-year loan increased to 4.29 percent from 4.22 percent last week. The average…

Home Mortgage Rates Head Down Again

  WASHINGTON — Average U.S. rates on fixed mortgages declined this week after two weeks of increases, keeping home-buying affordable. Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan fell to 4.22 percent from to 4.35 percent last week. The average on the 15-year fixed mortgage dipped to 3.27 percent…

Two-in-Five Borrowers Shorten Term when Refinancing

Freddie Mac recently released the results of its third quarter 2013 quarterly refinance analysis, showing that borrowers are continuing to take advantage of near record low mortgage rates to lower their monthly payments, shorten their loan terms and overwhelmingly choosing the safety of long-term fixed-rate mortgages. Borrowers who refinanced in the third quarter of 2013…

Mortgage Rates Rise for 2nd Straight Week

  WASHINGTON — Average U.S. rates on fixed mortgages rose for the second straight week amid some signs of economic strength. Still rates remain near historically low levels. Mortgage buyer Freddie Mac says the average rate on the 30-year loan increased to 4.35 percent from 4.16 percent last week. That’s the highest level since Sept.…

Home Mortgage Applications Continue to Slide

  Applications for U.S. home loans slipped in the latest week, although a drop in the previous week was revised to a smaller fall than previously reported, data from an industry group showed on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase…

Mortgage Applications Fall in Latest Week

  By Ryan Vlastelica –  NEW YORK — Applications for U.S. home loans fell in the latest week, reversing the previous week’s gain, data from an industry group showed Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 7 percent in…