The number of U.S. homes in the foreclosure process plunged in 2015 to its lowest level since 2007, an 8-year low. That is just one of several great pieces of new for the mortgage market released by foreclosure information firm CoreLogic in a recent report.
In its November 2015 National Foreclosure Report, CoreLogic showed that there were 448,000 properties in the foreclosure process as of November 2015, a 21.8 percent decline from 573,000 the year before. That number represents 1.2 percent of Read more [...]
The U.S. housing market has seen a major decline in the percentage of buyers paying for homes with cash over the past several years, according to the National Association of Realtors, a sign that investors are being replaced by traditional homebuyers. The net effect should be a stabilizing of the market with more gradual price increases over the long term.
The NAR found that 23 percent of all existing-home sales in July were all-cash sales. And while that figure is up slightly from June’s 22 Read more [...]
Fewer homeowners in the foreclosure process in the 2015 second quarter were seriously underwater – when the remaining mortgage is more than 25 percent higher than the value of the property – according to housing data firm RealtyTrac. The increase in equity for many troubled homeowners may help save some from losing their homes.
During the second quarter of this year, there were 7,44,580 seriously underwater U.S. properties, representing 13.3 percent of all homes with a mortgage. That number Read more [...]
Foreclosure numbers have been falling in the past few years, but one segment of mortgage-borrowers continues to have an unusually high percentage of defaults – jumbo loan customers.
Jumbo loans are those made for mortgages more than $417,000 in most areas of the country. For the top layer of jumbo loan borrowers – those taking out loans of $750,000 or more – the foreclosure rate was 2.5 percent in December 2014, according to real estate analytics firm CoreLogic. By comparison, the national Read more [...]
Sales of existing U.S. homes rose for the second month in a row, according to the National Association of Realtors, aided by super low interest rates and a stronger economy.
Total existing-home sales increased 1.5 percent to a seasonally adjusted annual rate of 5.26 million last month, up from 5.18 million in September and up 2.5 percent from one year ago. Sales have reached their highest pace since September 2013.
At the same time, the number of existing-homes on the market fell 2.6 percent Read more [...]
Americans are keeping up with their mortgages on a widespread level, with delinquencies falling to more-than-six year lows in the latest quarter, according to a new report from the Mortgage Bankers Association.
The U.S. mortgage delinquency rate fell to a seasonally adjusted 6.04 percent in the second quarter of 2014, down from 6.11 percent in the first quarter and down from 6.96 percent a year earlier. The delinquency rate includes residential properties with between one to four units that are Read more [...]
After a slow start this year, sales of existing U.S. homes finally made some forward progress in April, according to the National Association of Realtors, as inventory jumped and prices moderated.
Total existing-home sales rose 1.3 percent to a seasonally adjusted annual rate of 4.65 million last month, up from 4.59 million in March. Compared with last year at the same time, sales are down 6.8 percent though.
A major jump in available inventory helped home prices to grow at a more relaxed pace Read more [...]
A downward trend in existing home sales continued in March but runaway home prices kept up their own pace too, a sign of a seriously unbalanced market.
U.S. existing home sales fell to a seasonally adjusted annual level of 4.59 million last month, down 0.2 percent from February’s 4.60 million, according to data from the National Association of Realtors. Compared with March 2013, sales were down 7.5 percent. Sales are now at their slowest pace in almost two years, since July 2012.
At the same Read more [...]
Market conditions are combining to make homebuying less attractive, according to new data from the National Association of Realtors, as existing U.S.home sales made a significant drop in November.
“Home sales are hurt by higher mortgage interest rates, constrained inventory and continuing tight credit,” said NAR chief economist Lawrence Yun in a statement. “There is a pent-up demand for both rental and owner-occupied housing as household formation will inevitably burst out, but the bottleneck Read more [...]
Sales of existing U.S homes pushed upward in August, reaching a six-and-a-half year high, according to the National Association of Realtors, but the trend may slow in the fall if market conditions continue their track.
The NAR reported that total existing-home sales rose by 1.7 percent to a seasonally adjusted annual rate of 5.48 million in August, up from 5.39 million in July. Compared with the year before, sales were up 13.2 percent. August marks 26 straight months of year-over-year sales increases.
Prices Read more [...]