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According to Lender Processing Services, the U.S. loan delinquency rate rose slightly in November. Overall the delinquency rate this year has dropped compared to the last few years, down approximately 10% year-to-date. Foreclosure inventory rates fell 2.5% last month, and averaged 29% for the year while the total number of foreclosures averaged 1.256 million. The…

Freddie Mac’s Primary Mortgage Market Survey shows that average mortgage rates have increased from the previous week due to housing permits and starts. The recently released data states that 30-year fixed-rate mortgage increased .05% from last week, averaging 4.47%. The 15-year fixed-rate mortgage jumped 0.6%, averaging 3.51% last week. The housing market continues gradually gaining…

According to the National Association of Realtors, home sales fell in November with previously owned home sales dropping to 4.3%, averaging an annual rate of 4.90 million units. Additionally, filings for unemployment and unemployment benefits increased against expectations. The Labor Department stated that state unemployment benefits jumped 10,000 and averaged a seasonally adjusted rate of…

According to new data released by the Commerce Department, last month’s housing starts increased 22.7% from the previous month’s revised estimate, and almost 30% from November 2012. Single-family housing starts averaged a rate of 727,000 last month, a 20.8% increase from October while privately-owned homes hit 1.091 million. Additionally, the construction start rates for buildings…

According to the National Association of Home Builders/Wells Fargo Housing Market Index, construction demand has increased the housing market confidence level to 58 this month. The market measures conditions, sales expectations, current sales, and prospective buyer traffic. Buyer confidence continues to grow even as interest rates increase. Rick Judson, NAHB Chairman said, “This is definitely…

According to market experts, rental prices are expected to increase next year for much of the nation due to rising demand and tight supply. Experts at Axiometrics, an apartment market researching company, expect a 3.1% growth in rental costs, while Reis, another apartment marketing company has forecasted a 3.3% increase. Research has shown that 50%…

New research suggests that home ownership may be decreasing and rentals rising as the number of seniors increases. Rentals are projected to grow by 40% over the next 10 years as baby boomers downsize and those age 75 and above need more accessible homes. In 2012, 35% of Americans were renting their homes with 43…

According to Freddie Mac, fixed mortgage rates fell this week. The 30-year fixed rate mortgage averaged approximately 4.42%, down .02% from last week. The 15-year fixed rate mortgage also dropped, falling from 3.47% last week to 3.34% this week. Additionally, the total mortgage debt for single-family housing jumped for the first time in nearly six…

According to the Mortgage Bankers Association, mortgage applications have increased from last week, jumping approximately 1%. Refinancing also increased, with the refinance index rising 2% from last week, averaging 65%. The 30-year, fixed-rate mortgage with a conforming loan limit grew .10%, averaging 4.61%, while the 30-year, fixed-rate mortgage with a jumbo loan balance also increased…

A new research survey from RealtyTrac states that 71% of single-family homes in the United States were constructed before the year 1990. 5 years ago when the housing market struggle began, home construction came to a halt, cutting the percentage of new home construction by more than 40%. Home builders began to focus on multi-family…