The housing market has made significant strides toward recovery since the recession, but experts say there is still room for improvement. Home prices have slightly increased according to the S&P Case-Shiller home price index. Sales of existing homes fell from 408,300 last year to 405,800. New home sales have increased from the end of 2012…

Mortgage applications in the United States have continued to increase. Last week, The Mortgage Bankers Association stated that their seasonally adjusted index of mortgage application activity jumped 0.4%, averaging 405.2 in the last week of January.  Interest rates have also fallen with the 30-year mortgage averaging approximately 4.47%. Additionally, the MBA’s seasonally adjusted index of…

Reverse mortgage endorsements have picked up speed this year according to Reverse Market Insight. Last month, reverse mortgage volume increased 19.8%, averaging 5,061 loans, the highest average seen since August 2013.  According to data, reverse mortgage activity was significantly down in November and December, and many experts think the boost in endorsements could be due…

Mortgage rates fell this week from last week as new housing data was revealed. The 30-year fixed-rate mortgage averaged approximately 4.23%, down 0.10% from the previous week. The 15-year fixed-rate mortgage averaged 3.33%, down from 3.4% that was reported last week. The vice president and chief economist at Freddie Mac, Frank Nothaft said, “mortgage rates…

Mortgages costs fell this week, and according to data from Fannie Mae, Freddie Mac, and Ginne Mae, it could be due to a recent increase in agency mortgage bonds last week. Experts say that bond values are ascending due to the falling long-term Treasury rates, helping the cost of mortgages to decline. Sterne Agee analyst,…

House flipping jumped last year, averaging a 16% increase from 2012, and a significant 114% jump from 2011 according to RealtyTrac’s year-end 2013 Home Flipping Report. Last year 156,862 homes were purchased, flipped and sold within a six month time frame. Data shows that the average house flipping gross profit in 2013 was approximately $58,081,…

According to new data released by the National Reverse Mortgage Lenders Association and Riskspan, home equity among seniors has improved over the last few years, and hit a five-year high in the third quarter of last year. Total home equity among seniors jumped 3.4%, averaging $3.46 trillion and increasing 165.7 points on the NRMLA/Riskspan Reverse…

Foreclosure sales and short sales made up approximately 16.2% of residential sales in the United States last year, according to RealtyTrac’s 2013 U.S. Residential and Foreclosure Sales Report. That percentage is up 14.5% from 2012, and up 15.2% from what was reported in 2011. Foreclosure activity has been decreasing, falling to a seven-year low last…

According to the 30th annual ARM Survey released by Freddie Mac, ARM initial-period rates have jumped from the previous year but are still considered historically low. Adjustable-rate mortgages have grown more popular as rates on 30-year fixed-rate mortgages have become higher. The Vice President of Freddie Mac, Frank Nothaft said, “homebuyers have preferred fixed-rate mortgages…

According to newly released data, U.S. home prices increased from November to December by 0.3% and 8.5% from one year prior. The average November home price was up approximately $18,000 from November 2012, averaging $232,000. The state of Florida led the U.S. in monthly home price increases while Las Vegas home prices jumped almost 24%…