Author Archive

Mortgage Purchase Applications

Seasonally adjusted applications to purchase homes surged 23.6% for the week ending January 9th relative to a week earlier, a significant increase following the prior week’s 4.5% improvement.  The purchase applications index is 1.6% higher than the same time...

FHA Lowers Pricing to Reflect Less Risk

The FHA announced important changes to the pricing of its mortgage insurance today. This change will help to shore up the long-term solvency of its mortgage insurance fund, improve affordability and sustainability for most borrowers, and price in a...

Home Prices Rebound, but Still Down from Peak

Back in the 3rd quarter of 2005, the national median home price peaked at $227,633. Nine years later, the national median was $216,367 in the 3rd quarter of 2014, a decline of 4.9%. While the national median sale price...

Regional Income Growth Gains Importance

Mortgage rates eased in the second half of 2014 based on unrest in Eastern Europe and fear of an economic slowdown in Europe. This decline in rates has helped to improve affordability, but rates are expected to rise over...

Lenders Tighten Modestly in the 3rd Quarter

In the 3rd quarter as in earlier surveys, respondents to NAR’s Survey of Mortgage Originators were asked about impacts of the Qualified Mortgage rule on the mortgage lending market.  However, this quarter the survey expanded to measure lender expectations...