18 Jun 2013
By Mark Feder
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RealtyTrac Foreclosure Report Shows 28% Decrease From May 2012

Housing Analysis
Foreclosure actions increased by 2.0 percent in May from April's 75 month low point for foreclosure activity according to RealtyTrac's U.S. Foreclosure Market Report released June 11. However, the good news is that May 2013 foreclosure filings were still 28 percent below May 2012 filings. RealtyTrac reports that approximately one in 885 homes were in some stage of foreclosure in May. This does not mean that 1 in 885 homes was lost to foreclosure, but it does indicate that documents related to some phase of foreclosure (Notice of Default, Notice of Trustee Sale, and Bank Reposession) were filed. Actual lender…
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17 Jun 2013
By Mark Feder
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What’s Ahead For Mortgage Rates This Week – June 17, 2013

Housing Analysis
Last week's news was relatively quiet with no data significant to the mortgage lending released until Wednesday, when the federal government announced a $138 billion budget deficit for May. According to the U.S. Treasury this figure is 11 percent higher than for May of 2012, but the federal budget is expected to come in with less than a -$1 trillion deficit for the 2013 fiscal year, which runs from October to September. The Treasury estimates that the 2013 budget deficit will come in at approximately -$642 billion, well below fiscal 2012's deficit of -$1.1 trillion. The federal budget has been…
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10 Jun 2013
By Mark Feder
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What’s Ahead For Mortgage Rates This Week — June 10, 2013

Housing Analysis
Last week's economic reports provided a mixed bag of results. On Monday, the Department of Commerce reported that construction spending increased by 0.40 percent in April and fell shy of the expected reading of 1.0 percent, but exceeded the March reading of -0.80 percent. Home Prices Increase Fastest Since 2006 On Tuesday, CoreLogic released its Home Prices reported that the national average home price had increased by 12.10 percent year-over-year in April. The comparable year-over-year reading for April 2012 was 11.00 percent. This represents the fastest pace of home price increases since 2006. The national average home price expanded by…
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03 Jun 2013
By Mark Feder
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What’s Ahead For Mortgage Rates This Week — June 3, 2013

Housing Analysis
Last week’s financial news was relatively limited due to the Memorial Day holiday and no economic reports being released on Wednesday. The biggest news in terms of housing and mortgages was the S&P/Case-Shiller Housing Market Indices (HMI) released on Tuesday. The March HMI data for national housing markets reflected a sharp increase in year-over-year home prices from 9.30 percent in February to 10.90 percent in March. Twelve cities included in the Case-Shiller 20-city index reported double-digit year-over-year percentage gains for March home prices. While this data strongly supports recovering home prices, analysts cite the need for more jobs, which would…
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