Many investors hoped a modest decline and a leveling off in mortgage delinquencies the end of last year signaled a top for the index, but those hopes were dashed when delinquencies for all types of mortgage hit a new high during the first quarter. Fears were further exacerbated yesterday when Lender Processing Services released their […]
Archive:
MBA
Not since June 2008 has the housing sector been completely devoid of some form of tax incentive to help bolster sales, until now that is and it shows. MBA purchase applications have taken a precipitous drop over the past two weeks falling to levels not seen since the end of 1997. The government’s approach of […]
The market will be providing a cornucopia of data this week centered on Tuesday and Wednesday, which you can mull over as you begin brining your turkeys—as an aside here’s the recipe I will be following this year. Also, I wrote an interesting column on Friday for Real Money titled ‘Talking Turkey on Agricultural Trends’ […]
The MBA’s mortgage application index rose 3.2% on a seasonally adjusted basis the week prior to November 6. The week’s positive performance was derived entirely from the refinance index, which rose 11.3%, while the purchase index dropped -11.7%–reaching its lowest level since December 2000. A wave of buyers, filling out multiple mortgage applications, that were […]
According to the Mortgage Bankers Association this morning, US mortgage delinquencies rose to a record rate of 9.24% of all loans outstanding. At the same time, the rate of foreclosures fell slightly to 1.36% from 1.37%. What is interesting is that the rate of foreclosures actually fell for sub-prime ARMs, but rose for more traditional […]