Mortgage Applications in U.S. Rise 6% as Rates Drop to New Lows

“According to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 7, 2012, mortgage applications increased 6.2 percent from one week earlier. The Market Composite Index, a measure of mortgage loan application volume, increased 6.2 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index …

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Foreclosure backlogs persist

The improving job market and economy is helping push mortgage delinquencies and foreclosure starts down, but the percentage of loans in the foreclosure process remains stubbornly high, especially in states most affected by robo-signing issues, according to a quarterly survey of lenders by the Mortgage Bankers Association. Since peaking at 10.1 percent in March 2010, …

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Moderate Growth Projected for 2012

Overall, growth is expected to continue for the year, but at a modest rate, according to the Fannie Mae February 2012 Economic Outlook report. Economic growth is projected to be at 2.3 percent for 2012, an increase compared to 1.6 percent last year, according to the report. For the first time in seven years, the …

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Mortgage delinquency rates fall

The delinquency rate for mortgage loans on single-family residential properties dropped to 8.22 percent at the end of 2010, the Mortgage Bankers Association (MBA) reported Thursday. That’s down about 10 percent from the rate reported by the trade group three months earlier and is its lowest mortgage delinquency reading since the fourth quarter of 2008. …

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