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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Mortgage giants predicting growth in 2013 home sales

Economists at the Mortgage Bankers Association and mortgage giants Fannie Mae and Freddie Mac are predicting that growth in housing sales and price stability will boost demand for purchase mortgages next year. The Mortgage Bankers Association expects purchase loan originations to grow by 16 percent next year, to $585 billion from an estimated $503 billion …

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Proposed mortgage rules would preserve points and fees

Proposed mortgage rules would preserve points and fees Mortgage lenders would have to give consumers the option of a no-point, no-fee loan under proposed rules put forward by the Consumer Financial Protection Bureau with the intention of helping consumers understand mortgage costs and comparison shop. The proposed rules would require that lenders provide an interest-rate …

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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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