Buyers beg to get off rate roller coaster

Buyers beg to get off rate roller coaster

Posted on July 4, 2013 by grim

Posted in Economics, Housing Recovery, Mortgages | 17 Comments

From CNBC:

Housing Recovery Rides Mortgage Rate Roller Coaster

Mortgage rates are moving so fast and so dramatically that even reports from barely a week ago seem suddenly outdated.

The average rate on the 30-year fixed conforming loan moved to its highest level in two years last week, according to the Mortgage Bankers Association weekly survey. That had a direct effect on consumers shopping for mortgages. Applications to refinance fell 16 percent and applications to purchase a home dropped 3 percent week-to-week.

That comes one day after another report from Zillow, an online real estate company, showed mortgage rates moving off their highs, although not that far off.

"Last week mortgage rates retreated from a 23-month high as the Fed sought to reassure markets that the wind-down of the stimulus program would be gradual, and contingent upon strong improvement in economic fundamentals," said Erin Lantz, director of Zillow Mortgage Marketplace.

"This coming week, market participants will be focused on Friday's jobs report as an indicator of whether the economic recovery is strong enough to withstand an earlier-than-expected withdrawal of Fed stimulus."
…
Mortgage rates are up about a full percentage point from where they were at the beginning of May. That translates into about a 15 percent jump in monthly payments for the average home buyer, or 15 percent less purchasing power, depending on how you look at it. That can certainly be make or break for some buyers, especially first-time home buyers who may have been stretching in the first place.
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The very recent rate retreat gave back around 15 basis points, but buyers really can't play these small moves, which are largely dependent on investors buying or selling Treasury bonds.

"Although 10-year Treasury yields have come down slightly in recent days, we do not expect the bulk of the increase in mortgage rates to be reversed," said Paul Diggle of Capital Economics. "We've penciled in mortgage rates of 4.5 percent at year end, rising to 5 percent next year and 5.5 percent in 2015."

Delinquencies ease, fewer homeowners underwater

Delinquencies ease, fewer homeowners underwater

Posted on July 9, 2013 by grim

Posted in Housing Recovery, Mortgages, National Real Estate | 65 Comments

From HousingWire:

Less sickness in housing as delinquencies fall 43% from peak

The housing market continues to recover from post-meltdown levels with mortgage delinquencies down 43% from 2010 levels, Lender Processing Services Applied Analytics said Monday.

The number of borrowers who remain underwater – or who owe more on their homes than their current worth – also fell a sharp 47% from Q1 2012 to Q1 2013, LPS said in its Mortgage Monitor Report.

Underwater borrowers now account for 14.7% of all active loans studied by the mortgage analytics platform, LPS explained.

Homeowners carrying high loan-to-value ratios also are on the decline.

In 2011, 17 million homeowners had LTVs greater than 100%.

That figure now sits at 7.3 million mortgages, with borrowers benefitting from rising home prices.
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Overall, the loan delinquency rate is hovering at 6.08% down 2.11% from the prior month. The pre-sale foreclosure inventory rate sits at 3.05%, down 3.91%.

"As we've noted before, negative equity appears to still be one of the strongest drivers of new problem loans, and — primarily buoyed by home price increases nationwide — that situation also continues to improve," said Herb Belcher, senior vice president of LPS.
…
"We looked once again at the number of 'underwater' loans in the U.S., and found that the total share of mortgages with LTVs of greater than 100 percent had declined to just 7.3 million loans as of the end of the first quarter of 2013. This accounts for less than 15 percent of all currently active loans and represents a nearly 50 percent year-over-year decline," he explained.

Сокращение банками США процедур foreclosure. BWT Global Investors.

Сокращение банками США процедур foreclosure. BWT Global Investors.

19 июня 2013 года
Сокращение банками США процедур foreclosure

По состоянию на первый квартал 2013 года банками-лидерами по уровню снижения количества foreclosures, то есть объектов недвижимости, перешедших в собственность банков и продаваемых на рынке значительно ниже их рыночной стоимости (от 20% до 40%), стали:
Bank of America
U.S. Bank
Branch Banking and Trust Co.
Sun
Trust Bank
PNC Bank
В бухгалтерских учетах вышеуказанных банков числятся изъятые за неуплату ипотечного кредита активы недвижимости (foreclosures) на общую сумму 1,2 млрд. долларов США. В числе банков, имеющих самые высокие показатели по числу foreclosures, находятся:
Trustmark National Bank
First State Bank Central Texas
Towne Bank
RiverWood Bank
Synovus Bank
Список «проблемных» банков Американской Федеральной корпорации по страхованию банковских вкладов (FDIC) сократился с 651 до 612 за квартал. Данный Список включает финансовые учреждения, которые по оценкам FDIC, испытывают затруднения. Рекордное количество – 888 «проблемных» банков – было достигнуто в конце первого квартала 2011 года.
Начиная с периода Великой Депрессии 2007 года чистые потери банков в результате проведения процедур foreclosure составили более 18,1 млрд. долларов США. В прошлом году потери сократились до 2,28 млрд. долларов США. В первом квартале 2013 года данный показатель остановился на отметке 155 млн. долларов США. В случае продления данной тенденции чистые потери при продаже изъятой за долги недвижимости составят менее 700 млн. долларов США в годовом исчислении – заметное сокращение потерь банков. Пять крупнейших банков США – JPMorgan Chase Bank, Bank of America, Citibank, Wells Fargo Bank и U.S. Bank – уже вышли на прибыль при проведении процедур foreclosure. Чистая прибыль одного из ведущих банков США Bank of America в периоды рецессии и последующего восстановления экономики США выросла до 232 млн. долларов США. Однако в первом квартале 2013 года банк получил чистый убыток в 700 тыс. долларов США.

Риэлтор в США - юг штата Нью-Джерси

Риэлтор Эльвира Израева - Агент по операциям с недвижимостью от риэлторской компании: "Prudential Fox And Roach".
Офис: 3620 Atlantic Brigantine Blvd, Brigantine, NJ 08203 ( г. Бригантина, Нью-Джерси, США )
Телефон в компании: 1-609-264-8444,
Сотовый телефон: 1-732-322-9638,
Электронная почта: Elvira.Izrayev@PruFoxRoach.com , ElviraRealEstate@gmail.com

Longport Real Estate Agent Elvira Izrayev Real Estate Agent at Prudential FoxAnd Roach Office: 3620 Atlantic Brigantine Blvd, Brigantine, NJ 08203 View Larger Map Phone: 609-264-8444 Cell Phone: 732-322-9638 Email: Elvira.Izrayev@PruFoxRoach.com, ElviraRealEstate@gmail.com Sell and Buy Area: Ocean City, Long-port, Mar-gate, Harbor Stone, Brigantine, Wild-Woods. Off Shore Properties

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Margate Real Estate Agent Elvira Izrayev Real Estate Agent at Prudential FoxAnd Roach Office: 3620 Atlantic Brigantine Blvd, Brigantine, NJ 08203 View Larger Map Phone: 609-264-8444 Cell Phone: 732-322-9638 Email: Elvira.Izrayev@PruFoxRoach.com, ElviraRealEstate@gmail.com Sell and Buy Area: Margate, Long-port, Mar-gate, Harbor Stone, Brigantine, Wild-Woods. Off Shore Properties

Are you looking for rent ?

Elvira Izrayev's Vizify Bio | Overview

Elvira Izrayev's Vizify Bio | Overview