RSS Feed by Calculated Risk on 10/13/2011 11:28:00 AM
Thursday, October 13, 2011
Misc: Mortgage Rates increase, Foreclosure Activity declines in September
Mortgage rates increased, but are still near 60 year lows.
• From Freddie Mac: Fixed Mortgage Rates Up Sharply Following Jobs Report
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates up sharply from the previous week's record-setting lows following a better than expected employment report. Despite the sharp increase, mortgage rates remain near their 60-year lows.• From RealtyTrac: Foreclosure Activity on Slow Burn
30-year fixed-rate mortgage (FRM) averaged 4.12 percent with an average 0.8 point for the week ending October 13, 2011, up from last week when it averaged 3.94 percent.
15-year FRM this week averaged 3.37 percent with an average 0.8 point, up from last week when it averaged 3.26 percent. A year ago at this time, the 15-year FRM averaged 3.62 percent.
RealtyTrac® (www.realtytrac.com) ... today released its U.S. Foreclosure Market Report™ for the third quarter of 2011, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 610,337 properties in the third quarter, an increase of less than 1 percent from the previous quarter and a decrease of 34 percent from the third quarter of 2010. ...
Foreclosure filings were reported on 214,855 U.S. properties in September, a 6 percent decrease from August and a 38 percent decrease from September 2010. September marked the 12th straight month where foreclosure activity decreased on a year-over-year basis.
“U.S. foreclosure activity has been mired down since October of last year, when the robo-signing controversy sparked a flurry of investigations into lender foreclosure procedures and paperwork,” said James Saccacio, chief executive officer of RealtyTrac. “While foreclosure activity in September and the third quarter continued to register well below levels from a year ago, there is evidence that this temporary downward trend is about to change direction, with foreclosure activity slowly beginning to ramp back up.”
