A look at stories across HousingWire’s weekend desk, with more coverage to come on bigger issues: A swath of monthly housing data hits the economic scene this week, as mortgage industry players look for more signals of the direction of the market. It starts Monday with the National Association of Home Builders housing market index, which reached a four-year high in February at a reading of 29. Analysts polled by Econoday expect the index to tick up to 30 for […]

About 22 percent of home owners nationwide are considered “underwater,” owing more on their mortgage than their home is currently worth, according to recent CoreLogic data. Some states are seeing a higher number of underwater mortgages than others too. Many of the states with the highest number of underwater mortgages also had some of the biggest housing booms a few years ago, before prices plunged. 24/7 Wall St., in analyzing CoreLogic’s fourth quarter 2011 data, recently profiled the states with […]

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The United States account deficit widened in the fourth quarter, showing another area of economic weakness for the nation. Still, signs of a housing turnaround are emerging, analysts with Capital Economics say. As economists continue to track slow sales and a lagging real estate market, analysts also are studying international trade since fewer exports can suggest slower economic growth for the nation. The United States account deficit, which reflects the nation’s strength in global trade, increased to $124.1 billion in […]

Federal Housing Finance Agency analysis used to prevent principal reduction on Fannie Mae and Freddie Mac loans was seriously flawed, according to one leading analyst. “We have reviewed the study and have a number of very substantial objections,” said Amherst Securities Senior Managing Director Laurie Goodman before a Senate subcommittee Thursday, who gathered additional data via telephone. The FHFA used the report to determine a wide-scale principal reduction program would cost more than forbearance, while increasing the risk of strategic […]

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The government vows to closely monitor that the nation’s five largest banks fulfill the aid to home owners outlined in a $25 billion mortgage settlement over foreclosure allegations. More details emerged in court filings on Monday of the landmark settlement among the nation’s five largest banks and state and federal government officials. The settlement, first announced last month, stems from allegations over banks’ foreclosure practices, although as part of the settlement the banks do not have to admit to any […]

Mortgage rates rose across the board this past week on positive jobs data and increasing bond yields, Freddie Mac said Thursday. The 30-year, fixed-rate mortgage hit 3.92% for the week ending March 15, up from 3.88% the previous week and down from 4.76% a year ago, the government-sponsored enterprise said. In addition, the 15-year, FRM hit 3.16%, up from 3.13% a week earlier, and down from 3.97% last year. The 1-year Treasury-indexed adjustable-rate mortgage also grew from 2.73% to 2.79% […]

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For the first time in 18 months, home prices increased year-over-year in February, a turnaround that RE/MAX said signifies a “very active selling season.” A RE/MAX housing survey released Wednesday shows national home prices in February rose 1.1% from a year earlier and 1.4% from January to $171,881. Of the 53 metro areas included in the survey, 24 experienced price increases from February 2011, including: Miami (20.5%), Orlando, Fla. (15.8%), Phoenix (12.5%), Tampa, Fla. (11.1%), St. Louis (9.8%) and Detroit […]