The Federal Housing Administration will announce additional premium changes to its mortgage business and streamlined refinance programs in the coming days. FHA Acting Commissioner Carol Galante said in a speech at the Mortgage Bankers Association servicing conference in Orlando, Fla., Wednesday that the changes are on their way. As part of the payroll tax extension agreed to last fall, the FHA will raise premiums on its forward mortgages by 10 basis points and by 25 bps for jumbo loans. Galante […]

Existing home sales on all single-family homes, townhomes, condos and co-ops rose 4.3% during the month of January, making it the third sales increase in the past four months, the National Association of Realtors said Wednesday. In January, home sales hit a seasonally adjusted annual rate of 4.57 million units, compared to a pace of 4.38 million units in December and 4.54 million units in the year-ago period. As sales increased, inventory levels declined 0.4% from December with only 2.31 […]

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Mortgage applications fell 4.5% for the week ending Feb. 17 on lower refinance activity and fewer home purchases, an industry trade group said. The Mortgage Bankers Association said its market composite index — a measure of mortgage application loan volume — fell 4.5% from the previous week, while the refinance index fell 4.8%. In addition, the seasonally adjusted purchase index declined 2.9% from a week earlier. The refinance share of mortgage activity also declined to 80.1% of total applications, down […]

Home Depot ($47.30 0.37%) reported a 32% increase in fourth-quarter earnings, boosted by the warm weather, which drove demand for building projects. Fourth-quarter income rose to $774 million, or 50 cents a share, from $587 million, or 36 cents a share, and sales were up 5.9% to $16 billion. The company saw positive same-store sales during the final three months of 2011 in all of its top 40 markets, including those in hard-hit California and Florida, Chief Executive Frank Blake […]

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The housing market is expected to make a positive contribution to gross domestic product for the first time in seven years in 2012, albeit a very modest one, Fannie Maesaid Tuesday. The government-sponsored enterprise reported GDP growth of 2.8% in the fourth quarter of 2011 and predicted a growth rate of 2.3% in 2012, up from 1.6% last year. Fannie said any contributions from the housing sector will be modest. Housing also showed signs of improvement late last year with […]

The delinquency rate on U.S. mortgages monitored by Lender Processing Services ($22.54 0%) fell in January but foreclosure starts rose. The delinquency rate fell to 7.97% in January 2012, representing a 10.5% annual decline. The rate dropped 2.2% from December, according to LPS’ its first look at January mortgage performance statistics based on its loan-level data of nearly 40 million loans. The total U.S. foreclosure presale inventory rate hit 4.15%, up 1.1% from December and down slightly from a year […]

The Federal Reserve Bank of Chicagosaid its national activity index, which reflects inflationary pressures and economic growth, remained in positive territory in January for the second straight month, while housing issues continue to stifle overall growth. The survey gives a score of zero and above when the economy is expanding, while negative values show a decline in growth. Overall, the index fell to 0.22 in January from 0.54 in December, indicating the economy is growing but at a slower pace. […]

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