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Foreclosure filings rose 3.5% in Colorado’s major metro areas last month, growing from 1,986 filings in February of 2010 to 2,056 in the most recent period, the Colorado Division of Housing said Wednesday. At the same time, foreclosure auction sales reached a five-year low, with total sales down 6.7% from 2011, making it the lowest February sales total since 2008. The housing division cautioned against trying to extrapolate a larger connection between the two events. Ryan McMaken with the Colorado Division of Housing says foreclosure filings show what’s happening in […]

The number of mortgage applications filed in the U.S. fell 2.4% for the week ended March 9 as refinancing activity declined, an industry trade group said. The Mortgage Bankers Association released its Market Composite Index – a measure of monthly loan application volume on Wednesday. The report shows the refinancing index falling 4.1% on a seasonally adjusted basis, making it the fourth consecutive weekly decline. Home purchases, on the other hand, soared as the MBA’s purchase index rose 4.4%. Still, the percentage of mortgage activity tied to home refinancings fell […]

Several of the largest mortgage servicers will be in Las Vegas Friday and Saturday to work with struggling Nevada homeowners, under a program sponsored by Hope Now and Gov. Brian Sandoval. The free, two-day event will allow homeowners to explore possible alternatives to foreclosure. Since 2008, Las Vegas hosted four similar events, which have assisted almost 5,500 area homeowners, Hope Now said. The last event was in January 2011. Mortgage servicers participating include American Home Mortgage, Bank of America, Chase, Citigroup, GMAC, HSBC, Wells Fargo and several other major banks. […]

Purchasing power among Latinos in the U.S. rose to $1.1 trillion in 2011, a sign of continued growth in influence on the economy and housing market, according to a real estate trade group. The National Association of Hispanic Real Estate Professionals said many factors, including relative young age, population growth and increased incomes likely signal a heightened share of Hispanic homebuyers. Latinos saw purchasing power more than double over the past decade, compared to a 52% increase for the country as a whole. The measure is expected to increase another […]

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The homebuilder spring selling season just started, but reports from the field confirm that sales activity in communities are materializing in a way not seen in years, Barclays Capital said. “We believe the spring selling season has arrived strongly enough to kick-start a positive feedback loop in housing for the first time since 2005,” BarCap analysts said after discussions with executives of some of the largest companies in the industry. As a result of the newly inspired optimism, Barclays upgraded four homebuilder stocks, including PulteGroup ($9.61 0%) and debt-ridden KB […]

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Changes to the Federal Housing Administration streamlined refinance process is expected to benefit homeowners with a mortgage originated before June 2009. However, an analyst at the Royal Bank of Scotland warns that the Department of Housing and Urban Development will likely increase its indemnification demands for lenders that, it feels, wrongfully wrote the new mortgage. “We expect HUD to be more active in seeking claims for fraud,” said mortgage securities analyst Jeana Curro in an email to clients, “while HUD has always had indemnification rules in place, it has made […]

Houses priced below $200,000 are receiving more attention in some markets while receiving less in others as borrowers react differently to record-high affordabilty. Home sales in Seattle rose to their highest level for a January in four years, driven by a more than 30% increase from a year earlier in sales of properties less than $200,000. Home prices trended lower, however, with the median sale price dipping to its lowest point in eight years, according to San Diego-based DataQuick. More than 2,500 new and resale houses and condos closed during […]

Home prices in December fell to a level not seen since September 2002, as depreciations in larger metros overshadowed gains in smaller markets. December was the sixth consecutive month in which prices fell, according to real estate analytics firm Lender Processing Services ($24.23). Of the 411 metropolitan statistical areas that LPS tracks, 402 showed average home price depreciation from the previous month. From June 2007 through December 2008 — the period of the quickest fall since prices peaked in June 2006 — national home prices declined at an average annual […]