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FHFA Reports Home Prices Fall 3.9% in 4Q 2010
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FHFA Reports Home Prices Fall 3.9% in 4Q 2010
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
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Receive Multiple Offers. Save Money.
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FHFA Reports Home Prices Fall 3.9% in 4Q 2010
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February 25, 2011 (Brian Moore)
mortgage-house-falling-image
The Federal Housing Finance Agency (FHFA) disclosed Thursday in its seasonally adjusted purchase-only house price index that U.S. home prices fell 3.9% in the fourth quarter when compared to a year earlier citing lingering unemployment and an oversupply of homes on the sales market for the price decline.

The Home Price Index HPI, calculated using home sales price information from Fannie Mae and Freddie Mac acquired mortgages, was 0.8 percent lower on a seasonally adjusted basis in the fourth quarter than in the third quarter of 2010.

FHFA’s all-transactions house price index, which includes data from mortgages used for both home purchases and refinancings, decreased 0.8 percent in the latest quarter and is down 1.3 percent over the four-quarter period.

“Lingering unemployment and elevated inventories of for-sale homes contributed to the ongoing decline of house prices,” said FHFA Acting Director Edward J. DeMarco.

Significant findings of the report include:

– The seasonally adjusted purchase-only HPI declined in the fourth quarter in 35 states plus the District of Columbia. Prices rose in the latest quarter in 15 states.
– Of the nine Census Divisions, the East North Central Division and the Mountain Division experienced the most significant price movements in the latest quarter. While prices rose 0.1 percent in New England, prices fell 2.2 percent in the Mountain Division.
– As measured with purchase-only indexes for the 25 most populated metropolitan areas in the U.S., four-quarter price declines were greatest in the Phoenix-MesaGlendale, AZ area. That area saw price declines of 15.3 percent between the fourth quarters of 2009 and 2010.
– Prices held up best in the Denver-Aurora-Broomfield, CO area, where prices rose 3.7 percent over that period.

FHFA also released its monthly report on mortgage interest rates, reporting that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 4.71 percent based on loans closed in January. This is an increase of 0.13 percent from the previous month.

The average interest rate on conventional, 30-year fixed-rate mortgage loans of $417,000 or less increased 24 basis points to 4.85 percent in January. These rates are calculated from the FHFA’s Monthly Interest Rate Survey (MIRS) of purchase-money mortgages. These results reflect loans closed during the Jan. 25-31 period. Typically, the interest rate is determined 30 to 45 days before the loan is closed. Thus, the reported rates depict market conditions prevailing in mid- to late-December.

Tags: FHFA, Freddie Mac, Fannie Mae, U.S. home prices, home price index, home purchases, refinancings, mortgage interest rates, ARM contracts, 30 year fixed rate

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Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
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Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
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February 25, 2011 (Brian Moore)
mortgage-house-falling-image
The Federal Housing Finance Agency (FHFA) disclosed Thursday in its seasonally adjusted purchase-only house price index that U.S. home prices fell 3.9% in the fourth quarter when compared to a year earlier citing lingering unemployment and an oversupply of homes on the sales market for the price decline.

The Home Price Index HPI, calculated using home sales price information from Fannie Mae and Freddie Mac acquired mortgages, was 0.8 percent lower on a seasonally adjusted basis in the fourth quarter than in the third quarter of 2010.

FHFA’s all-transactions house price index, which includes data from mortgages used for both home purchases and refinancings, decreased 0.8 percent in the latest quarter and is down 1.3 percent over the four-quarter period.

“Lingering unemployment and elevated inventories of for-sale homes contributed to the ongoing decline of house prices,” said FHFA Acting Director Edward J. DeMarco.

Significant findings of the report include:

– The seasonally adjusted purchase-only HPI declined in the fourth quarter in 35 states plus the District of Columbia. Prices rose in the latest quarter in 15 states.
– Of the nine Census Divisions, the East North Central Division and the Mountain Division experienced the most significant price movements in the latest quarter. While prices rose 0.1 percent in New England, prices fell 2.2 percent in the Mountain Division.
– As measured with purchase-only indexes for the 25 most populated metropolitan areas in the U.S., four-quarter price declines were greatest in the Phoenix-MesaGlendale, AZ area. That area saw price declines of 15.3 percent between the fourth quarters of 2009 and 2010.
– Prices held up best in the Denver-Aurora-Broomfield, CO area, where prices rose 3.7 percent over that period.

FHFA also released its monthly report on mortgage interest rates, reporting that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 4.71 percent based on loans closed in January. This is an increase of 0.13 percent from the previous month.

The average interest rate on conventional, 30-year fixed-rate mortgage loans of $417,000 or less increased 24 basis points to 4.85 percent in January. These rates are calculated from the FHFA’s Monthly Interest Rate Survey (MIRS) of purchase-money mortgages. These results reflect loans closed during the Jan. 25-31 period. Typically, the interest rate is determined 30 to 45 days before the loan is closed. Thus, the reported rates depict market conditions prevailing in mid- to late-December.

Tags: FHFA, Freddie Mac, Fannie Mae, U.S. home prices, home price index, home purchases, refinancings, mortgage interest rates, ARM contracts, 30 year fixed rate

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

February 25, 2011 (Brian Moore)
mortgage-house-falling-image
The Federal Housing Finance Agency (FHFA) disclosed Thursday in its seasonally adjusted purchase-only house price index that U.S. home prices fell 3.9% in the fourth quarter when compared to a year earlier citing lingering unemployment and an oversupply of homes on the sales market for the price decline.

The Home Price Index HPI, calculated using home sales price information from Fannie Mae and Freddie Mac acquired mortgages, was 0.8 percent lower on a seasonally adjusted basis in the fourth quarter than in the third quarter of 2010.

FHFA’s all-transactions house price index, which includes data from mortgages used for both home purchases and refinancings, decreased 0.8 percent in the latest quarter and is down 1.3 percent over the four-quarter period.

“Lingering unemployment and elevated inventories of for-sale homes contributed to the ongoing decline of house prices,” said FHFA Acting Director Edward J. DeMarco.

Significant findings of the report include:

– The seasonally adjusted purchase-only HPI declined in the fourth quarter in 35 states plus the District of Columbia. Prices rose in the latest quarter in 15 states.
– Of the nine Census Divisions, the East North Central Division and the Mountain Division experienced the most significant price movements in the latest quarter. While prices rose 0.1 percent in New England, prices fell 2.2 percent in the Mountain Division.
– As measured with purchase-only indexes for the 25 most populated metropolitan areas in the U.S., four-quarter price declines were greatest in the Phoenix-MesaGlendale, AZ area. That area saw price declines of 15.3 percent between the fourth quarters of 2009 and 2010.
– Prices held up best in the Denver-Aurora-Broomfield, CO area, where prices rose 3.7 percent over that period.

FHFA also released its monthly report on mortgage interest rates, reporting that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some ARM contracts, was 4.71 percent based on loans closed in January. This is an increase of 0.13 percent from the previous month.

The average interest rate on conventional, 30-year fixed-rate mortgage loans of $417,000 or less increased 24 basis points to 4.85 percent in January. These rates are calculated from the FHFA’s Monthly Interest Rate Survey (MIRS) of purchase-money mortgages. These results reflect loans closed during the Jan. 25-31 period. Typically, the interest rate is determined 30 to 45 days before the loan is closed. Thus, the reported rates depict market conditions prevailing in mid- to late-December.

Tags: FHFA, Freddie Mac, Fannie Mae, U.S. home prices, home price index, home purchases, refinancings, mortgage interest rates, ARM contracts, 30 year fixed rate

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
LOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.