The decline in sales of existing homes picked up again last week and are down by over nine percent compared to just six weeks ago according to the National Home Sales Snapshot released by DataQuick while home values slipped a hefty $3,500.
Mortgage interest rates shifted downward this week following two weeks of modest increases according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending October 24th, 2013.
Mortgage applications dipped slightly last week as volume for both purchase applications and refinance applications held fairly steady from the previous week according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 18th, 2013.
The number of completed proprietary loan modifications fell in August but total modifications were up due to a hefty increase in completed government loan modifications according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors.
Sales of existing homes continued their downward slide though at a slower pace according to the National Home Sales Snapshot released by DataQuick while home values slipped another $1500.