Mortgage interest rates moved slightly higher last week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending October 10th, 2013.
Mortgage applications for home purchases were below year ago levels for the second consecutive week but falling interest rates gave a boost to refinance applications again last week leading to an overall increase in mortgage applications according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 4th, 2013.
Total loan modifications for the month of July were up slightly from June with an increase in proprietary modifications outweighing a decline in government loan modifications according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors.
A boost in completed loan modifications put Fannie Mae back on track to match last year’s production according to the agency’s Monthly Summary report for August 2013.
Home values suffered their largest decline in six months while existing home sales fell for the third consecutive week according to the National Home Sales Snapshot released by DataQuick.