Signed contracts for home purchases fell for the seventh consecutive month in December according to the National Association of Realtors® (NAR) Pending Home Sales Index (PHSI).
Sales of existing homes has declined by over sixteen percent in the last month according to the National Home Sales Snapshot released by DataQuick while home values have fallen by $8,000 in the last two weeks.
Mortgage interest rates for 30-year fixed loans increased for the first time in seven weeks according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending February 13th, 2014.
Mortgage application volume dipped slightly last week as refinance applications held steady from the previous week while purchase applications posted a decline according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 7th, 2014.
The total number of loan modifications completed by Fannie Mae increased from November to December but fell slightly short of 2012’s totals according to the agency’s Monthly Summary report for December 2013.