Sales of existing homes fell by over eight percent last week and are down nearly thirteen percent in the last month according to the National Home Sales Snapshot released by DataQuick.
Mortgage interest rates were down across the board this week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending February 6th, 2014.
Applications for home mortgages held steady for a second consecutive week according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 31st, 2014.
Despite a sizeable drop from November to December, mortgage giant Freddie Mac still completed 19.6 percent more loan modifications in 2013 than in 2012 according to the agency’s recently released Monthly Volume Summary.
The average interest rates for conventional 30-year fixed rate mortgages moved from 4.48 percent in November to 4.54 percent in December according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey, an increase of six basis points.