Mortgage interest rates remained at about the same levels as last week with the exception of the 1-year adjustable rate mortgage which saw a jump of eight basis points during the week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending February 14, 2013.
Mortgage applications fell for only the second time this year with both purchase and refinance applications declining from the previous week according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 8th, 2013.
The number of proprietary loan modifications completed by the nation’s mortgage servicers fell for the second consecutive year according to HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors.
Monthly home prices in the United States continued to improve from October to November according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index (HPI).
Existing homes sales took a turn for the worse last week, falling by over five percent from the previous week and are down almost ten percent from a month ago according to the weekly National Home Sales Snapshot released by DataQuick while home values fell by 1.5 percent from the previous week.