Little Change in Mortgage Rates

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.

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Mortgage Applications Decline as Rates Remain Stable

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.

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Loan Modifications Fall in 2012

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.

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