Signs of a weakening economy drove fixed mortgage interest rates lower this week according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending January 16th, 2014.
Mortgage application volume increased last week with both purchase and refinance applications posting double-digit gains according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 10th, 2014.
Spending on both single-family and multi-family home construction increased in November according to the U.S. Census Bureau.
Mortgage giant Freddie Mac posted a slight increase in completed loan modifications from October to November but that was more than enough to surpass last years totals according to the agency’s recently released Monthly Volume Summary.
Sales of existing homes dipped below the previous year’s sales levels for the first time in nearly two years according to the National Home Sales Snapshot released by DataQuick while home values also declined.