Mortgage interest rates generally remained near last week’s levels according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS) for the week ending January 9th, 2014.
Mortgage application volume started the New Year with a slight increase according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 3rd, 2014.
Fannie Mae posted a five percent decline in completed loan modifications in November according to the agency’s Monthly Summary report for November 2013 while delinquency rates continued to decline.
The average interest rates for conventional 30-year fixed rate mortgages moved from 4.58 percent in October to 4.48 percent in November according to the Federal Housing Finance Agency’s (FHFA) Monthly Interest Rate Survey, a decrease of ten basis points.
Sales of existing homes remained at the previous week’s levels according to the National Home Sales Snapshot released by DataQuick while home values posted another slight increase.