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Commercial and Multifamily Mortgage Performance Remains Better Than Other Loans

Dennis Norman

The Mortgage Bankers Association (MBA) released its report on the performance of commercial and multifamily mortgages in the fourth quarter of 2009. Their last report from a year ago showed that commercial and multifamily mortgages were among the best performing loans held by banks and thrifts. Now, a year later, the [...]

Mortgage Interest Rates Drop Back Below 5 Percent

Home Loan Applications Jump 11.7 Percent Last Week after decreasing two prior weeks

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending February 26, 2010. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) increased 11.7 percent [...]

Mortgage Rates Inch Up – Homebuyer Applications Decreased Again Last Week

Home Loan Applications Drop 7.3 Percent Last Week after decreasing 4.0 percent the week before.

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending February 19, 2010. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) decreased 7.3 percent [...]

Mortgage Loan Rates Remain Low – Fewer Home Buyers Taking Advantage

Home Loan Applications Drop 4.0 Percent Last Week.

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending February 12, 2010. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) decreased 4.0 percent from the week before and the [...]

30 Year Mortgage Interest Rates Drop Below 5 Percent

Home Loan Applications Drop 7.0 Percent Last Week.

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending February 5, 2010. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) decreased 7.0 percent from the week before and the four-week [...]

Mortgage Interest Rates Hold Steady-Loan Applications Jump Over 20 Percent

Home Loan Applications Jump 21.0 Percent Last Week.

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending January 29, 2010. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) increased 21.0 percent from the week before and [...]

Mortgage Loan Interest rates remain fairly steady

Fewer Home-buyers applying for loans in past week

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending January 22, 2010. The report showed the

Mortgage interest rates drop slightly-Mortgage applications increase

Home-buyers mortgage activity increases from week before…down from a month ago though

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending January 8, 2010. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) increased 14.3 percent from the [...]

Mortgage interest rates creep up slightly

Home-buyers mortgage activity dropping…refinances make up 3/4 of all new mortgages.

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending December 11, 2009. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) decreased 3.6 percent from the [...]

Commercial and multi-family properties mortgage delinquencies on the rise

Dennis Norman

For the first year or so of the real estate slump, it appeared to just be concentrated in the residential market, specifically homes and condos. However, over the past few months the attention has shifted more and more to the commerical and multi-family markets as well as the economy remains weak.

The Mortgage Bankers [...]

Mortgage delinquencies set new record in third quarter

Unemployment Remains Main Cause of Delinquencies

The second quarter of this year saw mortgage delinquencies reported by the Mortgage Bankers Association hit the highest level since they began keep track of the data almost 40 years ago back in 1972.  Unfortunately that record didn’t stand long and was broken by the mortgage delinquency rate for third [...]

MBA’s Purchase Index for mortgages drops again; Now at lowest level in 12 years

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending November 13, 2009. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) decreased 4.7 percent from the week before making six-consecutive weeks of decreases and bringing the [...]

MBA’s Purchase Index for mortgages drops to lowest level in almost 9 years

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending November 6, 2009. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) decreased 11.7 percent from the week before, bringing it to it’s lowest level since December 2000 in [...]

Interest rates drop back below 5 percent; Home loan applications decrease

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending October30, 2009. The report showed an decrease of 1.8 percent in mortgage loan applications for a home purchase from the week before in spite of the fact interest rates slipped back below 5 percent again on a 30-year fixed-rate [...]

Home buyer tax credit update

Dennis Norman

I have been talking a lot lately about the first-time home buyer tax credit of $8,000 that has stimulated some home buying but is set to expire on November 30th.  I have also shared the efforts by organizations such as the National Association of REALTORS,  The Mortgage Bankers Associaiton, The National Association of Home Builders and Fix [...]

Mortgage Interest Rates drop slightly; Applications for home purchase drops 5.2 percent

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending October 23, 2009. The report showed an decrease of 5.2 percent in mortgage loan applications for a home purchase from the week as interest rates moved ever so slightly downward.

For the past four weeks mortgage applications for home purchases [...]

MBA Forecast for 2010; New home sales up, Home price declines end

Dennis Norman

The Mortgage Bankers Association (MBA) released a report this week with a their forecast of where the economy, housing market and interest rates are headed for the balance of this year as well as next year.

While I think in these volatile times I think it is extremely difficult to make predictions with regard to our [...]

Mortgage rates increase; loan applications decrease

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending October 9, 2009. The report showed an increase of 1.8 percent in mortgage loan applications from the week as interest rates inched back above 5 percent for the first time in four weeks. 

Refi’s continue to dominate the mortgage application activity with 67.4 [...]

Mortgage interest rates on 30 year loan stay below 5 percent for third consecutive week

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending October 2, 2009. The report showed an increase of 16.4 percent in mortgage loan applications from the week before fueled by interest rates remaing below 5 percent.

Unfortunately interest rates seem to be doing more for existing homeowners and [...]

Interest rates drop below 5 percent for 30 year fixed rate loan; applications increase

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending September 18, 2009. The report showed an increase of 12.8 percent in mortgage loan applications from the week before fueled by interest rates dropping below 5 percent for the first time since mid-May.

The bulk of the activity (63.8 percent [...]

Mortgage rates drop; Twenty Two Percent Increase in Refinancing

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending September 4, 2009. The report showed an increase of 17.0 percent in borrowers applying for home mortgages to buy a home from the week before.  This marks the largest gain in the index since early April, putting the index at the [...]

Mortgage interest rates and applications increase

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending August 21, 2009. The report showed an increase in borrowers applying for home mortgages of about 1 percent from the week before for borrowers buying homes and an increase of almost 13 percent from the week before for [...]

Mortgage delinquencies reach record levels; Is this the next bubble to burst?

Dennis Norman

All the news lately about the housing market, home sales in particular, has been encouraging and showing signs of stabilization in the real estate market and demonstrating that the real estate market may have seen the worst.  Just when you think you may be through the storm though you see another dark cloud lurking [...]

Foreclosures continue at record rate; a new one every 13 seconds

Dennis Norman

By: Dennis Norman

According to a report issued by the Center for Responsible lending, the number of homes that have had foreclosure proceedings begun on this year broke the 1 million mark this past weekend.  The Center for Responsible lending  website has a rather depressing “foreclosure meter” that shows, in real time (sort of), [...]

Home Mortgages: The market, sub-prime, jumbos, the internet and more. First post in a series

Dennis Norman

By: Dennis Norman

It seems home mortgages are in the news daily lately: record-low interest rates, record-high foreclosure rates, the sub-prime mortgage mess, lack of jumbo loans and so on.  It’s confusing at best and causing much concern for many people wishing to buy a home or refinance their existing home mortgage.

H. John [...]

Mortgage interest rates DROP!

By: Dennis Norman

Last week the average interest rate on 30-year fixed-rate mortgages dropped to 5.53% from 5.97%, making it the biggest one-week fall in 27 years! The Mortgage Bankers Associaiton also reported that mortgage loan applications were up over  100% during the week of November 24th after news that the Fed’s plan to buy mortgages. 

In addition, as I [...]