Completed foreclosures and distressed inventory continued their downfall in June, CoreLogic reported Tuesday. Data for last month showed 55,000 homes were lost to foreclosure, down 20% from June 2012. The decrease represents the 19th month-in-a-row completed foreclosures have ticked down. However, on a monthly basis, completed foreclosures inched up by 2.5%. Since the financial crisis began in September…
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Home Sale Prices Rise to 5 Year High – Up 5.9% in May
Home prices rose to their highest levels in almost five years in May, increasing by a non-seasonally adjusted 2.5 percent, according to the Case-Shiller Home Price Indices released Tuesday. The 20-city index was up 12.2 percent from a year earlier, and the companion 10-city index was up 11.8 percent. For the month, the 10-city index rose 2.5…
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Fixed Rates Skyrocket in Response to Fed Remarks – Largest Weekly Increase in 27 Years
Mortgage rates shot up in the last week following remarks from the Federal Reserve that it may be tapering its bond purchases later this year. According to Freddie Mac’s Primary Mortgage Market Survey, the average 30-year fixed-rate mortgage (FRM) rose to 4.46% (0.8 point) for the week ending June 27, an increase from only 3.93% last week…
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Monthly Increase In REOs By Over 11% Drives Up Foreclosure Activity in May
After posting a 75-month low in April, foreclosure filings increased 2 percent in May, according to RealtyTrac. The rise was primarily driven by an 11% increase in REOs over the month. However, REOs demonstrated a 29% decline year-over-year in May, while foreclosure filings fell 28% over the same time period. “Foreclosure activity continued to bounce back in…
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Foreclosure Inventory Falls 24% from Year Ago
Foreclosure inventory continued to shrink in April, with the number of homes in some stage of the foreclosure process down 24 % year-over-year, according to data from CoreLogic. About 1.1 million homes sat in foreclosure inventory in April compared to 1.5 million properties a year ago, CoreLogic reported. Foreclosure inventory also dipped month-over-month, falling 2% from…
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Existing-Home Sales and Prices Jump to Multiyear Highs
Existing-home sales rose 0.6% in April to an annual sales rate of 4.97 million, the highest level since November 2009, the National Association of Realtors reported Wednesday. Economists had expected a 1.6% increase to 5.0 million from March’s original report of 4.92 million sales. March sales were adjusted upward to 4.94 million. The median price of an…
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Home Prices Up 10.7% Year Over Year – Biggest Annual Gain Since 2006
Year-over-year home price gains in March landed in double-digit territory, according to CoreLogic’s Home Price Index (HPI) report. Home prices—when including distressed sales—rose by 10.5% in March compared to the year before, marking the biggest annual gain since March 2006, the data provider reported. When excluding distressed sales, prices were up by 10.7% year-over-year. “For the first time…
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Foreclosure Inventory Down Nearly 20% From A Year Ago
In December, the number of homes in some stage of the foreclosure process continued to shrink, and fewer homes were lost to foreclosure, according to the National Foreclosure Report from Corelogic. Foreclosure inventory saw a 19.5% decrease from a year ago as foreclosure inventory was reduced to 1.2 million homes, down from 1.5 million in December 2011. The number…
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