Mortgage Bankers Weekly Survey: Mortgage Applications Decrease

7/06/11
Fixed rate mortgages are changed little this week, at 4.5%.

The MBAA reports their Market Composite Index: (Loan application volume)  decreased 5.2 percent on a seasonally adjusted basis from one week earlier.
Their Refinance Index: decreased 9.2 percent from the previous week and for the last three weeks. However,Mortgage applications also decreased 5.9% from one week earlier The MBAA reports their Purchase Indexincreased 4.4 percent compared with the previous week and was 11.7 percent higher than the same week one year ago.

Key to better numbers is growth, especially job growth. The MBAA forecasts a slower, but positive growth situation. 4th quarter 2010 GDP growth was 3.1%. After a dip to 1.8% this quarter, they see growth through 2012 largely around 2.8%. Not likely a strong scenario for enough job growth to help the housing markets push forward.
Confirming the trend is the MBAA mortgage orgination forecast: Mortgage originations (in billions of dollars) are expected to come in at $1025 for 2011 and $961 for 2012.

Thanks For Readingwww.yourpropertypath.com

Freddie Mac Weekly Update: 30-Year Fixed-Rate Mortgage Rises to 4.60 Percent

30-year fixed-rate mortgage:averaged 4.60 percent with an average 0.7 point for the week ending July 7, 2011, up from last week when it averaged 4.51 percent. Last year at this time, the 30-year FRM averaged 4.57 percent. 

The 15-year fixed-rate mortgage:averaged 3.75 percent with an average 0.7 point, up from last week when it averaged 3.69 percent. A year ago at this time, the 15-year FRM averaged 4.07 percent. 

Five-year indexed hybrid adjustable-rate mortgages ARMs: averaged 3.30 percent this week, with an average 0.6 point, up from last week when it averaged 3.22 percent. A year ago, the 5-year ARM averaged 3.75 percent.

One-year Treasury-indexed ARMs: averaged 3.01 percent this week with an average 0.6 point, up from last week when it averaged 2.97 percent. At this time last year, the 1-year ARM averaged 3.75 percent.   .

Freddie Sayz

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac

Mortgage rates followed Treasury yields higher over the holiday week but remain quite affordable by historical standards. For instance, interest rates on all mortgages outstanding in the first quarter of this year averaged just under 6 percent. With today's rates, these homeowners who have the ability to refinance could shave $169 per month in interest payments on a $200,000, 30-year fixed mortgage

Thanks For Reading
www.yourpropertypath.com

Consecutive Week

30-year fixed-rate mortgage:averaged 4.87 percent with an average 0.7 point for the week ending March 3, 2011, down from last week when it averaged 4.95 percent. Last year at this time, the 30-year FRM averaged 4.97 percent

The 15-year fixed-rate mortgage: averaged 4.15 percent with an average 0.7 point, down from last week when it averaged 4.22 percent. A year ago at this time, the 15-year FRM averaged 4.33 percent.

Five-year indexed hybrid adjustable-rate mortgages ARMs: averaged 3.72 percent this week, with an average 0.6 point , down from last week when it averaged 3.8 percent. A year ago, the 5-year ARM averaged 4.11 percent.

One-year Treasury-indexed ARMs: averaged 3.23 percent this week with an average 0.6 point, down from last week when it averaged 3.4 percent. At this time last year, the 1-year ARM averaged 4.27 percent.

Freddie Sayz 

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac

Mortgage rates saw an overall improvement this week. Interest rates for 30-year fixed mortgages were almost 0.2 percentage points below this years high set just three weeks ago. This means that homebuyers could now expect to pay $263 less per year on a $200,000 loan

However, housing demand still remains weak. New home sales in January were near record lows dating back to 1963 when the data began, according to the Census Bureau . Similarly, pending sales of existing homes fell for the second consecutive month in January, according to the National Association of Realtor

Thanks for Reading
www.yourpropertypath.com

Mortgage Bankers Weekly Survey: Mortgage Applications Decrease

6/29/11
Fixed rate mortgages are changed little this week, at 4.5%.

The MBAA reports their Market Composite Index: (Loan application volume) decreased 2.7 percent on a seasonally adjusted basis from one week earlier.
Their Refinance Index: also decreased 2.6 percent from the previous week. However, Mortgage applications also decreased 5.9% from one week earlier The MBAA reports their Purchase Index  decreased 3 percent from thew week earlier
Key to better numbers is growth, especially job growth. The MBAA forecasts a slower, but positive growth situation. 4th quarter 2010 GDP growth was 3.1%. After a dip to 1.8% this quarter, they see growth through 2012 largely around 2.8%. Not likely a strong scenario for enough job growth to help the housing markets push forward.
Confirming the trend is the MBAA mortgage orgination forecast: Mortgage originations (in billions of dollars) are expected to come in at $1025 for 2011 and $961 for 2012.

Thanks for Reading
www.yourpropertypath.com

Mortgage Bankers Association for the week of 6/22/2010

Fixed rate mortgages are changed little this week, at 4.5%.The MBAA reports their Market Composite Index: (Loan application volume) decreased 5.9 percent over last week

Their Refinance Index: also decreased 7.2 percent from the previous week .However, Mortgage applications also decreased 5.9% from one week earlier The MBAA reports their Purchase Index  decreased 3.9 percent

Key to better numbers is growth, especially job growth. The MBAA forecasts a slower, but positive growth situation. 4th quarter 2010 GDP growth was 3.1%. After a dip to 1.8% this quarter, they see growth through 2012 largely around 2.8%. Not likely a strong scenario for enough job growth to help the housing markets push forward.

Thanks for Reading
www.yourpropertypath.com

Better Market Street Project: What San Francisco Has In Store For Us

Wiki History

Jasper O'Farrell established Market Street as the widest street in town, he envisioned a grand boulevard, an arrow straight to the heart of Twin Peaks. The Better Market Steet Project is designed to recapture his vision all these years later.

Market street has been a blight for a long long time. When the freeway came down it opened up the Emarcaderos for development. We have a new Farmers Market and Boulevard, Rincon Center and a host of restaurants and condo development.

Twitter is moving to 1355 Market and that will no doubt help grow out mid Market. Upper Market is seeing new growth and Hayes Valley has helped link the Civic Center cultural centers of the Ballet and Symphony to the new location for the Conservatory of Music just off Vann Ness and Market.

San Francisco is looking transform Market Street from the Embarcaderos to Octavia Street with long term infrastructure improvements to develop a safe sustainable boulevard, a place to stroll, bike and shop. Plans are for a ground-floor redesign of buildings all along Market to create a singular look and feel. A grand boulevard, offering a Market street that will be the signature corridor in San Francisco. Close to the cultural centers of the Civic Center, peppered with new housing and local internet industry leaders... Very Cool.

New Opportunity?
The real question is whether the Better Market Street Project, especially as it focus's on Mid Market and the new Twitter location at 1355 Market will benefit the Tenderloin or the Mission.

Will the Twitter folks (Yelp and Zynga cant be far behind) move to the Tenderloin or the Mission? My bets on the Mission side, its become a hotspot hang out for much of the San Francisco tech industry and new restaurants are popping up all around Mission from 14th up to 24th. I think the lower Mission is a growth opportunity

REsourced from www.yourpropertypath.com
You may republish this article, as long as you do not edit and you agree to preserve all links to the author and www.yourpropertypath.com