Mortgage Bankers Association

Austin Mortgage Market Update – For the week of November 22, 2010

Last Wednesday, the Commerce Department reported that Housing Starts dropped 11.7% in October. This drop put Housing Starts at a seasonally adjusted annual rate of 519,000, their lowest level in 18 months. But most of the fall off came from a 43.5% decline in multifamily construction, a volatile part of the market. Single-family building, accounting for more than 80% of all starts, was off just 1.1%, to 436,000 units. And September single-family starts were revised UP to a 2.1% gain. Meanwhile, Building Permits, which reflect builders' views of the future, were UP 0.5% to 550,000, another hopeful sign.

November 22, 2010|Inside Lending Newsletter|

Austin Mortgage Market Update – For the week of October 18, 2010

Austin mortgage rates, already at historically low levels, have been sliding even further the last few weeks. Nonetheless, the Mortgage Bankers Association's Weekly Mortgage Applications Survey showed purchase applications down a bit from the week before.

October 18, 2010|Inside Lending Newsletter|

Given the “juice” provided by QE2 (rumor or real), we may be set up for a blow off top and hard reversal

October 6, 2010|Austin Mortgage Market|

Austin Mortgage Market Update – For the week of August 30, 2010

The Mortgage Bankers Association's weekly survey showed purchase loan applications UP 1% from the week before, refinance applications UP 6%, and Austin mortgage rates at record low levels

August 30, 2010|Inside Lending Newsletter|

Austin Mortgage Market Update – For the week of August 23, 2010

Housing starts were UP 1.7% for July to a 546,000 annual pace, but this was below expectations and all the gain came from a big boost in multi-family starts. Single-family starts were off 4.2%, declining for the third straight month. Looking at the market further out, we saw new building permits down 3.1% for July to a 565,000 annual rate.

August 23, 2010|Inside Lending Newsletter|

Austin Mortgage Market Update – For the week of August 16, 2010

Freddie Mac's weekly survey showed Austin mortgage rates staying at record low levels for conforming loans. But demand for purchase loans has dropped after the tax credit expiration, according to the Mortgage Bankers Association.

August 16, 2010|Inside Lending Newsletter|

Austin Mortgage Market Update – For the week of July 12, 2010

Last week's Inside Lending reported that on Friday, the President signed into law a bill that extends to September 30 the closing deadline for claiming the federal homebuyer tax credit. We want to add he signed a second bill that retroactively reinstates the National Flood Insurance program, which expired May 31, until September 30. This news is important for home buyers who are shopping in areas where flood insurance is necessary to get a mortgage. It would obviously behoove these buyers to close before September 30.

July 12, 2010|Austin Mortgage Market, Inside Lending Newsletter|

Austin Mortgage Market Update – For the week of March 15, 2010

There wasn't a ton of housing news last week, but one can always find a few significant items. For example, foreclosure filings in February were down 2% from January and up just 6% from a year ago -- their smallest increase in four years. Most significantly, in the six states that made up 61% of the national total for February, foreclosure filings were down 15% from a year ago. We're definitely heading in the right direction.

March 15, 2010|Austin Mortgage Market|

Austin Mortgage Market Update – For the week of February 22, 2010

Builders are jumping on the recovery bandwagon, as January Housing Starts beat consensus estimates, heading UP 2.8% to an annual rate of 591,000 units. Single-family starts are now 35.6% up from their low a year ago. Total new building permits dropped a tad in January, but single-family permits were up 0.4% for the month and UP 48.2% from a year ago.

February 22, 2010|Inside Lending Newsletter|

Existing Home Sales Surge

There were few major surprises in the economic news this week, and little change in the stock market. While there was a great deal of daily volatility, Austin mortgage rates ended the week nearly unchanged.

October 24, 2009|MBS Quoteline Newsletter|

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