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By Debra Rasala | Broker in 46304
  • Completed Foreclosures Down Nearly 30 Percent From Peak

    Posted Under: Home Buying in Valparaiso, Home Selling in Valparaiso, Foreclosure in Valparaiso  |  July 5, 2012 3:13 PM  |  180 views  |  No comments

    CoreLogic’s most recent National Foreclosure Report shows 63,000 foreclosures were completed in May, down from 77,000 a year ago and 27 percent below their peak in 2010. Mark Fleming, CoreLogic’s chief economist, said there have been more than 819,000 completed foreclosures over the past year or an average of 2,440 foreclosures completed each day. But though the number of completed foreclosures is dropping, the overall level remains high. There have been nearly 3.6 million foreclosures completed across the country since the financial crisis began in 2008. Still, the national foreclosure inventory holds steady at around 1.4 million homes. Also, the report says the five states with the highest number of completed foreclosures over the past year account for nearly 50 percent of the national total. More here and here.

  • Mortgage purchase demand rose last week: MBA

    Posted Under: Home Buying in Valparaiso, Foreclosure in Valparaiso, Property Q&A in Valparaiso  |  March 14, 2012 9:50 AM  |  152 views  |  No comments

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    NEW YORK | Wed Mar 14, 2012 7:02am EDT

    (Reuters) - Demand for home purchases picked up for the third week in a row last week, though applications for refinancing sagged, an industry group said on Wednesday.

    The Mortgage Bankers Association said its seasonally adjusted index of overall mortgage application activity, which includes both refinancing and home purchase demand, fell 2.4 percent in the week ended March 9.

    The MBA'S gauge of loan requests for home purchases gained 4.4 percent.

    The rise in demand coincided with data released last week that showed employers hired more than 200,000 workers for the third month in a row in February .

    Even so, the level of applications was essentially unchanged compared with the same time last year, Michael Fratantoni, MBA's vice president of research and economics, said in a statement.

    "Purchase activity remains subdued and within the narrow range we have seen since the expiration of the homebuyer tax credit in 2010," said Fratantoni.

    Purchase application volume for February jumped 18.0 percent from the previous month, but was still down 2.0 percent from a year ago.

    The seasonally adjusted index of refinancing applications slumped 4.1 percent, while the refinance share of total mortgage activity eased to 75.1 percent of applications from 77.0 percent the week before.

    Fixed 30-year mortgage rates held steady at an average 4.06 percent.

    The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.

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