The Federal Housing Finance Agency (FHFA) released some great news this week. Slowly but surely, home prices are returning to their pre-crash peak levels. By looking at Fannie Mae and Freddie Mac mortgage financing figures, the latest Home Price Index (HPI) showed an increase of 0.3 percent in August over the previous month’s figure. Even better, the HPI is up
Last week, mortgage applications saw a sharp increase. Declining rates encouraged aspiring homeowners to take the leap and invest in a personal residence. According to the Mortgage Bankers Association, its application survey data rose by 25.5 percent. This atypical movement ran the gamut since the refinancing index also grew by 24 percent. It would appear that the amount of purchase
For 42 consecutive months, the Home Price Index has risen. It was up 6.9 percent from August 2014 and included distressed sales. The boost in home prices in the lower end of the market means owners at that level are finally seeing a rise in equity. Colorado and Washington are two states enjoying double-digit yearly price increases. Nevada and Oregon
For years following the Great Recession, many Americans were unable to refinance due to a lack of equity. However, Black Knight Financial Services reports that as a result of increases in home values, people have been able to refinance and even take advantage of cash-out refinances. Based on data from Black Knight’s Mortgage Monitor Report, home equity rose nearly a
