More than half of US metros post higher foreclosure activity

By
Mortgage and Lending NMLS 291249

DailyMORTGAGE LOCK ADVISORY 

July 26, 2012, 6:30 am PST

Click for Lock Advice Updated Several Times Daily

      

7 day Mortgage Interest Rate lock or Float Advice: LOCK Mortgage Points based on 3.5% Mortgage Backed Securities are Up 0.05 point.  After a long run up it may be time for a correction.


30 Day Mortgage Interest Rate Lock or Float Advice: LOCK.

Rates could easily move higher or lower, but given the nearness to all time lows, there's generally more risk than reward regarding floating so my advice is to lock.

 

MORTGAGE MARKET INDICATORS

National Average Fixed Rate Mortgage 3.53%
MBS (3.5%) - 106.21, High: 106.28, Low: 106.13   
DJI Stocks currently $12,786.17,  Up $110.12, Change 0.861%   
Asian & European Stock Market Indexes Up 2.617%   
Nymex Crude Oil Currently $90.03 Up $1.06   
Gold 1 Once - $1,615.75  
       

MORTGAGE NEWS BRIEFS 

  

More than half of US metros post higher foreclosure activity By Kerri Ann Panchuk
Foreclosure activity in the first half of 2012 picked up in 125 of the 212 U.S. metros surveyed by RealtyTrac in the research firm's latest Foreclosure Market Report.
Despite foreclosure increases in many markets, 129 metros still experienced year-over-year declines in foreclosure activity, according to the Irvine, Calif-based real estate research firm.>> Read More Housing Wire

 

Home Prices Continue Gradual Rise, but is Calling a Bottom Premature?
There was general agreement on the increase in home price levels in May in data released from by two different sources this morning>> Read More in Mortgage News Daily
 

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Rainer
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Dan Hopper
Denver Realtor Advocate/Short Sale/Loan Modificati
RE/MAX Alliance, www.danhopper.com

Yes, Bill .... foreclosure notices have picked up in our Metro area of Denver, in 3 counties over last year at this same time.  But we predicted that would happen, last December.  With all of the communication with distressed homeowners 5-6 months ago... so many were 4-10 months behind without any notices received.  So, you knew the banks were going to let loose soon.... and they are!!

July 26, 2012 06:41 AM
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Bill Ladewig

Your FHA Guru - Closing Home Homes Since 1970
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