Mortgage markets worsened last week as the investors moved back into risk-taking mode.
According to data from RealtyTrac, a national foreclosure-tracking firm, the number of foreclosure filings dipped below 192,000 in July 2012, a 3 percent decrease from the month prior.
80 U.S. metropolitan markets are showing “measurable and sustained growth” this month, according to the National Association of Homebuilders’ Improving Market Index.
As another signal of an improving U.S. economy, the nation’s biggest banks have started to loosen mortgage lending standards.
Planning to make a late-August purchase closing? Keep an eye on your calendar. The last Friday of the month coincides with Labor Day Weekend, which may make for a complicated, end-of-month closing.
Mortgage bonds worsened last week, moving to a near-6 week high.
This week, for the first time since mid-June, the 30-year fixed rate mortgage rate climbed on a week-over-week basis, moving 6 basis points to 3.55%, on average.
Breaking down the FOMC’s August 1 statement.
All 20 Case-Shiller Index markets improved between April and May 2012.