Posts Tagged home sales

Last Week In Mortgage News: March 20 – 27, 2017

real estate or mortgage chart

Starting this month, the Mid America Mortgage blog will periodically share a recap of the major events and noteworthy data released the week prior. Be sure to check back regularly to stay updated on the industry’s ever-changing landscape. For borrowers, staying informed of the latest mortgage market news can help you make more educated decisions when it comes to choosing home financing. Be sure to check back often for updates and don’t hesitate to contact your mortgage professional with questions. What’s in Today’s Recap? Mortgage Applications Fall in MBA’s Weekly Survey 2016 Cash and Distressed Home Sales Hit Nine-Year Lows Number

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Distressed Home Sales Drop to 9-Year Low

House with for sale sign out front

As the U.S. housing market continues to build strength, the amount of distressed home sales continues to plummet. According to data from a recent CoreLogic report, all-cash sales represented 31.1 percent of total home sales recorded in August. This represents a decline of 1.5 percentage points from August 2015.

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Pending Home Sales Reach 10-Year High

The number of homes under contract reached the highest level in a decade, according to data from the National Association of Realtors® most recent Pending Home Sales Index. Thanks to a stronger economy and lower mortgage rates, the Pending Home Sales Index (PHSI) revealed that pending home sales (which are home purchases that are under contract but have not closed yet) were up 4.6 percent in April when compared with the same month a year ago. Pending home sales also increased 5.1 percent from March 2016 to April 2016. For clarification, the PHSI only looked at existing homes and not

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