{"id":700,"date":"2014-11-26T08:31:52","date_gmt":"2014-11-26T08:31:52","guid":{"rendered":"http:\/\/team.simplyfreedom.ws\/?p=700"},"modified":"2016-05-05T07:59:42","modified_gmt":"2016-05-05T07:59:42","slug":"mba-mortgage-applications-down","status":"publish","type":"post","link":"http:\/\/team.simplyfreedom.ws\/index.php\/mba-mortgage-applications-down\/","title":{"rendered":"MBA – mortgage applications down"},"content":{"rendered":"

Published on: Nov 26, 2014 @ 8:31 am
\n<\/b><\/span><\/p>\n

Mortgage applications decreased 4.3% from one week
\nearlier,<\/h1>\n

according to data from the Mortgage Bankers
\nAssociation\u2019s (MBA) Weekly Mortgage Applications
\nSurvey for the week ending November 21, 2014.\u00a0 The
\nprevious week\u2019s results had included an adjustment
\nfor the Veterans Day holiday.\u00a0 The Market Composite
\nIndex, a measure of mortgage loan application volume,
\ndecreased 4.3% on a seasonally adjusted basis from one
\nweek earlier.\u00a0 On an unadjusted basis, the Index
\nincreased 5% compared with the previous week.\u00a0 The
\nRefinance Index decreased 4% from the previous week.
\nThe seasonally adjusted Purchase Index decreased 5%
\nfrom one week earlier.\u00a0 The unadjusted Purchase Index
\nincreased 1% compared with the previous week and was
\n10% lower than the same week one year ago.\u00a0 The
\nrefinance share of mortgage activity increased to 63%
\nof total applications from 61% the previous week.\u00a0 The
\nadjustable-rate mortgage (ARM) share of activity
\nincreased to 7.0% of total applications.\u00a0 The FHA share
\nof total applications decreased to 9.4% this week from
\n9.9% last week.\u00a0 The VA share of total applications
\ndecreased to 10.3% this week from 11.5% last week.\u00a0 The
\nUSDA share of total applications remained unchanged at
\n0.8% this week.\u00a0 The average contract interest rate for
\n30-year fixed-rate mortgages with conforming loan
\nbalances ($417,000 or less) decreased to 4.15% from
\n4.18%, with points increasing to 0.25 from\u00a0 0.24
\n(including the origination fee) for 80% loan-to-value
\nratio (LTV) loans.\u00a0 The effective rate decreased from
\nlast week.<\/p>\n

Consumer sentiment down November<\/h2>\n

US consumer sentiment rose in November to its highest
\nlevel in more than seven years on improvements in the
\ncurrent economic condition, including lower gas prices
\nand improving job prospects, a survey released on
\nWednesday showed.\u00a0 The Thomson Reuters\/University of
\nMichigan’s final November reading on the overall index
\non consumer sentiment came in at 88.8, its highest
\nreading since July 2007 on a final basis. The reading
\nwas up from the 86.9 the month before but slightly
\nbelow the preliminary reading of 89.4.\u00a0 Despite the
\nuptick, it was below the median forecast of 90.0 among
\neconomists polled by Reuters.\u00a0 “Consumers more
\nfrequently reported hearing about positive rather than
\nnegative economic developments in the November survey,
\nwith reports of improving employment the dominant news
\nitem,” survey director Richard Curtin said in a
\nstatement.\u00a0 “While there was no change in evaluations
\nof the current performance of the economy or the
\nyear-ahead outlook – both remained at positive levels –
\nthe longer term economic outlook improved
\nsubstantially.”\u00a0 The survey’s barometer of current
\neconomic conditions rose to 102.7 from 98.3, just below
\na forecast of 103.0.\u00a0 The survey’s gauge of consumer
\nexpectations edged up to 79.9 from the 79.6 in October
\nand was short of the expected 80.8.\u00a0 The survey’s
\none-year inflation expectation slipped to 2.8%, the
\nlowest year-ahead inflation rate expected since October
\n2010, from the 2.9% in the prior month. The survey’s
\nfive-to-10-year inflation outlook was at 2.6% from 2.8%
\nin October.<\/p>\n

NAR – pending home sales drop in October<\/h2>\n

Pending home sales declined in October but remained at
\na healthy level of activity and are above
\nyear-over-year levels for the second straight month,
\naccording to the National Association of Realtors
\n(NAR).\u00a0 The Pending Home Sales Index, a forward-looking
\nindicator based on contract signings, decreased 1.1% to
\n104.1 in October from an upwardly-revised 105.3 in
\nSeptember, but is 2.2% higher than October 2013
\n(101.9). The index is above 100\u2014considered an average
\nlevel of contract activity\u2014for the sixth consecutive
\nmonth.\u00a0 The median existing-home price for all housing
\ntypes in October was $208,300, which is 5.5% above
\nOctober 2013. Monthly median price growth has averaged
\n5.8% in 2014 (through October) after averaging 11.5%
\nlast year.\u00a0 The PHSI in the Northeast inched 0.5% to
\n87.9 in October, and is now 3.4% above a year ago. In
\nthe Midwest the index slightly declined 0.6% to 100.6
\nin October, and is now 3.0% below October 2013.
\nPending home sales in the South decreased 1.0% to an
\nindex of 118.3 in October, but is still 3.9% above last
\nOctober. The index in the West fell 3.2% in October to
\n98.1, but remains 4.1% above a year ago.<\/p>\n

Durable goods orders up in October<\/h2>\n

US durable-goods orders rose last month on a surge in
\nmilitary spending, but underlying data pointed to broad
\nweakness in business investment.\u00a0 Orders for durable
\ngoods–products like earth movers and refrigerators
\ndesigned to last at least three years–rose a
\nseasonally adjusted 0.4% in October from a month
\nearlier, the Commerce Department said Wednesday. That
\npartly reversed a 0.9% drop in September.\u00a0 Economists
\nsurveyed by The Wall Street Journal had expected
\noverall orders to fall 0.5%.\u00a0 The rise largely
\nreflected a 45.3% surge in demand for defense aircraft
\nand parts. But that masked weak demand for other goods.
\nExcluding transportation, orders fell 0.9%, the
\nbiggest drop since December 2013. Excluding
\ndefense-related products, orders fell 0.6%.\u00a0 Orders for
\nnondefense capital goods excluding aircraft-a measure
\nof business spending on equipment and software–fell
\n1.3% in October after dropping at the same rate in
\nSeptember.\u00a0 Orders for machinery, computer products,
\nfabricated metal products and primary metals all fell
\nlast month.<\/p>\n

The broader trend suggests demand for long-lasting
\ngoods continues to rise as more Americans gain jobs and
\nfirms gain confidence to invest. So far this year,
\norders for durable goods have risen 7.5% compared with
\n2013. Orders for nondefense capital goods excluding
\naircraft have climbed 5.4%.\u00a0 But the latest monthly
\nfigures also suggest the economy may be cooling from
\nits fast growth pace in the spring and summer.\u00a0 The US
\neconomy grew at an annualized pace of 3.9% in July
\nthrough September, concluding a six-month stretch that
\nmarked the strongest growth in more than a decade, the
\ngovernment reported this week. Many economists expect
\neconomic growth to slow to between 2% and 3% in the
\nfourth quarter, and Wednesday’s report could reaffirm
\nthose expectations.\u00a0 Troubles in Japan and Europe are
\nthreatening to dent US exports and hurt sales at
\nAmerican factories. But US companies and consumers are
\nalso being helped by lower fuel costs after a fall in
\nglobal oil prices. And they appear to be gaining enough
\nconfidence to invest as Americans sustain higher
\nspending.\u00a0 A Federal Reserve report earlier this month
\nsuggested economic growth could slow this quarter. US
\nindustrial production-the output of factories,
\nutilities and mines-fell 0.1% in October from the prior
\nmonth.<\/p>\n

US new home sales rise in October<\/h2>\n

Sales of new US single-family homes rose for a third
\nstraight month in October, but a downward revision to
\nthe prior month’s sales pace indicated the housing
\nmarket recovery would remain gradual.\u00a0 The Commerce
\nDepartment said on Wednesday that sales gained 0.7% to
\na seasonally adjusted annual rate of 458,000 units.
\nSeptember’s sales pace was revised down to 455,000
\nunits from 467,000 units.\u00a0 Economists polled by Reuters
\nhad forecast new home sales rising to a 472,000-unit
\npace last month.\u00a0 New home sales, which account for
\nabout 8% of the housing market, tend to be volatile
\nmonth to month. Compared to October last year, sales
\nwere up 1.8%.\u00a0 Housing remains constrained by slow wage
\ngrowth, which is resulting in a slow pace of household
\nformation.\u00a0 Last month, new home sales rose 7.1% in the
\nNortheast and surged 15.8% in the Midwest. In the
\npopulous South, sales fell 1.9% and were down 2.7% in
\nthe West.\u00a0 With sales rising modestly, the stock of new
\nhouses available on the market rose 1.0% last month to
\nthe highest level since June 2010.\u00a0 At October’s sales
\npace it would take 5.6 months to clear the supply of
\nhouses on the market, up from 5.5 months in September.
\nSix months’ supply is normally considered a healthy
\nbalance between supply and demand.\u00a0 The median new home
\nprice jumped 15.4% from a year ago to a record
\n$305,000.<\/p>\n

Midwest manufacturing growth slows<\/h3>\n

The Institute for Supply Management-Chicago\u2019s gauge
\nof manufacturing activity in the US Midwest fell to
\n60.8 in November from 66.2 the month prior.\u00a0 Economists
\nexpected a shallower drop to 63. Readings above 50
\npoint to expansion, while those below indicate
\ncontraction.<\/p>\n

NAR – commercial real estate demand holding steady<\/h3>\n

Despite a slowing global economy, forward economic
\nmomentum in the US should keep commercial real estate
\nactivity on firmer footing, according to the National
\nAssociation of Realtors (NAR) quarterly commercial real
\nestate forecast.\u00a0 Lawrence Yun, NAR chief economist,
\nsays commercial activity should progress at a gradual
\npace heading into 2015. \u201cSolid economic growth in the
\nthird quarter proved that the second quarter wasn\u2019t
\nan anomaly, as business spending increased, commercial
\nconstruction rose and the labor market continued to
\nmake positive strides,\u201d he said. \u201cJob growth is the
\ncatalyst to improved demand for commercial real estate
\nleasing and new construction projects.\u201d\u00a0 However, Yun
\ndoes caution that softening in the global economy will
\nlikely widen the trade deficit in the US and could
\ntrigger some weakening in the overall economy. \u201cGDP
\ngrowth in the fourth quarter will be sluggish at around
\n2% behind stalling exports. Although GDP will likely
\nclimb to near 3% in 2015, the current pace of job
\ngrowth could slow and ultimately impact commercial real
\nestate activity if sluggishness in the global economy
\npersists,\u201d he said.<\/p>\n

National office vacancy rates are forecast to decrease
\n0.5% over the coming year due to job growth exceeding
\ninventory coming onto the market. Improved
\nmanufacturing activity should lead to a declining
\nvacancy rate for industrial space (0.4%), while retail
\nspace is forecast to decline 0.2% behind a boost in
\nconsumer spending from personal income gains and lower
\ngas prices.\u00a0 \u201cLow housing inventory and the sizeable
\ndemand for rentals will continue to spur multifamily
\nconstruction as well as keep rents rising above
\ninflation through next year,\u201d says Yun.\u00a0 NAR\u2019s
\nlatest Commercial Real Estate Outlook offers overall
\nprojections for four major commercial sectors and
\nanalyzes quarterly data in the office, industrial,
\nretail and multifamily markets. Historic data for metro
\nareas is provided by REIS Inc., a source of commercial
\nreal estate performance information.<\/p>\n

Office Markets<\/h3>\n

Office vacancy rates are forecast to slightly decline
\nfrom 15.7% in the fourth quarter to 15.6% through the
\nfourth quarter of 2015.\u00a0 The markets with the lowest
\noffice vacancy rates in the fourth quarter are
\nWashington, D.C., at 9.3%; New York City, 9.6%; Little
\nRock, Ark., 11.6%; San Francisco, 12.2%; and Seattle,
\nat 12.8%.\u00a0 Office rents are projected to increase 2.4%
\nin 2014 and 3.3% next year. Net absorption of office
\nspace in the US, which includes the leasing of new
\nspace coming on the market as well as space in existing
\nproperties, is likely to total 35.6 million square feet
\nthis year and 48.8 million in 2015.<\/p>\n

Industrial Markets<\/h3>\n

Industrial vacancy rates are expected to fall from 8.8%
\nin the fourth quarter to 8.4% in the fourth quarter of
\n2015.\u00a0 The areas with the lowest industrial vacancy
\nrates currently are Orange County, Calif., with a
\nvacancy rate of 3.6%; Los Angeles, 3.7%; Seattle, 5.8%;
\nMiami, 6.0; and Palm Beach, Fla., at 6.5%.\u00a0 Annual
\nindustrial rents should rise 2.4% this year and 2.9% in
\n2015. Net absorption of industrial space nationally is
\nexpected to total 110.7 million square feet in 2014 and
\n102.5 million square feet next year.<\/p>\n

Retail Markets<\/h3>\n

Vacancy rates in the retail market are expected to
\ndecline from 9.7% currently to 9.5% in the fourth
\nquarter of 2015.\u00a0 Currently, the markets with the
\nlowest retail vacancy rates include San Francisco, at
\n3.5%; Fairfield County, Conn., 3.9%; San Jose, Calif.,
\n4.6%; Orange County, Calif., 5.2%; and Long Island,
\nN.Y., at 5.3%.\u00a0 Average retail rents are forecast to
\nrise 2.0% in 2014 and 2.5% next year. Net absorption of
\nretail space is likely to total 11.4 million square
\nfeet this year and jump to 18.9 million in 2015.<\/p>\n

Multifamily Markets<\/h3>\n

The apartment rental market \u2013 multifamily housing \u2013
\nshould see vacancy rates slightly increase from 4.0%
\ncurrently to 4.3% in the fourth quarter of 2015.
\nVacancy rates below 5% are generally considered a
\nlandlord\u2019s market, with demand justifying higher
\nrent.\u00a0 Areas with the lowest multifamily vacancy rates
\ncurrently are Orange County, Calif., and Sacramento,
\nCalif., at 2.2%; Providence, R.I., and New Haven,
\nConn., at 2.3%; and Hartford, Conn., at 2.5%.\u00a0 Average
\napartment rents are projected to rise 4.0 this year and
\n3.9% in 2015. Multifamily net absorption is expected to
\ntotal 216,300 units in 2014 and 171,200 next year.<\/p>\n

RealtyTrac – US median home price in October increases<\/h3>\n

RealtyTrac today released its October 2014 Residential
\n& Foreclosure Sales Report, which shows the median
\nsales price of US single family homes and condos in
\nOctober was $193,000, up 2% from the previous month and
\nup 16% from a year ago to the highest level since
\nSeptember 2008 \u2014 a 73-month high.\u00a0 \u201cThis US
\nrecovery is largely being driven by investors, and as
\nthe lower-priced, often distressed inventory most
\nappealing to investors dries up in a given market,
\ninvestor activity will slow down in that market and
\nmove to other markets with more ideal inventory
\navailable,\u201d said Daren Blomquist, vice president at
\nRealtyTrac. \u201cThis has created a ripple-effect
\nrecovery moving out from traditional investor hot spots
\nsuch as Phoenix, Atlanta and many California markets
\nand into markets such as Charlotte, Columbus, Ohio,
\nDallas and Oklahoma City.\u00a0 \u201cMore than 32% of all
\nsingle family homes and condos purchased so far in 2014
\nare non-owner occupied compared to 68% that are
\nowner-occupied,\u201d Blomquist added. \u201cThat is the
\nhighest share of investor purchases since we began
\ntracking in 2001.\u201d<\/p>\n

The October median sales price \u2014 which included both
\ndistressed sales of homes in some stage of foreclosure
\nand non-distressed sales \u2014 was up 37% from a trough
\nof $141,000 in March 2012 but still 19% below the
\nprevious peak of $237,537 in August 2006. Among 97
\nmetropolitan statistical areas with a population of
\n500,000 or more with sufficient home price data, 20
\nhave reached new post-recession median sales price
\npeaks in 2013 or 2014, including Denver, Pittsburgh,
\nColumbus, Ohio, and Charlotte.\u00a0 \u201cHome prices have
\nrisen substantially in the lower price ranges \u2014
\ngenerally under $400,000.\u00a0 The median sales price of
\ndistressed homes \u2014 those in the foreclosure process
\nor bank-owned \u2014 was $128,701 nationwide in October,
\n36% below the median sales price of non-distressed
\nproperties, $200,000. But distressed home prices
\nincreased at a faster pace, up 18% from a year ago
\nwhile non-distressed home prices were up 11% during the
\nsame time period.\u00a0 \u201cThe demand is strong for a
\nlessening distressed inventory and pushing prices to
\ntheir highest level since 2008,\u201d said Mike Pappas,
\nCEO and president of the Keyes Company, covering the
\nSouth Florida market. \u201cAdditionally, due to the long
\ndelay in our judicial foreclosure system we are now
\nseeing a higher quality of distressed inventory being
\nliquidated, although overall home prices have begun to
\ngradually level off over the past few months as the
\nmarket normalizes.\u201d<\/p>\n

Markets with highest home price appreciation<\/h4>\n

Among metro areas with a population of 500,000 or more
\nand sufficient home price data, those with the biggest
\nannual increase in median sales price were Toledo, Ohio
\n(up 33%), Detroit (up 27%), Cleveland (up 21%),
\nMcAllen-Edinburg-Mission, Texas (up 21%), and Dayton,
\nOhio (up 20%).\u00a0 Other major markets with double-digit
\nappreciation compared to a year ago included Memphis,
\nTenn. (up 18%), Austin, Texas (up 17%), Miami (up 16%),
\nHouston (up 16%), Cincinnati (up 15%), and Chicago (up
\n15%).\u00a0 \u201cWhile price appreciation has leveled off
\nmonth to month, home prices have increased
\nsignificantly from a year ago and we expect this trend
\nto continue,\u201d said Craig King, COO of Chase
\nInternational, covering the Lake Tahoe and Reno, Nev.,
\nmarkets.\u00a0 The median sales price in Reno was unchanged
\nfrom September to October but up 15% from a year ago
\n\u2014 the 29th consecutive month with a year-over-year
\nincrease in the market.\u00a0 \u201cA number of things have
\nlined up regionally to provide game changing growth as
\nwe look forward,\u201d continued King. \u201cThe world is
\naware that Tesla is making a move in to Northern Nevada
\nwith their Gigafactory, but there are other huge
\nprojects on tap as well.\u00a0 Collectively, these projects
\ncould account for population gains of 20 to 25% in the
\nregion over the next four to five years. With limited
\ninventory the demand for housing will be
\nunprecedented.\u201d<\/p>\n

Markets with accelerating home price appreciation<\/h4>\n

Home price appreciation accelerated in 45 of the 97
\n(46%) metro areas nationwide with a population of half
\na million or more and with sufficient home price data.
\nMarkets with the fastest-accelerating appreciation
\nincluded Cincinnati (15% annual appreciation this year
\ncompared to 4% annual depreciation last year),
\nCleveland (21% annual appreciation this year compared
\nto 2% annual appreciation last year), Nashville (13%
\nannual appreciation this year compared to 1% annual
\nappreciation last year), Charlotte (10% annual
\nappreciation this year compared to 1% annual
\ndepreciation last year), and Columbus, Ohio (14% annual
\nappreciation this year compared to 3% annual
\nappreciation last year.\u00a0 Other major markets with
\naccelerating home price appreciation were Chicago (15%
\nannual appreciation this year compared to 11% a year
\nago), Dallas (11% annual appreciation this year
\ncompared to 7% a year ago), Pittsburgh (8% annual
\nappreciation compared to 5% a year ago), Seattle (10%
\nannual appreciation this year compared to 7% a year
\nago), Tampa (15% annual appreciation this year compared
\nto 12% a year ago) and\u00a0 Baltimore (2% annual
\nappreciation this year compared to 0% a year ago).
\n\u201cThe continued rise in Seattle median home prices is
\nlargely a result of a strong local economy, low housing
\nsupply, and high buyer demand,\u201d said OB Jacobi,
\npresident of Windermere Real Estate, covering the
\nSeattle market. The percentage of distressed home sales
\nin Seattle has returned to pre-mortgage crisis levels,
\nwith activity being driven by the hardships that have
\nalways instigated short sales, such as job loss,
\ndivorce, illness, and job relocation. Most of the
\ndistressed properties have shifted into the outlying
\nareas around Seattle and are selling for well under the
\nmedian home price.\u201d<\/p>\n

Markets with slowing home price appreciation<\/h4>\n

Home price appreciation slowed compared to a year ago
\nin 52 of the 97 (54%) metro areas nationwide with a
\npopulation of half a million or more and with
\nsufficient home price data.\u00a0 Some of the
\nfastest-appreciating markets in 2013 have seen
\nsubstantial slowdowns in price appreciation this year,
\nincluding Phoenix (6% annual appreciation in October
\n2014 compared to 25% a year ago), Los Angeles (9%
\nannual appreciation this year compared to 24% a year
\nago), Oxnard-Thousand Oaks-Ventura in Southern
\nCalifornia (7% annual appreciation this year compared
\nto 24% a year ago), Jacksonville, Fla. (4% annual
\nappreciation this year compared to 23% a year ago),
\nBoston (3% annual appreciation this year compared to
\n21% a year ago), and San Diego (8% this year compared
\nto 19% a year ago).\u00a0 Other major markets with
\ndecelerating home price appreciation in October were
\nNew York (1% annual appreciation this year compared to
\n4% a year ago), Philadelphia (4% annual depreciation
\nthis\u00a0 year compared to 5% annual appreciation a year
\nago), Houston (16% annual appreciation this year
\ncompared to 27% a year ago), Miami (16% annual
\nappreciation this year compared to 20% a year ago),
\nAtlanta (13% annual appreciation this year compared to
\n25% a year ago), and San Francisco (12% annual
\nappreciation this year compared to 34% a year ago).<\/p>\n

Las Vegas, Central California and Central Florida post
\nhighest distressed sale share<\/h4>\n

Short sales and distressed sales \u2014 in foreclosure or
\nbank-owned \u2014 combined accounted for 13.8% of all
\nresidential property sales in October, up slightly from
\n13.7% the previous month, but down from 14.7% in
\nOctober 2013.\u00a0 Markets with the highest percentage of
\ndistressed and short sales combined were Las Vegas
\n(33.6%), Stockton, Calif., (33.6%), Modesto, Calif.,
\n(31.7%), Lakeland, Fla., (28.9%), and Orlando (28.4%).<\/p>\n

Short sales share close to pre-recession levels
\nnationwide, up from a year ago in 12 states<\/h4>\n

Short sales accounted for 5.0% of all residential
\nproperty sales in October, unchanged from the previous
\nmonth and a year ago and not far above the
\npre-recession average of 4.5% a month in 2006.\u00a0 Markets
\nwith the highest percentage of short sales were in
\nOrlando (14.2%), Lakeland, Fla., (13.0%), Palm
\nbay-Melbourne-Titusville, Fla., (11.8%), Cape
\nCoral-Fort Myers, Fla., (11.8%), and Las Vegas (11.5%).
\nTwelve states saw an increase in short sales share
\ncompared to a year ago, including New Jersey (7.1%
\ncompared to 4.6% a year ago), Illinois (9.9% compared
\nto 6.6% a year ago), Maryland (9.3% compared to 7.2% a
\nyear ago), Ohio (5.4% compared to 4.7% a year ago),
\nNevada (10.8% compared to 9.8% a year ago), California
\n(4.6% compared to 4.3% a year ago), Michigan (6.5%
\ncompared to 6.2% a year ago) and Arizona (5.8% compared
\nto 5.6% a year ago).<\/p>\n

Bank-owned sales share matches lowest level since
\nJanuary 2011<\/h4>\n

Sales of bank-owned properties nationwide accounted for
\n7.5% of all US residential sales in October, the same
\nas previous month but down from 9.1% a year ago. The
\nshare of bank-owned sales in September and October was
\nthe lowest share since January 2011.\u00a0 Markets with the
\nhighest percentage of bank-owned sales were in
\nStockton, Calif. (23.5%), Modesto, Calif., (19.3%),
\nBakersfield, Calif., (18.8%), Las Vegas (18.6%),
\nRiverside-San Bernardino, Calif., (18.3%), and Phoenix
\n(16.4%).\u00a0 \u201cDistressed sales remain a small percentage
\nof the overall marketplace in Southern California as
\nprices stabilize and market health continues to
\nimprove,\u201d said Chris Pollinger, senior vice president
\nof sales at First Team Real Estate, covering the
\nSouthern California market.<\/p>\n

Foreclosure auction sales share increases most in
\nMidwest, Rust Belt cities<\/h4>\n

Sales at the public foreclosure auction accounted for
\n1.3% of all US residential property sales in October,
\nup from 1.2% in September and up from 0.7% in October
\n2013.\u00a0 Markets with the highest percentage of sales at
\nforeclosure auction were Lakeland, Fla. (5.4%), Orlando
\n(4.2%), Palm Bay-Melbourne-Titusville (4.1%), Miami
\n(4.1%), Tampa (4.0%) and Las Vegas (3.5%).\u00a0 Markets
\nwith the biggest annual increases in share of
\nforeclosure auctions were Des Moines (1.9% compared to
\n0.1% a year ago), Akron, Ohio (2.1% compared to 0.1% a
\nyear ago), Philadelphia (1.9% compared to 0.1% a year
\nago), Chattanooga, Tenn., (1.3% compared to 0.1% a year
\nago), and Fresno, Calif., (0.9% compared to 0.1% a year
\nago).\u00a0 Major metros with an annual increase in share of
\nforeclosure auction sales included Dallas (1.8%
\ncompared to 0.4% a year ago), Cincinnati (1.2% compared
\nto 0.3% a year ago), Columbus (3.0% compared to 0.7% a
\nyear ago), San Antonio (1.5% compared to 0.4% a year
\nago), Cleveland (2.2% compared to 0.6% a year ago),
\nHouston (1.6% compared to 0.6% a year ago),
\nJacksonville, Fla., (3.5% compared to 1.4% a year ago),
\nOklahoma City (1.3% compared to 0.8% a year ago),
\nVirginia Beach (1.4% compared to 0.8% a year ago), and
\nAtlanta (2.3% compared to 3.3% a year ago).<\/p>\n","protected":false},"excerpt":{"rendered":"

Published on: Nov 26, 2014 @ 8:31 am Mortgage applications decreased 4.3% from one week earlier, according to data from the Mortgage Bankers Association\u2019s (MBA) Weekly Mortgage Applications Survey for the week ending November 21, 2014.\u00a0 The previous week\u2019s results had included an adjustment for the Veterans Day holiday.\u00a0 The Market Composite Index, a measure […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[39],"tags":[53,50,44,52,46,48,45,51,54,47,49],"_links":{"self":[{"href":"http:\/\/team.simplyfreedom.ws\/index.php\/wp-json\/wp\/v2\/posts\/700"}],"collection":[{"href":"http:\/\/team.simplyfreedom.ws\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/team.simplyfreedom.ws\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/team.simplyfreedom.ws\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/team.simplyfreedom.ws\/index.php\/wp-json\/wp\/v2\/comments?post=700"}],"version-history":[{"count":3,"href":"http:\/\/team.simplyfreedom.ws\/index.php\/wp-json\/wp\/v2\/posts\/700\/revisions"}],"predecessor-version":[{"id":807,"href":"http:\/\/team.simplyfreedom.ws\/index.php\/wp-json\/wp\/v2\/posts\/700\/revisions\/807"}],"wp:attachment":[{"href":"http:\/\/team.simplyfreedom.ws\/index.php\/wp-json\/wp\/v2\/media?parent=700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/team.simplyfreedom.ws\/index.php\/wp-json\/wp\/v2\/categories?post=700"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/team.simplyfreedom.ws\/index.php\/wp-json\/wp\/v2\/tags?post=700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}