Tuesday, December 30, 2008

VA Originations Fall in November

VA Originations fell to nearly 15,000 in November. This is a drop from nearly 19,000 in the month of October. This reduction may be seasonal but we will continue to monitor the trend over the coming months.

Click on the image below for a larger view.

Tuesday, December 23, 2008

FHA Purchase Mortgage Endorsements - 78,000 for November

Monthly FHA Purchase Mortgage Data Chart FHA purchase money mortgage endorsements for November 2008 was 78,824 units. This was a large decline from October when FHA endorsed 107,357 purchase mortgages. This decline in FHA purchase endorsements is partially a seasonal adjustment. Another contributor might be that as of October, seller assisted down payment assistance through a non profit organization is no longer eligible for FHA mortgage insurance.

Soon we might be asking "where is DAP ... now that we really need them?"

Friday, December 19, 2008

Adjustable Rate Mortgages? No Thanks!

Look at home purchasers' current appetite for adjustable rate mortgages as compared with historical values.

Now I need my fix!

Thursday, December 18, 2008

FHA Refis Reach New Monthly High for 2008

The number of FHA Refinance Originations reached a new monthly high nationally for 2008 in October. Take a look at the chart below.

Click on the image for a larger view.

I expect this number to be even higher for November with the decreasing rates we have seen for the last month. Do you agree? Share your thoughts.

Tuesday, December 16, 2008

Maricopa County Reaches New Highs

Maricopa County, Arizona reached new monthly highs in originations for FHA and VA in October 2008. This growth helped to continue to strengthen their position as the #1 County by dollar volume year-to-date for FHA and VA.

Click on the image for a larger view of the FHA chart.

Click on the image for a larger view of the VA chart.

Thursday, December 11, 2008

Prince William County Reaches New Monthly High

Prince William County, Virginia reached a new monthly high in FHA originations in October. Take a look at the chart below to see the ever increasing FHA originations.

Click on the image to see a larger view.

To see who is leading in this market - click here!

Tuesday, December 9, 2008

Wells FHA Market Share Rising in Seattle

Wells Fargo's FHA market share reached a new monthly high in Seattle metro for 2008. Wells' market share reached 8.71% in October, they began the year with 3.88% of the market in January 2008. The chart below shows their monthly trend.

Click on the image for a larger view.

Who is paying the price for Wells increased market share? National City is one possibility. Wells Fargo seems to have taken advantage of National City's troubles in this marketplace. National City's market share has declined from 9.87% in January to 2.70% in October. The chart below shows the month by month decline of National City's FHA market share in this market.

Click on this image for a larger view.

Thursday, December 4, 2008

San Antonio FHA Originations Rise in October

The FHA Originations for October reached the highest level of the year in San Antonio, Texas. The chart below shows the monthly trend for 2008.

Click on the image for a larger view.

CTX Mortgage of Dallas, TX is Number 1 in this market. Click here to see the remainder of the Top Ten for January through October 2008.

Riverside County California Shows an Uptick in Home Prices

Is this noise or have we reached a bottom in price declines? One month of price increases is encouraging.

Sales data for Riverside County, CA show the first monthly increase in the median home sale price. The median price of homes sold in October was $245,000. This represents a $5,000 increase in the median home sale price over September which was $240,000. Home prices have been declining steadily in Riverside County. The peak median home sale price in Riverside was $427,000 back in August 2006.

Tuesday, December 2, 2008

Prosperity Mortgage Originations Rise in October

Prosperity Mortgage of Fairfax, VA saw a healthly increase in their FHA Purchase Originations in Virginia for the month of October. Prosperity Mortgage also continues to maintain their healthy market share lead for FHA Correspondent Lenders in Virginia. Click on this link to see the Top 5. See the chart below for Prosperity's trend of FHA originations for January through October 2008.

Click on the image below for a larger view.