Market Studies

Sales of single-family homes and condominiums in Connecticut fell by double-digit percentages in April, according to a new report released today by the New England real estate research firm The Warren Group.

According to the D.C.-based nonprofit homeownership research and advocacy group the Center for Responsible Lending (CRL), a dismal milestone was reached over the weekend – the organization says one million new foreclosures have been filed so far in 2009.

HOPE NOW announced this week that 270,000 homeowner solutions were completed in April. This is the largest number of workouts in any month since HOPE NOW began to compile data. Last month, HOPE NOW members and the mortgage lending industry modified 127,000 mortgages and completed 143,000 repayment plans.

Existing-home sales rose in April with strong buyer activity in lower price ranges and distressed real estate, according to a new report released this week by the National Association of Realtors (NAR).

Sales of single-family homes and condos in Massachusetts fell by double-digit percentages in April, according to a report released this week by Boston-based real estate research firm The Warren Group. Median property values in the state also continued to decline in April, but not as sharply as in recent months.

As more people struggle to pay their mortgages, large and small banks alike have taken the hit. The FDIC reported on Wednesday that 305 banks have made the agency’s high-risk list, and more are expected as the recession and housing crisis continue.

Foreclosures and mortgage delinquencies are still mounting and will continue to rise until the first quarter of 2011, driven primarily by increasing job losses, according to a new report issued by the Mortgage Bankers Association (MBA) on Thursday.

Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS) on Thursday, which shows that interest rates increased across the board this week. According to Freddie Mac’s VP and chief economist Frank Nothaft, mortgage rates followed long-term bond yields higher, with only the one-year adjustable-rate mortgage coming in lower than it was last week.

Data through March 2009 , released Tuesday by Standard & Poor’s , show the U.S. National Home Price Index continues to set record declines, a trend that began in late 2007 and prevailed throughout 2008.

The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey on Wednesday, which revealed a decline in refinance activity last week. Although the drop in refinancings pulled the total number of home loan requests down significantly, the association noted that purchase applications are holding steady.