Market Data

RealtyTrac reported that foreclosure filings inched up 2 percent in May from April, but is still down 28 percent year over year. The monthly increase in overall foreclosure activity was caused largely by an 11 percent month-over-month increase in bank repossessions (REOs), although REO activity was still down 29 percent from a year ago.

Mortgage applications increased 5 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending June 7.  Last week’s results included an adjustment for the Memorial Day holiday.

The April Mortgage Monitor report released by Lender Processing Services found that the rate of foreclosure sales in judicial foreclosure states hit its highest point since 2010. However, the length of time that process is taking — as well as the disparity in foreclosure timelines between judicial and non-judicial states — continues to grow.

As the remaining entities in the title industry reap the rewards of surviving the downturn, the obvious questions become how strong will this recovery be? Contributor Paul D. Osborne, senior financial analyst at Demotech Inc., takes a look at the significant improvements in the title underwriting data and asks if the problems that contributed to the bubble been rectified, or will the cheap money available contribute to the forming of a new bubble? Will the economy support a sustained housing recovery or ...

Mortgage applications decreased 11.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 31. Refinance applications and the share of refinances both hit their lowest point since 2011.

Demotech, Inc. has affirmed the Financial Stability Ratings assigned to title underwriters based on its review of first quarter 2013 statutory financial information. All FSRs were affirmed, there were no upgrades or downgrades.

Sales of newly built, single-family homes rose 2.3 percent to a seasonally adjusted annual rate of 454,000 units in April, according to newly released figures from HUD and the U.S. Census Bureau. The gain builds on a strong upward revision to sales numbers reported for the previous month.

The CoreLogic Case-Shiller Indexes estimate that home prices increased by 7.3 percent in 2012, the strongest rate of appreciation in nearly seven years. The analysis also projected that the trend of rising home prices will continue in 2013 and beyond. In the five-year period from the fourth quarter of 2012 to the fourth quarter of 2017, home prices are expected to rise at an annualized rate of 3.9 percent.

RealtyTrac housing market analysis of building permit data recently released by the U.S. Department of Housing and Urban Development for the first quarter and compared it to foreclosure starts for the same time period at the national, state and city level. According to the company, the results suggest a shift of the market.

First American, Old Republic and Investors Title all recently declared quarterly dividends. Read on for the round-up of announcement.