Tag Archives: CoreLogic

According to CoreLogic's data, shorter-term refinances (those with lifespans of less than 30 years) accounted for nearly 40 percent of market share in 2013, a vast leap from less than 14 percent in 2006. Of that total, 15-year loan terms contributed 27.3 percentage points, more than tripling in market share since 2007. However, with rates slowly but steadily climbing, the popularity of shorter-term refinances may be short-lived.

In Pennsylvania, Global DMS announced the integration of its eTrac Enterprise platform with the CoreLogic ChannelMaster Enterprise Lending Solution (ELS).

According to CoreLogic's latest Home Price Index report, home prices nationwide rose 12.2 percent (including distressed sales) in February compared to the year prior. The change represents 24 months of consecutive yearly gains. On a monthly basis, home prices inched up 0.8 percent from January’s revised index. Moving forward, CoreLogic says indicators point to slower increases.

In a blog post, CoreLogic's Mark Fleming notes that as of the most recent numbers, mortgage applications are down 54 percent compared to a year ago, with much of that decline stemming from a plunge in refinances (down 65 percent year-on-year). However, while rising interest rates have removed some of the incentive homeowners had to move or refinance, improving home prices have created a greater space for home equity loans. "This is good news for the home improvement industry and mortgage lenders who focus on home equity lending, as both will benefit from the resurgent consumer demand," he said.

As of the end of 2013, CoreLogic estimates the number of mortgaged residential properties with equity totaled about 42.7 million, representing a share of about 86.7 percent. Due to a slowdown in the quarterly growth rate of the company's Home Price Index, the share of homes with equity versus underwater homes was mostly unchanged from Q3 to Q4.

CoreLogic’s Home Price Index (HPI) for January came out 12 percent ahead of last year’s report, marking the 23rd straight month of annual improvements. At the state level, Louisiana, Nebraska, and Texas each surpassed their respective price peaks in January. In all, CoreLogic reports 22 states and the District of Columbia are either at or within 10 percent of their peak home price appreciation.

Yes, affordability (as measured by the National Association of Realtors' Housing Affordability Index) is down as much as 22 percent from its January 2013 peak, but is still far higher than it was in the early 2000s, says CoreLogic chief economist Mark Fleming in the company's February MarketPulse report. Moreover, Fleming notes the problem of "unaffordable housing" is one that only really exists for first-time homebuyers.

CoreLogic's Home Price Index jumped 11 percent year-over-year in December, the company revealed in its newest report.

CoreLogic's Home Price Index (HPI) improved year-on-year for the 21st straight month in November, setting 2013 up to be the best year for home price gains since before the crash. According to the company's index, home prices nationwide (including distressed sales) increased 11.8 percent in November compared to the year prior. On a monthly basis, prices moved more or less sideways, coming up an estimated 0.1 percent from October's revised numbers.

Nearly 800,000 homes returned to a state of positive equity during the third quarter--leaving about 6.4 million underwater, according to the latest data from CoreLogic. The numbers indicate a little more complexity in the market, however. Of the 42.6 million residential properties in positive equity, CoreLogic estimates 10 million have less than 20 percent equity, and more than 1.5 million are at less than 5 percent equity. These "under-equitied" borrowers are at risk of falling back under should prices fall.