Mortgage applications in the United States have continued to increase. Last week, The Mortgage Bankers Association stated that their seasonally adjusted index of mortgage application activity jumped 0.4%, averaging 405.2 in the last week of January.  Interest rates have also fallen with the 30-year mortgage averaging approximately 4.47%. Additionally, the MBA’s seasonally adjusted index of refinancing applications increased 2.9%. More here 

House flipping jumped last year, averaging a 16% increase from 2012, and a significant 114% jump from 2011 according to RealtyTrac’s year-end 2013 Home Flipping Report. Last year 156,862 homes were purchased, flipped and sold within a six month time frame. Data shows that the average house flipping gross profit in 2013 was approximately $58,081, almost a $13,000 gain from 2012. Daren Blomquist, vice president of RealtyTrac said, “strong home price appreciation in many markets boosted profits for flippers in 2013 despite a shrinking inventory of lower-priced foreclosure homes to purchase. For the year, 21% of all properties flipped were purchased out of foreclosure, but that is down from 27% in 2012 and 32% in 2011.” More here

According to new data released by the National Reverse Mortgage Lenders Association and Riskspan, home equity among seniors has improved over the last few years, and hit a five-year high in the third quarter of last year. Total home equity among seniors jumped 3.4%, averaging $3.46 trillion and increasing 165.7 points on the NRMLA/Riskspan Reverse Mortgage Market Index, which measures home equity among individuals who qualify for reverse mortgages. Home values continue to increase throughout the U.S., with values up in 72% of the nation’s metropolitan statistical areas. More here

Foreclosure sales and short sales made up approximately 16.2% of residential sales in the United States last year, according to RealtyTrac’s 2013 U.S. Residential and Foreclosure Sales Report. That percentage is up 14.5% from 2012, and up 15.2% from what was reported in 2011. Foreclosure activity has been decreasing, falling to a seven-year low last year. Experts say that these sales are due to foreclosures during the recession that are just now getting off of the market. Daren Blomquist, RealtyTrac Vice President said, “it may surprise some to see distressed sales rising in 2013, given that new foreclosure activity dropped to a seven-year low, Why? Most of the increases in 2013 are recession-era foreclosures still in the system. Banks are repossessing more homes as higher prices are making it easier for them to sell, he says, but the recovery has strengthened most local markets enough to withstand blows from these nagging foreclosures.” More here

Mortgages costs fell this week, and according to data from Fannie Mae, Freddie Mac, and Ginne Mae, it could be due to a recent increase in agency mortgage bonds last week. Experts say that bond values are ascending due to the falling long-term Treasury rates, helping the cost of mortgages to decline. Sterne Agee analyst, Henry Coffey said, “the expected gains in agency bond values and related boost in book values should show up in the March period if treasury rates remain low and bond values hold at current levels.” More here