According to the 30th annual ARM Survey released by Freddie Mac, ARM initial-period rates have jumped from the previous year but are still considered historically low. Adjustable-rate mortgages have grown more popular as rates on 30-year fixed-rate mortgages have become higher. The Vice President of Freddie Mac, Frank Nothaft said, “homebuyers have preferred fixed-rate mortgages the past few years because of the low interest rates and the certainty of the monthly principal and interest payment.” More here

Previously owned home sales jumped last month for the first time in approximately five months, making 2013 the best year for home sales since 2006. Data suggests that the housing market is beginning to adjust to higher borrowing costs. According to the National Association of Realtors, purchases increased 1%, averaging a 4.87 million annual pace. Employment growth is also on the rise giving more buyers confidence to buy a home. More here

Boston College for Retirement Research found through a recent study that many older Americans are deciding to work longer and put off retirement due to large debt, particularly caused by mortgages. For those Americans who cannot continue to work because of disability or health problems, experts say that reverse mortgages may be a financial lifesaver. Researchers, Barbara Butrica and Nadia Karamcheva said, “Americans’ indebtedness has increased dramatically since the 1980s—a trend likely to have important implications for retirement security, not only does the presence of debt influence older adults’ behavior, but so do the amount and type of debt—particularly outstanding mortgages.” According to experts the three main options senior Americans have to help decrease debt by mortgage are to sell the home, declare bankruptcy or apply for a reverse mortgage. More here

American unemployment benefit claims increased marginally last week, but experts say that the labor market is continuing to improve. According to the Labor Department, initial state claims slightly increased to a seasonally adjusted rate of 326,000. The claims report covered the January payroll period excluding farm payroll, and found that claims decreased 12,250 between the months of December and January. Experts say this data suggests job creation and growth will accelerate throughout the remainder of the month. More here

According to newly released data, U.S. home prices increased from November to December by 0.3% and 8.5% from one year prior. The average November home price was up approximately $18,000 from November 2012, averaging $232,000. The state of Florida led the U.S. in monthly home price increases while Las Vegas home prices jumped almost 24% from the end of 2012. Colorado and Texas also showed annual home price gains. Additionally, national U.S. home prices averaged 13.9%. More here