According to Fitch Ratings’ annual U.S. CMBS loan default study, commercial mortgage backed securitization defaults fell for the fourth year in a row, decreasing to the lowest level seen in six years. The study found that apartment availability is also declining, causing rent to jump in many areas. The national apartment vacancy rate fell .03% from 2012, averaging 4.2%. A Fitch expert said, “significant amounts of new supply are beginning to come online in many markets, which could temper additional rent growth and drive up vacancy. Demographic trends continue to favor a strong rental housing market with a growing population of young Americans, who traditionally rent. Fitch expects multifamily defaults in legacy CMBS to stabilize near current levels.” More here

Reverse mortgage and elder law experts are saying that many children of parents who are considering a reverse mortgage are openly opposed to the idea, and influence their parents to decline the option. Experts say it is logical for children to be concerned with their inheritance, but many older adults have no other financial option. It is advised that parents, who choose to involve their children, educate them thoroughly about reverse mortgages. Elder law attorney, Deborah S. Ball suggests that when children are completely informed about reverse mortgages, they are more likely to support the decision. Morehere

According to the latest Primary Mortgage Market Survey released by Freddie Mac, mortgage rates have fallen slightly. The national average 30-year fixed-rate mortgage fell 0.7% from last week, averaging 4.34% this week. The national average 15-year, fixed-rate mortgage decreased 0.9% from last week, averaging 3.38%. Additionally, the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.09%, and the 1-year Treasury-index ARM came in at 2.41%.  Frank Nothaft, the vice president and chief economist at Freddie Mac said, “mortgage rates eased a bit following the decline in 10-year Treasury yields. Also, the economy added 192,000 jobs in March, which was below the market consensus forecast, but followed an upward revision of 22,000 jobs in February. Meanwhile, the unemployment rate held steady at 6.7 percent.” More here

Average fixed-rate mortgages declined this week in the United States, according to Freddie Mac. The national average 30-year loan decreased 0.7% averaging 4.34% while the national average 15-year mortgage fell 0.9% averaging 3.38%.  Home prices are expected to rise by single digits this year, and inventory may fall after the spring buying season. Experts suggest that low inventory rates and rising prices may slightly hurt the market, but expect positive results as long as mortgage rates remain low. More here

Housing market inventory has increased for the first time in four years, and home prices continue to rise. A new report found that the median price per square foot jumped 7.1% from March 2013, and increased 23.2% from 2012. Many markets are experiencing a year-over-year median list per square foot price increase. Inventory is on the rise and has increased considerably since last year, though still remains 40% below March 2010. More here