According to research, approximately 8% of individuals age 62 and above have thought about the possibility of a reverse mortgage while only 2% secured the loan. The survey suggests that many homeowners have had trouble dealing with long-term debt after the housing market crash, and reverse mortgages may be of great assistance to many people. An increase in the number of people with mortgage debt has grown over the last decade. Many experts are suggesting that seniors seek financial help in order to decrease debt among the age group. More here

Freddie Mac’s Primary Mortgage Market Survey states that mortgage rates fell this week after 2 weeks of sustained rates. According to the report, the average 30-year fixed-rate mortgage fell to 4.22%, down from last week’s average of 4.35%. The Vice President of Freddie Mac, Frank Nothaft said, “fixed mortgage rates fell this week on reports of weaker manufacturing growth and declines in overall inflation rates.” Nothaft also stated that industrial production also decreased more than experts forecasted. More here

Lowe’s, a home improvement retail store, reported a jump in earnings last quarter showing signs that the housing market is still making strides towards recovery. The report showed a 26% increase in earnings, and experts say the rise is due to new home construction and many consumers being able to set aside extra money for home improvements. Robert A. Niblock, Lowe’s Chief Executive said, “the home improvement industry is poised for persisting growth in the fourth quarter and further acceleration in 2014.” More here

According to Freddie Mac, the average 30-year fixed-rate loan has increased to 4.35%, up .19% from last week, and the highest level since mid-September. The average 15-year fixed-rate mortgage also jumped, averaging 3.35%, up .8% from the previous week. Additionally, a government report stated that 204,000 jobs were added to the market in October. More here

According to the National Association of Home Builders/Wells Fargo Housing Market Index, home-builder confidence has not budged, remaining at a level of 54 this month. November is the 6th month in a row that home builders have agreed that the present conditions in the housing market are good. If levels exceed 50 or above they are considered positive. The Chairman of the NAHB, Rick Judson said, “given the current interest rate and pricing environment, consumers continue to show interest in purchasing new homes, but are holding back because Congress keeps pushing critical decisions on budget, tax and government spending issues down the road.” More here

According to new data, declining inventory may be helping to push more buyers to buy, increasing the amount of home sales across the nation. In September, homes listed on Zillow spent an average of 30 days less on the market than in September 2012. Chief Economist at Zillow, Dr. Stan Humphries said, “the declining inventory of for-sale homes over the past year naturally creates pressure for buyers to more quickly snap up the inventory that is on the market. This demand has been fueled by huge resets in home prices since market peak, historically low mortgage rates and a slowly improving broader economic climate.” Additionally, the states of California and Texas had the fastest moving housing markets nationally in September. More here

30-year fixed-rate mortgage hit the highest levels since September, averaging approximately 4.35%, and have jumped .19% from last week according to Freddie Mac’s Primary Mortgage Market Survey. Fixed-rate mortgages overall have increased for the second consecutive week, while the U.S. economy has also shown signs of growth over the last few weeks. 15-year fixed-rate mortgages jumped 0.8% from last week averaging 3.35% up from 2.65%. More here

Coldwell Banker’s annual home listing report was released showing the most expensive places to buy real estate in the country. According to the report, the state of California has the most expensive real estate, and the prices do not seem to decrease the high demand in that part of the country. On average, the median price for a home in certain areas of California ranged from $300,000 all the way up into the millions. More here

According to recent data released by the National Association of Home Builders, builder confidence has increased in the 55-and-up housing market. Experts say that the single family housing market demand has grown considerably with the help of senior citizens, jumping 14 points, averaging a level of 50 in the single-family index. The chairman of NAHB’s 50+ Housing Council, Robert Karen said, “we have seen steady improvement in the 55+ housing sector as buyers and renters are attracted to new homes and communities that offer the lifestyle they desire.” More here

According to the National Association of Realtors, home sales and prices are expected to continue to rise over the next year as mortgage rates increase. Many experts are worried that the increase will cause housing affordability to decrease. Home prices have been forecasted to jump 6% next year, and mortgage rates are expected to increase to an average of 5.4% by the close of 2014. Additionally, the NAR says that housing starts need to pick up about 50% in order to satisfy high demands. More here