New data suggests that 2014 is the prime time to take out jumbo mortgages. This year, jumbo mortgage rates decreased and are now nearly as low as rates for conventional mortgages and in some cases lower. The drop in jumbo mortgage rates is a result of lower economic conditions, according to experts. Also, new federal regulations that were made to conventional mortgages last month do not apply to jumbo mortgages, making them much more popular among buyers who have high net worth or want interest-only loans. More here

Recent data suggests that the economy has declined in certain areas due to the severe winter weather conditions. The National Association of Home Builders has stated that the housing market took a hit this month, decreasing 10 points and averaging 46, the lowest number seen since May of 2013. Kevin Kelly, NAHB Chairman said, “significant weather conditions across most of the country led to a decline in buyer traffic last month, builders also have additional concerns about meeting ongoing and future demand due to a shortage of lots and labor.” More here

According to data released by CoreLogic, completed foreclosures decreased to 45,000 units in December 2013, a 14% fall from the previous year, but still considered high when compared to pre-recession foreclosure rates. The president and chief executive officer of CoreLogic, Anand Nallathambi said, “clearly, 2013 was a transitional year for residential property in the United States. Higher home prices and lower shadow inventory levels, together with a slowly improving economy, are hopeful signals that we are turning a long-awaited corner.” The National Foreclosure Inventory listed 12 states with the lowest foreclosure rates. Wyoming, Alaska, and North Dakota were the top three states with the lowest foreclosure rates. More here

New data from the Zillow Home Price Expectations Survey suggests that housing market demand will decrease over the coming years as large-scale investors run out of inventory. Experts expect the change to help first-time homebuyers and others looking for single-family rentals. Dr. Stan Humphries, Zillow’s Chief Economist said, “buyers entering the market in the next few months will not be competing with cash-rich investors like they were last year which should be some small solace given the higher prices and mortgage rates that they will encounter.” More here

According to new housing market research, baby boomer homeowners may be pushing young homebuyers out of the market. As home values and prices continue to increase, many younger Americans are unable to afford down payments due to low income jobs and school debt. Home builders are now targeting an older generation, age 55 and up, who are more likely to have equity. Older homeowners are expected to help home sales this year as it is a prime time for the age group to buy, according to experts. More here

According to the National Association of Realtors, many metropolitan areas are experiencing strong year-over-year home price increases. The median single-family existing home price jumped in 73% of the measured markets. Approximately 119 metropolitan areas experienced price gains in the fourth quarter of last year when compared to the fourth quarter of 2012. Data states that  26% of metros saw double digit increases, and while this new data is positive, many experts express concern that housing affordability may fall. More here

The housing market has made significant strides toward recovery since the recession, but experts say there is still room for improvement. Home prices have slightly increased according to the S&P Case-Shiller home price index. Sales of existing homes fell from 408,300 last year to 405,800. New home sales have increased from the end of 2012 averaging 33,000. Additionally, delinquency rates and foreclosure starts have also fallen from last year. More here

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 

Reverse mortgage endorsements have picked up speed this year according to Reverse Market Insight. Last month, reverse mortgage volume increased 19.8%, averaging 5,061 loans, the highest average seen since August 2013.  According to data, reverse mortgage activity was significantly down in November and December, and many experts think the boost in endorsements could be due to the recent rule changes made to the program. The New England region saw a 59% increase and the Pacific/ Hawaii region experienced a 27% increase, the largest monthly endorsement volume gains in the nation. More here

Mortgage rates fell this week from last week as new housing data was revealed. The 30-year fixed-rate mortgage averaged approximately 4.23%, down 0.10% from the previous week. The 15-year fixed-rate mortgage averaged 3.33%, down from 3.4% that was reported last week. The vice president and chief economist at Freddie Mac, Frank Nothaft said, “mortgage rates fell further this week following the release of weaker housing data. The pending home sales index fell 8.7% in December to its lowest level since October 2011. Fixed residential investment negatively contributed to GDP in the fourth quarter for the first time since the third quarter of 2010.” Additionally, the 5-year and 1-year Treasury-indexed ARM also fell this week with an average 0.5 point. More here