Mortgage Market News

Inside Mortgage Finance recently reported that the home loan market has experienced its worst first quarter in since 2000. In January, February and March of this year, mortgage originations amounted to $192 billion, down 26% from the fourth quarter of 2013 and down 60% from the first quarter of 2013. Higher home loan rates, tighter credit and declining inventories are some of the reasons behind the slowdown.
Americans across the nation who have been unemployed for longer than six months are finding it harder and harder to get full-time work . Recent finding from Princeton University revealed that only 11% of the long-term unemployed find permanent, full-time work a year later. Most will find unsteady work, with 14% finding part-time work and 11% landing temporary work.
Prices at the pump continue to rise as the spring driving season gets underway and leads to the big kick-off weekend with Memorial Day at the end of May. The national average price for a regular gallon of gasoline is at $3.61, the highest price since late July 2013, but 4 cents under its year ago point. Gasbuddy recently reported that prices could top out at $3.65 a gallon in the next few weeks
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