Market Studies

Single-family home prices in Rhode Island during the month of January fell to the lowest level in about seven years, according to a report released today from The Warren Group. The Warren Group, which provides real estate research for the New England region, said the median selling price for single-family homes in Rhode Island in January fell 23.

According to government officials, the economy contracted at an alarming 6.2 percent during the last quarter of 2008 — the worst showing in 26 years. The Commerce Department released the revised gross domestic product (GDP) number on Friday, showing that the national economy deteriorated much faster than the 3.

Sales of single-family homes and condominiums in Connecticut plummeted more than 35 percent in January from a year earlier, according to a report released this week by The Warren Group, publisher of The Commercial Record and a provider of real estate data throughout the New England area.

Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) for the week ending February 26, 2009, showing little change in mortgage rates this week with only slight upticks in three of the four categories of loan products analyzed.

Existing-home sales declined in January with some buyers waiting to see how details of the economic stimulus package would affect them, according to a new report released on Wednesday by the National Association of Realtors (NAR).

Lender Processing Services, Inc. (LPS), a provider of integrated technology and services to the mortgage industry, has released its February 2009 LPS Mortgage Monitor. Among the findings, LPS reports that foreclosure starts have continued to increase across major product types over the past several months despite moratoria and mitigation.

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 20, 2009. The Market Composite Index, a measure of mortgage loan application volume, dropped 15.

Data through December 2008, released on Tuesday by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices (HPI), show that the prices of existing single family homes across the United States continue to set record declines, a trend that prevailed throughout all of 2007 and 2008.

Minneapolis-based Wolters Kluwer Financial Services recently announced that two members of its compliance management services team have earned the prestigious Certified Regulatory Compliance Manager (CRCM) designation from the American Bankers Association’s (ABA’s) Institute of Certified Bankers (ICB).

Home prices in the United States posted record declines in the fourth quarter of 2008, according to the Federal Housing Finance Agency’s (FHFA’s) House Price Index (HPI). The agency’s purchase-only HPI, based on data from home sales, was 3.