Category: 2011 Housing Market

Mortgage Rates Hit New Lows

By Mike Colpitts Lower rates paid for U.S. Treasury bonds sent mortgage rates to their lowest levels in more than two months, driving the fixed 30-year mortgage to reach its lowest level in history since early October, and the 15-year fixed loan to another record low, according to Freddie Mac. The 30-year loan averaged 3.94%… Continue reading Mortgage Rates Hit New Lows

How to Avoid Being Ripped Off by Mortgage Companies

By Kevin Chiu A new mortgage website is offering homeowners and first time home buyers the opportunity to ask questions and “get truthful, unbiased and easy to understand” answers to avoid being ripped off by mortgage companies. The concept is the brain-child of Yale Roth, a former school teacher who has been making loans for… Continue reading How to Avoid Being Ripped Off by Mortgage Companies

Mortgage Rates Set New Record Low

By Mike Colpitts Mortgage rates set a new record low hitting an average of 3.91% on a fixed 30-year loan, according to Freddie Mac. Rates on the shorter term 15-year fixed mortgage remained at the same record level as last week. Rates on the benchmark 30-year mortgage have been at or below 4.00% for eight… Continue reading Mortgage Rates Set New Record Low

Mortgages Drop As Homeowners Await New Refinancing Program

By Kevin Chiu Mortgage applications dropped for the third straight week as homeowners waited for the new Obama administration refinancing program to go into effect, according to the Mortgage Bankers Association. Applications slowed by nearly 12% from one week earlier. The drop-off in activity was also led by a slowdown caused by the Thanksgiving Holiday,… Continue reading Mortgages Drop As Homeowners Await New Refinancing Program

Lowest Mortgage Rates of Year Arrive

By Kevin Chiu The lowest mortgage rates of the year arrived in time for New Year’s, according to the Mortgage Bankers Association survey. However, despite the drop, mortgage refinances and mortgages for home purchases slipped for the week. The drop in applications was attributed to the traditional holiday slowdown caused by Christmas and New Years,… Continue reading Lowest Mortgage Rates of Year Arrive

Homeowner Insurance Guide

By Erika Stewart Home insurance is important to insure that property is protected in the event of emergencies like natural disasters, fires, and even over liability issues like a friend or visitor falling and hurting themselves. Having homeowner insurance protects not only the home but its occupants and their possessions. However, not all home insurance… Continue reading Homeowner Insurance Guide

Index Shows Housing Prices Decline

By Mike Colpitts Housing prices declined an average of 3.9% through the end of October on a year over year basis, according to the CoreLogic housing price index. The index shows that home values have dropped for three straight months, and are especially hard hit in five states. Nevada has led the nation in foreclosures… Continue reading Index Shows Housing Prices Decline

Underwater Mortgages Drop Slightly

By Mike Colpitts Homeowners with underwater mortgages or those who owe more on their homes than their properties are currently worth dropped in the third quarter in the U.S., according to real estate data firm CoreLogic. The decline, however, was marginal falling to 10.7-million residential homeowners, which is 200,000 less than the second quarter of… Continue reading Underwater Mortgages Drop Slightly

Home Inventory Drops to 4-Year Low

By Mike Colpitts Homes listed for sale on the market dropped for the fifth consecutive month, hitting the lowest level in four years. The drop is a positive sign for the housing market, which has seen more home sales in recent months to aid the struggling market. Housing inventory at the end of October dropped… Continue reading Home Inventory Drops to 4-Year Low