Category: 2011 Housing Market

Home Sales Surge Higher Showing Recovery

By Kevin Chiu Home sales surged higher in the last month of the year as buyers took advantage of near record low mortgage rates despite the holiday season, according to the National Association of Realtors. The existing sales of single family homes, townhouses and condominiums rose 12.3%, the fifth increase in the last six months.… Continue reading Home Sales Surge Higher Showing Recovery

Neither Best nor Worst in California

By Mike Colpitts Long viewed as the national leader in real estate and hundreds of other dizzying trends and fads, California neither made the annual Best or Worst 25 Housing Predictor market lists for 2011. It was the first time in the index’s six year history that a Golden State market failed to make the… Continue reading Neither Best nor Worst in California

Refinancing Shows Third Straight Weekly Rise

By Kevin Chiu Refinancing applications rose for the third straight week in a row as interest rates took a slight decline, according to the Mortgage Bankers Association. The refinance index rose 7.7% for the week ending January 14 th, as refinances rise to the highest level since before the holiday season in early December. The… Continue reading Refinancing Shows Third Straight Weekly Rise

Housing Recovery Develops

By Mike Colpitts Anchored by stronger economic growth in northern tier states with higher production in farming and energy, a housing recovery is slowly developing that is already broadening into portions of the mid-west. Three of the nation’s lowest populated states, Wyoming, North Dakota and South Dakota had little to do with the real estate… Continue reading Housing Recovery Develops

Foreclosures Set New Record in 2010 as Repossessions Ease

By Kevin Chiu Nearly 2.9 million U.S. residential properties received foreclosure filings in 2010 setting a new record in the nation’s foreclosure crisis even as homeowner foreclosures eased as a result of the robo-signing scandal, according to RealtyTrac. All combined default notices, scheduled auctions and formal bank repossession notices totaled 3,825,637 filings for the year.… Continue reading Foreclosures Set New Record in 2010 as Repossessions Ease

Mortgage Purchases Move Higher on Lower Rates

By Mike Colpitts Applications for home mortgages increased slightly for the week, indicating that home buying activity is increasing in the New Year, according to the Mortgage Bankers Association. The bankers composite index, which includes both applications for home mortgages and refinances showed a 2.2% rise for the week. However, on an unadjusted basis, when… Continue reading Mortgage Purchases Move Higher on Lower Rates

Mortgage Rates Rise as Buyers Jump

By Mike Colpitts Mortgage rates rose to the highest level since last May as home buyers jumped back into the market, according to Freddie Mac. The rate on a 30-year fixed rate mortgage rose to 4.86%, a .05 move up for the week. The National Association of Realtors pending home index rose 3.5% in November… Continue reading Mortgage Rates Rise as Buyers Jump