Category: 2012 Housing Market

Home Buyer Traffic Tumbles

By Mike Colpitts Home buyer foot traffic in new housing developments tumbled in May, indicating future home sales are expected to weaken, according to the latest Campbell-Inside Mortgage Finance survey. The closely watched index fell from 51.6 in April to 44.8 in May demonstrating major weakness in new home sales are expected in coming months,… Continue reading Home Buyer Traffic Tumbles

70 US Cities Forecast with Higher Home Prices

By Mike Colpitts Nearly mid-way through the year 70 U.S. cities housing markets are forecast to recover in 2012, and some of them are already making successful inroads on their way with appreciating home prices. The cities include five that were forecast by Housing Predictor at the beginning of the year to appreciate in value,… Continue reading 70 US Cities Forecast with Higher Home Prices

Mortgage Rates Hold Steady at Record Lows

By Mike Colpitts Mortgage rates held steady to maintain record low levels, with the 30-year fixed rate mortgage staying at an average of 3.66% for the second week in a row, according to Freddie Mac. The shorter term 15-year fixed loan slipped a single basis point to 2.94%. Many consumers refinancing homes are opting for… Continue reading Mortgage Rates Hold Steady at Record Lows

Home Sales Extend 11 Month Growth Rate

By Mike Colpitts Despite a decline in existing home sales in May, the actual number of residential sales increased for 11 straight months compared to a year earlier. The dynamic adds fuel to the U.S. housing market recovery as consumers hoping to make home purchases during the summer take advantage of near record low mortgage… Continue reading Home Sales Extend 11 Month Growth Rate

Mortgages Slow on Refinance Pause

By Mike Colpitts Led by a slowdown in refinancing, mortgage applications slowed last week, despite near record low interest rates as consumers pulled back from trying to obtain cheaper loan payments. Refinancing slowed by 8.0% from the previous week, according to the Mortgage Bankers Association. The refinance share of mortgage activity also fell to 79%… Continue reading Mortgages Slow on Refinance Pause

US Government Moves to Prevent Mortgage Fraud

By Mike Colpitts In an unprecedented move, the agency charged with overseeing the nation’s giant mortgage lenders is taking steps to halt mortgage fraud by the lenders it deals with. The action, by the Federal Housing Finance Agency, is the first of its kind since the financial crisis threw the U.S. economy into chaos. The… Continue reading US Government Moves to Prevent Mortgage Fraud

Research Firms Agree Home Prices Are Rising

By Mike Colpitts In a major positive sign for the U.S. housing market, the two largest real estate research firms tracking the market agree that average home prices have increased for the first time since the real estate collapse more than five years ago. California based CoreLogic and Florida based Lender Processing Services say home… Continue reading Research Firms Agree Home Prices Are Rising

Another Small Step for Housing as Mortgage Rates Fall

By Mike Colpitts The U.S. housing market is taking one small step forward at a time. Little by little it is improving. The Mortgage Bankers Association report added to the chorus of reports indicating the small steps forward with its mortgage applications survey today, which showed a small increase in applications for mortgages last week.… Continue reading Another Small Step for Housing as Mortgage Rates Fall