The surf meets the sand in the heat of summer. Whether this is the year to buy that beach vacation home or not is another thing. If you’reconsidering the plunge, these are the best 5 beach home bargain cities to buy a foreclosure home or condo. Foreclosure News Report ranked U.S. metro areas across the… Continue reading 5 Best Beach Vacation Home Bargain Cities
Category: 2012 Housing Market
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
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
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
Mortgage Rates Resume Drop
By Mike Colpitts After rising last week, mortgage rates dropped again to near a new low average hitting 3.66% on the 30-year fixed rate loan, a five basis point decline from a week ago, according to Freddie Mac. The 15-year loan also fell. The shorter term mortgage and the 30-year loan have been at or… Continue reading Mortgage Rates Resume Drop
Refinancing Hits New Record High
By Mike Colpitts Led by record low FHA mortgage rates, refinancing surged last week to a new all-time record high on government backed loans as consumers poured into lenders offices to take advantage of lower rates. The Mortgage Bankers refinance index rose just one percent from the prior week, but made up 81% of U.S.… Continue reading Refinancing Hits New Record High
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
Home Builders Confidence Reaches 5 Year High
By Ryan Jackson Home builder confidence rose to the highest point in nearly five years in June as builder sentiment grew with an increase in walk-in traffic. The National Association of Home Builders Index reached 32, hitting its highest level since the housing downturn started in May of 2007. The components measuring sales expectations in… Continue reading Home Builders Confidence Reaches 5 Year High
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
Watch Dog to Audit Freddie Mac & Fannie Mae
By Mike Colpitts The chief U.S. government watch dog, the Office of Inspector General, will conduct a full audit of Freddie Mac and Fannie Mae’s procedures to sell-off foreclosures. The announcement was included in a government white paper released without fanfare last week. The nation’s mortgage giants have been bailed out by tax payers in… Continue reading Watch Dog to Audit Freddie Mac & Fannie Mae