By Mike Colpitts Despite yields being paid to investors on U.S. Treasury bonds rising, mortgage rates dropped for the eighth straight week to another historic all-time low. The rate on a fixed 30-year mortgage fell to an incredible average of 3.67%, down from last week when it averaged 3.75%, according to Freddie Mac. The 30-year… Continue reading Mortgage Rates Make Incredible Drop
Category: 2012 Housing Market
Research Firm Says Real Estate Stabilizing
By Mike Colpitts Almost six years after the U.S. housing market began its collapse, one of the nation’s largest real estate research firms says the housing market is making strides towards stabilizing and may be close to a bottom of the market. CoreLogic analysts say the U.S. housing market “is transitioning to more stability in… Continue reading Research Firm Says Real Estate Stabilizing
Mortgage Rates Dip to New Record Lows
By Mike Colpitts For the second consecutive week, worries over the U.S. economy and the European debt crisis sent financial markets and Treasury bonds lower. The drop in Treasury yields directly sent mortgage rates to new all-time record lows. The 30-year fixed rate loan hit 3.83%, according to Freddie Mac. The 30-year fixed mortgage has… Continue reading Mortgage Rates Dip to New Record Lows
Survey Shows Time to Buy Real Estate
A large majority of respondents to a new Housing Predictor survey say now is the time to buy real estate, despite uncertainty over the U.S. economy. Nearly two-out-of-three surveyed said it’s time to buy a home or other real estate now. Only 38% said the current economic environment makes it too risky to take the… Continue reading Survey Shows Time to Buy Real Estate
Owner Financing Grows in Popularity
By Mike Colpitts Faced with a tight mortgage market, owner financing is growing in popularity as more homeowners market their homes to benefit new owners. But misconceptions over the easy availability of homes financed by their current owners keep many wannabe buyers from making home purchases. U.S. banks offer mortgages under tightly regulated criteria to… Continue reading Owner Financing Grows in Popularity
Former Homeowners Not Applying for Aid
By Mike Colpitts More than 4-million former homeowners whose homes may have been foreclosed illegally by the nation’s largest banks have received letters from the U.S. government asking them if they would like their foreclosures to be reviewed. But so disillusioned by the banking industry and their own situations, the over-whelming majority have failed to… Continue reading Former Homeowners Not Applying for Aid
U.S. Treasury Bonds Extend Record Low Mortgage Rates
By Mike Colpitts Treasury bonds recovered slightly Monday after reaching all-time record lows, sending mortgage rates to record low levels. The recovery, however, does little to boost sentiment over the U.S. economy, which could be damaged from contagion in Europe. Worries over the Greek debt crisis and economic turmoil other places in the Euro-zone trouble… Continue reading U.S. Treasury Bonds Extend Record Low Mortgage Rates
‘Psycho Character’ Commits Home Foreclosure Scam
By Mike Colpitts Millions of homeowners are suffering through foreclosures, but this guy takes the CAKE! It’s right out of the classic Alfred Hitchcock horror movie Psycho. In a truth is stranger than fiction tail, a Brooklyn man dressed up as his dead mother and “channeled her” to commit real estate fraud in an effort… Continue reading ‘Psycho Character’ Commits Home Foreclosure Scam
Bank of America Increases Short Sale Payments
By Ryan Jackson Bank of America, which has performed more foreclosures than any other single U.S. lender is raising the amount of money it pays delinquent homeowners to agree to a short sale. The program will pay any where from $2,500 to $30,000 in relocation assistance to qualifying mortgage holders. The program is hoped to… Continue reading Bank of America Increases Short Sale Payments
Home Sales Jump in April
By Mike Colpitts Existing home sales jumped for the first time in three months in April, rising 3.4% to a seasonally adjusted rate of 4.62 million units, and are 10% higher than a year ago, according to the National Association of Realtors. Home prices also showed some improvement. However, homes listed on the market for… Continue reading Home Sales Jump in April