Mortgage Rates Hit New Record Low

Mortgage rates fell to a new record low for the week, hitting 4.17% on a fixed 30-year mortgage, according to Freddie Mac. The FHA says it’s the lowest rate on record since 1951. Rates dropped as a result of the Fed announcing that it will purchase $600 billion in U.S. treasuries in a second round… Continue reading Mortgage Rates Hit New Record Low

Purchase and Refinance Loan Applications Rise

Pushed by near record low mortgage rates, applications for home purchases and refinances made a solid rise for the week, indicating more home buying activity than many analysts thought was developing, according to the Mortgage Bankers Association. The composite index, a combination of both refinancing and home mortgage applications rose 5.4% for the week. Purchase… Continue reading Purchase and Refinance Loan Applications Rise

Bank Lending Projected to Improve

By Kevin Chiu Bank lending should improve in commercial real estate in the next year, positioning U.S. investment property to deliver attractive returns once again, according to a leading independent non-profit real estate and education organization. Stephen Blank, Urban Land Institute’s fellow for real estate finance says that mortgage financing should finally begin to show… Continue reading Bank Lending Projected to Improve

First Housing Markets Likely to Recover

By Mike Colpitts When it comes to housing markets that are the most likely to recover first, the key ingredient above any other is jobs. Unemployment has been the highest it has been for two years in decades and the political football surrounding employment is the most heated topic today. Despite higher profits for employers,… Continue reading First Housing Markets Likely to Recover

Homeownership Falls to Decades Low

By Kevin Chiu Homeownership has fallen to 66.9%, the lowest level on record in more than a decade, according to the U.S. Census Bureau as a result of rising foreclosures and mortgage holders walking away from loans they can no longer afford. The same annual study found that there were 1.9-million vacant homes listed for… Continue reading Homeownership Falls to Decades Low

Poll Shows Home Prices to Rise

Home prices are expected to rise in the next one to four years by a large majority of Americans, according to a new Housing Predictor survey. The opinion poll found that nearly two out of three respondents feel that housing prices will start to go up within one to four years. The online poll shows… Continue reading Poll Shows Home Prices to Rise

Homes Sales Decline Amid Deeper Economic Worries

By Mike Colpitts Home sales declined sharply in July after the expiration of the home buyer tax credit, falling 27.2% to the lowest level in 15 years, according to the National Association of Realtors. The fall in existing sales was widely anticipated among real estate analysts, who expect deeper economic worries as a result of… Continue reading Homes Sales Decline Amid Deeper Economic Worries

Tax Credit Again, Poll Says

Nearly a majority of respondents to the latest Housing Predictor poll want the federal government to re-institute the federal tax credit for buyers to re-energize the housing market, which has been in as long as a five year downturn in some parts of the country. The new survey found that 48% of all those polled… Continue reading Tax Credit Again, Poll Says