By Mike Colpitts Mortgage rates on the benchmark 30-year fixed rate home loan slipped below 4% for the first time this year, according to Freddie Mac. The drop in rates came as Treasury bonds fell below 2% propelling the move as consumer worries over the European debt crisis impacted U.S. financial markets. The 30-year hit… Continue reading Mortgage Rates Drop Below 4%
Category: Housing Market
Less than 1-Million Underwater Homeowners to Refinance
By Mike Colpitts In the Obama administration’s piece-meal approach to solving the housing market collapse, less than 1-million additional underwater homeowners are expected to receive refinances through the expanded HARP program, according to federal officials. The announcement by Federal Housing Finance Agency Director Edward DeMarco confirms a Housing Predictor analysis made just a day after… Continue reading Less than 1-Million Underwater Homeowners to Refinance
Home Purchases for Low Mortgage Rates Jump
By Mike Colpitts Home purchase mortgage applications jumped as a result of the second lowest mortgage rates on record, but overall home loan activity barely budged last week as applications slowed by a thin margin (1.2%), according to the Mortgage Bankers Association. The jump in mortgage buying activity for home purchases, however, is a positive… Continue reading Home Purchases for Low Mortgage Rates Jump
Mortgage Rates Drop as Adjustables Hit New Lows
By Kevin Chiu Mortgage rates dropped on popular fixed rate loans and hit a new low on adjustable rate mortgages, according to Freddie Mac. The drop in rates sent the 30-year fixed rate average at or below 4% for the fourth straight week. The loan averaged 3.98%, slipping two basis points from last week, according… Continue reading Mortgage Rates Drop as Adjustables Hit New Lows
US Offers Foreign Residency for Real Estate
By Jeanne Roberts It’s an interesting offer – As a foreigner, buy a home in the United States for $500,000 or more and get a visa that lets you also live in the country. Buyers could also qualify for the visa by purchasing a $250,000 home and spending an equivalent amount on residential real estate… Continue reading US Offers Foreign Residency for Real Estate
Cash is King in Current Real Estate Market
By Miike Colpitts As investors attempt to capitalize on the current state of the economy and snap up bargain priced deals in the real estate market, all cash sales are soaring and account for almost one in three residential transactions. Cash is king. Bargain hungry investors have been looking for cheaply priced housing to pay… Continue reading Cash is King in Current Real Estate Market
Short Sales Projected to Skyrocket
By Mike Colpitts Bank assisted short sales or the lender approved selling of homes at less than what is owed on a mortgage, are projected to skyrocket in 2012 as banks and mortgage lenders come to grips with the mess the U.S. housing market has been in for five years. Short sales are forecast to… Continue reading Short Sales Projected to Skyrocket
Title Officers Charged in Robo-Signing Felonies
By Mike Colpitts Two title officers associated with Lender Processing Services have been indicted by a Nevada county grand jury on charges related to illegal robo-signings, according to the Office of the Nevada Attorney General. The two LPS employees, Gary Trafford and Gerri Sheppard, were indicted on 606 counts. The charges relate to allegations of… Continue reading Title Officers Charged in Robo-Signing Felonies
Mortgage Rates Dive as Applications Soar
By Mike Colpitts Mortgage applications soared as mortgage rates dropped to the lowest level on fully executed home loans in weeks, according to the Mortgage Bankers Association. It was the second straight week rates had seen a drop to drive an increase in loan applications. Bankers reported an increase of 10.3% in application volume from… Continue reading Mortgage Rates Dive as Applications Soar
Energy Proposal Could Save Homeowners Money
By Jeanne Roberts In the modern world, mortgage appraisers calculate the value of residential real estate based on its age, location, square footage, general appearance, amenities, and tax burden. Many also include an amorphous “fudge value” to take into consideration intangibles like a superb school district, or the hazard-limiting value of being at the end… Continue reading Energy Proposal Could Save Homeowners Money