By Mike Colpitts The Midwest section of the U.S. is outperforming the rest of the nation when it comes to home sales as the country’s heartland recovers from the real estate downturn at a healthier pace than any other region. The slow progress most areas of the country are making in the dog days of… Continue reading Midwest Home Sales Outperform
Category: Housing Market
Decline in Economic Uncertainty Triggers Mortgage Rates Jump
By Mike Colpitts Mortgage rates jumped for the first time in weeks as tensions over the Eurozone debt crisis and worries over the U.S. economy declined. The 30-year fixed rate mortgage averaged 3.55%, a jump from 3.49% a week ago. The 15-year fixed loan also moved higher. The 5-year Treasury indexed hybrid adjustable rate mortgage… Continue reading Decline in Economic Uncertainty Triggers Mortgage Rates Jump
Declining Foreclosures Bring Better Times
By Mike Colpitts Foreclosure activity declined 25% in the nation’s most populated state, California from one year ago in July, but the Golden State holds the distinction of having more foreclosures than any other. In fact the two highest foreclosure states, which are California and Arizona, are down in foreclosure filings. Nevada, which had been… Continue reading Declining Foreclosures Bring Better Times
Home Sales & Prices Jump
By Mike Colpitts Sales of existing homes and national median prices jumped in July to reach a seasonally adjusted annual rate of 4.47 million housing units after declining in June, according to the National Association of Realtors. Record low mortgage rates, which bottomed out in July and lower housing prices coupled with pent up demand… Continue reading Home Sales & Prices Jump
Condo Closes at Record $24.6 Million
A combination of condo units at the St. Regis Bal Harbour condominium development in Miami Beach, Florida has sold to set a record $24.6-million sales prices. It’s the largest transaction to close at the luxury development, which opened just this last January and the second largest deal in Miami history. Considered as one-unit, the deal… Continue reading Condo Closes at Record $24.6 Million
Underwater Refinancing Program to Expand
By Ryan Jackson A larger number of underwater homeowners with mortgages hoping to take advantage of all-time record low mortgage rates may be able to refinance under a program that is scheduled to be expanded by the U.S. government. An estimated 1.3 million homeowners have already refinanced through the government’s Relief Refinance Mortgage Program, which… Continue reading Underwater Refinancing Program to Expand
Mortgage Rates Claim Another Record
By Mike Colpitts Driven by record low mortgage rates, the U.S. housing market is beginning to show signs of improvement as consumers search for discount priced homes. The 30-year fixed rate loan, 15-year fixed mortgage and the 5-year ARM all hit new all-time record lows this week to push hesitant buyers off the fence. The… Continue reading Mortgage Rates Claim Another Record
10 Hottest Summer Real Estate Markets
As the drought produces the driest summer in years for the majority of the U.S. bargain hunters are finding some of the best deals in housing in a generation. The ten hottest summer real estate markets are experiencing better home sales and higher prices. With higher home and condo prices developing for more than six… Continue reading 10 Hottest Summer Real Estate Markets
Home Builder Confidence Jumps Four Months
By Ryan Jackson Home builder confidence jumped for the fourth straight month in August, according to the National Association of Home Builders. The two point gain builds on a six point jump in July to bring the index to the highest level since February 2007, close to the peak of the housing market collapse. “Current… Continue reading Home Builder Confidence Jumps Four Months
1.5 Million Over 50 Lost Homes to Foreclosure
By Mike Colpitts More than 1.5 million U.S. homeowners over the age of 50 lost their homes to foreclosure as a result of banks and Wall Street developing the mortgage crisis, according to a study by the American Association of Retired Persons (AARP). The study surveyed mortgage loan data for 2007 through 2011. The study… Continue reading 1.5 Million Over 50 Lost Homes to Foreclosure