Category: Housing Market

Olympics Trigger Huge Boom, But Little in Home Values

By Ryan Jackson Six cities that hosted the Olympics in the last quarter century have experienced huge construction booms with new projects needed to house the games, but the majority found little appreciation in home values or other property inflation following the games. In fact, three of six Olympic cities, including Los Angeles and Atlanta… Continue reading Olympics Trigger Huge Boom, But Little in Home Values

Mortgage Activity Surges on Refinancing

By Mike Colpitts Mortgage rates hit another record low last week, spurring a huge surge in home refinancing as homeowners sought out the lowest loan payments possible. The Mortgage Bankers market composite index jumped 16.9% on a seasonally adjusted basis. Refinancing surged 22% from the prior week and is at the highest level since last… Continue reading Mortgage Activity Surges on Refinancing

MERS Role Upheld in Foreclosures

By Mike Colpitts MERS, the electronic mortgage giant transfer company at the center of the robo-signing scandal, received better news from the California Supreme Court of Appeals. The court rejected mortgage borrower claims challenging the firm’s role as beneficiary in foreclosures. The decision, written by Justice Paul Haerle of the First Appellate District, agreed with… Continue reading MERS Role Upheld in Foreclosures

Higher Prices May Produce Trouble Bubble

By Ryan Jackson Higher home prices being paid in some U.S. cities could lead to troublesome isolated bubbles, according to new research. Strong demand for homes in three of the nation’s hardest hit states are pushing up housing prices more quickly than might be sustainable. Driven by record low mortgage rates, sales are improving at… Continue reading Higher Prices May Produce Trouble Bubble

Mortgage Rates Set New Records 4 Straight Weeks

By Mike Colpitts Mortgage rates have been setting new record lows four straight weeks as nervousness over the U.S. economy and uncertainty over the European debt crisis send rates lower. The 30-year fixed rate loan hit an average of 3.49% last week for the first time in history, according to Freddie Mac. Rates have been… Continue reading Mortgage Rates Set New Records 4 Straight Weeks

Appraisal Reform Calls Grow

By Ryan Jackson Despite calls for sweeping reform of appraisal standards and new requirements that have already been implemented, calls for greater  appraisal reforms persist. As Congress takes up the next stages of financial reform appraisers are under going greater scrutiny. Accurate appraisals are fundamental to the successful performance of the financial markets that provide… Continue reading Appraisal Reform Calls Grow

Majority Won’t Purchase Vacation Homes

Despite stabilization developing in many U.S. housing markets, a large majority of respondents to a new survey say they would not consider purchasing a second home or vacation property. Some 60% of respondents to the new Housing Predictor survey said they would not take the leap of faith to purchase a second home even though… Continue reading Majority Won’t Purchase Vacation Homes

Mortgage Rates Fall to New Record

By Ryan Jackson Driven by falling U.S. Treasuries, mortgage rates fell to their lowest level in U.S. history for the third week in a row as worries over the economy trouble financial markets. The 30-year fixed rate mortgage dropped to average 3.49%, according to Freddie Mac. Rates have been on a one-way move downward since… Continue reading Mortgage Rates Fall to New Record

15 Year Mortgages Gain Broad Appeal

By Mike Colpitts Fixed 15-year mortgages, once thought to be the impossible for most homeowners to afford, are gaining ground in the current economy at never before seen levels. Homeowners refinancing homes and new home purchases are increasingly opting for the loans. The mortgages cut the number of years it takes to pay off a… Continue reading 15 Year Mortgages Gain Broad Appeal