Category: Housing Market

Mortgage Borrowing Rates Drop to Unprecedented Record Low

By Mike Colpitts Lower Treasury bond yields and uncertainty over the world economy drove mortgage rates to another record all-time low this week as the 30-year fixed rate mortgage hit an average of 3.62%. The historic drop in rates was also experienced in the shorter term 15-year fixed loan. The drop in rates is unprecedented… Continue reading Mortgage Borrowing Rates Drop to Unprecedented Record Low

Victim or Not Homeowners Pay for Crisis

By Ryan Jackson For nearly the past six years Housing Predictor has been forecasting the worst foreclosure crisis since the Great Depression and keeping you up to date on the numbers. Ever since the housing crisis started and foreclosures became mainstream news the numbers have been fogged by the deluge of daily reports on the… Continue reading Victim or Not Homeowners Pay for Crisis

70 US Cities Forecast with Higher Home Prices

By Mike Colpitts Nearly mid-way through the year 70 U.S. cities housing markets are forecast to recover in 2012, and some of them are already making successful inroads on their way with appreciating home prices. The cities include five that were forecast by Housing Predictor at the beginning of the year to appreciate in value,… Continue reading 70 US Cities Forecast with Higher Home Prices

Mortgage Rates Hold Steady at Record Lows

By Mike Colpitts Mortgage rates held steady to maintain record low levels, with the 30-year fixed rate mortgage staying at an average of 3.66% for the second week in a row, according to Freddie Mac. The shorter term 15-year fixed loan slipped a single basis point to 2.94%. Many consumers refinancing homes are opting for… Continue reading Mortgage Rates Hold Steady at Record Lows

Feds Pick Firms for Wholesale Home Sell Off

By Mike Colpitts The U.S. government has selected the firms it’s going to sell the first bulk inventory of its foreclosure homes to at wholesale prices. The Federal Housing Finance Agency (FHFA) quietly announced that the winning bidders of its real estate owned (REO) pilot program had been chosen the day before the Independence Day… Continue reading Feds Pick Firms for Wholesale Home Sell Off

Home Sales Extend 11 Month Growth Rate

By Mike Colpitts Despite a decline in existing home sales in May, the actual number of residential sales increased for 11 straight months compared to a year earlier. The dynamic adds fuel to the U.S. housing market recovery as consumers hoping to make home purchases during the summer take advantage of near record low mortgage… Continue reading Home Sales Extend 11 Month Growth Rate

Bear Stearns Finally Settles with Shareholders

By Mike Colpitts Failed Wall Street investment bank Bear Stearns has settled its massive class action lawsuit with stock shareholders for pennies on the dollar four years after the bank failed in a major disgrace at the height of the financial crisis on Wall Street. The settlement has received preliminary approval in U.S. District Court,… Continue reading Bear Stearns Finally Settles with Shareholders

Mortgages Slow on Refinance Pause

By Mike Colpitts Led by a slowdown in refinancing, mortgage applications slowed last week, despite near record low interest rates as consumers pulled back from trying to obtain cheaper loan payments. Refinancing slowed by 8.0% from the previous week, according to the Mortgage Bankers Association. The refinance share of mortgage activity also fell to 79%… Continue reading Mortgages Slow on Refinance Pause