Category: Housing Market

Healing Real Estate Market Behind the Numbers

By Ryan Jackson The bread and butter of the housing market, single family home sales rose just 3% in April to 4.09 million units, according to the National Association of Realtors. Although the increase represents an improvement for the U.S. housing market, it shows a healing upturn in the pace of sales going into the… Continue reading Healing Real Estate Market Behind the Numbers

Owner Financing Grows in Popularity

By Mike Colpitts Faced with a tight mortgage market, owner financing is growing in popularity as more homeowners market their homes to benefit new owners. But misconceptions over the easy availability of homes financed by their current owners keep many wannabe buyers from making home purchases. U.S. banks offer mortgages under tightly regulated criteria to… Continue reading Owner Financing Grows in Popularity

History Breaking Mortgage Rates Dip

By Mike Colpitts The history breaking spree runs on for U.S. mortgage rates as the 30-year fixed rate loan experienced a slight dip, dropping a single basis point from last week to 3.78%, according to Freddie Mac. The rate on the 15-year fixed mortgage held steady at 3.04%. The 5-year adjustable rate mortgage averaged 2.83%,… Continue reading History Breaking Mortgage Rates Dip

Former Homeowners Not Applying for Aid

By Mike Colpitts More than 4-million former homeowners whose homes may have been foreclosed illegally by the nation’s largest banks have received letters from the U.S. government asking them if they would like their foreclosures to be reviewed. But so disillusioned by the banking industry and their own situations, the over-whelming majority have failed to… Continue reading Former Homeowners Not Applying for Aid

Mortgage Reductions Crucial to Economic Recovery

By Kevin Chiu Troubled by an economy with a series of problems, the U.S. needs to face reality that its financial system is so problematic that mortgage principal reductions for homeowners at risk of default are the only route to getting the nation’s economy back on track. The rate on a 30-year fixed rate mortgage… Continue reading Mortgage Reductions Crucial to Economic Recovery

Home Buying Picks Up

By Mike Colpitts Ushered in by near record low mortgage rates, evidence of a pick up in home buying is beginning to develop as the annual spring home buying season turns into high gear, with an increase in home purchase applications for mortgages, according to the Mortgage Bankers Association. The announcement is good news for… Continue reading Home Buying Picks Up

Credit Scores May Open Door on Mortgages

By Mike Colpitts In the first sign that mortgage lenders may be loosening their grasp lending to home loan borrowers, approved loan credit scores are declining. Applicants for home mortgages approved during the month of April averaged 745 on their FICO scores, a five point decline from two months earlier, according to Ellie Mae. The… Continue reading Credit Scores May Open Door on Mortgages

States Rip Off Foreclosure Victims

By Mike Colpitts Almost $1-billion targeted to victims of banking foreclosure fraud is being ripped off from foreclosure victims to be used to pay for other programs for states facing serious financial deficits. The nation’s largest five banks agreed to pay a $25 billion settlement as part of their agreement to settle allegations of illegal… Continue reading States Rip Off Foreclosure Victims

U.S. Treasury Bonds Extend Record Low Mortgage Rates

By Mike Colpitts Treasury bonds recovered slightly Monday after reaching all-time record lows, sending mortgage rates to record low levels. The recovery, however, does little to boost sentiment over the U.S. economy, which could be damaged from contagion in Europe. Worries over the Greek debt crisis and economic turmoil other places in the Euro-zone trouble… Continue reading U.S. Treasury Bonds Extend Record Low Mortgage Rates