By Mike Colpitts Driven by a drop in mortgage rates, home loan activity rose for the first time in five weeks for the week ending March 30th, according to the Mortgage Bankers Association. The purchase index led the market higher in applications for home loans. The bankers seasonally adjusted purchase index jumped 7.2% for the… Continue reading Mortgage Activity Climbs on Lower Rates
Category: Housing Market
Survey Says Freddie and Fannie Should Stop Buying Mortgages
A large majority of consumers surveyed say they want U.S. mortgage giants Freddie Mac and Fannie Mae to stop buying home mortgages. The opinion poll found that 72% of all respondents want the companies, which act as a back-stop for the nation’s mortgage market to stop purchasing home loans from banks and other mortgage lenders.… Continue reading Survey Says Freddie and Fannie Should Stop Buying Mortgages
Mortgage Rates Forecast Higher
By Ryan Jackson The improving U.S. economy is forecast to push mortgage rates higher, driving the cost of home loans much higher before the end of 2012, according to a consensus of economists. The analysis was part of the Urban Land Institute’s survey released for 2012 through 2014. Economists expect inflation as measured by the… Continue reading Mortgage Rates Forecast Higher
NAR President Says Home Prices Going Up
By Mike Colpitts The new president of the National Association of Realtors says that home prices have gotten so low there’s only one way for them to go – up. “People realize that homeownership is an investment in their future. Given an apparent over correction in most areas, over the long term home prices have… Continue reading NAR President Says Home Prices Going Up
Economists Forecast Sharp Real Estate Rebound
By Mike Colpitts A group of leading U.S. economists forecast broad improvements in the nation’s economy, real estate capital markets and the housing market through 2014. The projection was issued after the Urban Land Institute surveyed economists for its new real estate consensus forecast. The survey of 38 economists across the country, found that 2012… Continue reading Economists Forecast Sharp Real Estate Rebound
Mortgage Rates Jump on Higher Treasuries
By Mike Colpitts Higher bond yields paid on U.S. Treasuries pushed mortgage rates higher for the week along with reports on increased hiring by employers. The fixed 30-year mortgage saw a jump to 3.92%, a four basis point nudge up over last week, according to Freddie Mac. Rates on shorter term fixed mortgages and adjustable… Continue reading Mortgage Rates Jump on Higher Treasuries
High Priced Home Sales Soar
By Mike Colpitts High end home sales on the San Francisco peninsula driven by the soon to be released Facebook IPO and soaring prices of Google stock aren’t the only place in the U.S. that is seeing luxury home sales above at least $1 million soar. “It’s like someone flipped the switch,” said Santa Barbara,… Continue reading High Priced Home Sales Soar
Skin in The Game Real Estate Crossroads
By Anwar Elgonemy Skin in the Game is a new book about the bloody real estate cross roads where real estate and high-finance meet. The book is not a traditional textbook about real estate finance, nor is it one of the numerous post-mortem publications that have covered the intricacies of the subprime mortgage crisis. As… Continue reading Skin in The Game Real Estate Crossroads
5 Reasons to be Preapproved for a Mortgage
By Ryan Jackson Real estate agents push their clients to get prequalified for a home loan all the time and in today’s tough economy and tight credit market if you are seriously considering the purchase of a home you should follow your agent’s advice, since getting preapproved for a home mortgage can save you lots… Continue reading 5 Reasons to be Preapproved for a Mortgage
Mortgage Executives to Plead Not Guilty
By Mike Colpitts Three top executives formerly with the second largest U.S. mortgage company charged by the SEC with hiding their company’s deteriorating financial condition from investors as the firm was failing will plead not guilty to federal charges, according to an attorney for one of the accused executives. The SEC charged Thornburg Mortgage Inc.… Continue reading Mortgage Executives to Plead Not Guilty