Category: Housing Market

Mortgages Drop As Homeowners Await New Refinancing Program

By Kevin Chiu Mortgage applications dropped for the third straight week as homeowners waited for the new Obama administration refinancing program to go into effect, according to the Mortgage Bankers Association. Applications slowed by nearly 12% from one week earlier. The drop-off in activity was also led by a slowdown caused by the Thanksgiving Holiday,… Continue reading Mortgages Drop As Homeowners Await New Refinancing Program

Lowest Mortgage Rates of Year Arrive

By Kevin Chiu The lowest mortgage rates of the year arrived in time for New Year’s, according to the Mortgage Bankers Association survey. However, despite the drop, mortgage refinances and mortgages for home purchases slipped for the week. The drop in applications was attributed to the traditional holiday slowdown caused by Christmas and New Years,… Continue reading Lowest Mortgage Rates of Year Arrive

Homeowner Insurance Guide

By Erika Stewart Home insurance is important to insure that property is protected in the event of emergencies like natural disasters, fires, and even over liability issues like a friend or visitor falling and hurting themselves. Having homeowner insurance protects not only the home but its occupants and their possessions. However, not all home insurance… Continue reading Homeowner Insurance Guide

Foreclosures Show Positive Fall

By Kevin Chiu Foreclosure filings dropped 14% in November experiencing a positive fall as default notices, scheduled bank auctions and bank repossessions hit their lowest level in a year, according to RealtyTrac. However, some of the hardest hit states, including California, Arizona and Massachusetts posted year-over-year increases in November. Foreclosure auctions, the final step in… Continue reading Foreclosures Show Positive Fall

Mortgage Refinances Double on Lower Rates in New Program

By Mike Colpitts Homeowners taking advantage of the new government backed refinancing initiative triggered a huge jump in refinancing applications as mortgage holders attempt to take advantage of near record low mortgage rates. The jump in refinances accounted for nearly double the volume of applications at some lenders. The Mortgage Bankers Association refinance index increased… Continue reading Mortgage Refinances Double on Lower Rates in New Program

Index Shows Housing Prices Decline

By Mike Colpitts Housing prices declined an average of 3.9% through the end of October on a year over year basis, according to the CoreLogic housing price index. The index shows that home values have dropped for three straight months, and are especially hard hit in five states. Nevada has led the nation in foreclosures… Continue reading Index Shows Housing Prices Decline

Underwater Mortgages Drop Slightly

By Mike Colpitts Homeowners with underwater mortgages or those who owe more on their homes than their properties are currently worth dropped in the third quarter in the U.S., according to real estate data firm CoreLogic. The decline, however, was marginal falling to 10.7-million residential homeowners, which is 200,000 less than the second quarter of… Continue reading Underwater Mortgages Drop Slightly