By Mike Colpitts Rates on a conventional 30-year fixed rate mortgage moved higher for the first time in three weeks, as rates on other loan products for home financing moved lower showing mixed moves for the week, according to Freddie Mac. The rate on the long term mortgage rose to 4.74%, an uptick of just… Continue reading Mortgage Rates Mixed Moves
Category: Mortgage
Home Sales Surge Higher Showing Recovery
By Kevin Chiu Home sales surged higher in the last month of the year as buyers took advantage of near record low mortgage rates despite the holiday season, according to the National Association of Realtors. The existing sales of single family homes, townhouses and condominiums rose 12.3%, the fifth increase in the last six months.… Continue reading Home Sales Surge Higher Showing Recovery
Refinancing Shows Third Straight Weekly Rise
By Kevin Chiu Refinancing applications rose for the third straight week in a row as interest rates took a slight decline, according to the Mortgage Bankers Association. The refinance index rose 7.7% for the week ending January 14 th, as refinances rise to the highest level since before the holiday season in early December. The… Continue reading Refinancing Shows Third Straight Weekly Rise
Housing Recovery Develops
By Mike Colpitts Anchored by stronger economic growth in northern tier states with higher production in farming and energy, a housing recovery is slowly developing that is already broadening into portions of the mid-west. Three of the nation’s lowest populated states, Wyoming, North Dakota and South Dakota had little to do with the real estate… Continue reading Housing Recovery Develops
Should You Work with a Real Estate Agent
By Lois A. Vitt, Ph.D. When asked most people who use a real estate agent to sell their home say they would choose to do it again. Whether this option is best for your needs is a question that requires some research and careful introspection. While selling your home on your own may appear to… Continue reading Should You Work with a Real Estate Agent
Mortgage Purchases Move Higher on Lower Rates
By Mike Colpitts Applications for home mortgages increased slightly for the week, indicating that home buying activity is increasing in the New Year, according to the Mortgage Bankers Association. The bankers composite index, which includes both applications for home mortgages and refinances showed a 2.2% rise for the week. However, on an unadjusted basis, when… Continue reading Mortgage Purchases Move Higher on Lower Rates
Mortgage Rates Drop
By Kevin Chiu Mortgage rates dropped for the first time in weeks, falling to 4.77% down from 4.86% on a 30-year fixed rate loan, beginning the New Year on the right foot for mortgage borrowers, according to Freddie Mac. Rates have fluctuated on home mortgages since before Christmas when they rose for four straight weeks… Continue reading Mortgage Rates Drop
Mortgage Rates Rise as Buyers Jump
By Mike Colpitts Mortgage rates rose to the highest level since last May as home buyers jumped back into the market, according to Freddie Mac. The rate on a 30-year fixed rate mortgage rose to 4.86%, a .05 move up for the week. The National Association of Realtors pending home index rose 3.5% in November… Continue reading Mortgage Rates Rise as Buyers Jump
Mortgage Rates Dip Slightly
By Mike Colpitts Mortgage rates declined to an average of 4.81% for the week with 0.7 point down from 4.83% a week ago, according to Freddie Mac. The dip represents the first decline in more than a month after rates hit their record low in late October. The 30-year fixed rate mortgage is expected to… Continue reading Mortgage Rates Dip Slightly
Mortgage Rates Soar Higher
Mortgage rates soared to 4.83% on a 30-year fixed rate mortgage to the highest level in more than eight months, according to Freddie Mac. The increase accounted for the largest rise in conventional mortgages since hitting their record all-time low and put the brakes on home buying. Rates rose from 4.61% with an average of… Continue reading Mortgage Rates Soar Higher