Category: Sales

Home Purchases Rise, while Refinances Decline

Home purchase applications for new mortgages rose slightly, while refinancing shrank for the third straight week, indicating that after months of homeowners refinancing mortgages to lower less expensive loans the surge in refinances may finally be coming to an end, according to the Mortgage Bankers Association. Refinances slipped 6.4% for the week ending Oct. 29th… Continue reading Home Purchases Rise, while Refinances Decline

Mortgage Applications Show Promise with Low Rates

Applications for new mortgages rose for the second consecutive week as applications for new home purchases and refinances moved higher on near record low rates, according to the Mortgage Bankers Association. Purchase applications grew by 3.9% for the week ending Oct. 22, while refinancing rose a more modest 3% over the previous week. The improvement… Continue reading Mortgage Applications Show Promise with Low Rates

Home Auctions Boom despite Sales Moratorium

By Kevin Chiu In Las Vegas, gamblers are refraining from putting down payments on homes in neighborhoods to find some of the best real estate deals at auctions. In Los Angeles want-a-be homeowners are checking home listings online to check prices, and then turning out to bid on auctions in search of bargains. And in… Continue reading Home Auctions Boom despite Sales Moratorium

First Home Price Decline in Year

Core Logic, a heavily viewed monitor of U.S. home prices said its home price index dropped for the first time in 2010 in August, sending prices just 1.5% lower for the year. However, the index also showed positive appreciation in more than a handful of states. The Core Logic index has had an unusually low… Continue reading First Home Price Decline in Year

Refinance Mortgages at Lowest Rates in Decades

Mortgage rates are near their lowest levels in decades, although they have risen slightly since hitting all time lows in mid-October. The rate on a 30-year fixed rate mortgage hit 4.19%, the lowest since 1951, according to the Federal Housing Administration. A small rise in rates has produced an increase in home refinances, which represents… Continue reading Refinance Mortgages at Lowest Rates in Decades

Home Sales Jump Second Straight Month

By Mike Colpitts Home sales jumped in September for the second straight month in a row, showing a recovery in the sale of existing homes, according to the National Association of Realtors, even while the inventory of homes listed for sale out-weighs market demand. The sale of single family homes, condos and townhouses reached an… Continue reading Home Sales Jump Second Straight Month

Despite State Tax Credit California Home Sales Decline

By Kevin Chiu Despite a special state home buyer tax credit, sales of homes in California declined more than 17% from a year ago in September, according to San Diego based real estate research firm DataQuick. The median price for a California home is $265,000, which is 5.6% higher for the year. But with a… Continue reading Despite State Tax Credit California Home Sales Decline

Home Sales Show Promising Sign with Growing Applications

Pushed by record low mortgage rates, applications for both refinancing and new home purchases rose strongly over the last week, showing a promising sign for the real estate market, according to the Mortgage Bankers Association. Refinances rose 21%, while purchase applications were up 8.5%. “After five weeks of steadily declining rates to yet another new… Continue reading Home Sales Show Promising Sign with Growing Applications