Category: Sales

Homeowners Cash Pay Offs Gain Momentum

By Ryan Jackson In a move to improve bank balance sheets and increase their profits, banks are offering cash incentives to homeowners in default on their mortgages to entice them to make short sales on their homes. The effort is gaining momentum with an onslaught of banks and private mortgage companies as bankers offer as… Continue reading Homeowners Cash Pay Offs Gain Momentum

Mortgage Rates Creep Higher

By Mike Colpitts Despite the Federal Reserve’s best efforts to keep mortgage rates low, conventional home loan borrowing rates are slowly climbing. The hike in rates is developing because of higher yields being paid for U.S. Treasuries combined with improving economic news. The upward trend in rates is developing as better economic news about the… Continue reading Mortgage Rates Creep Higher

Mortgages Pull Back as Rates Rise

For the second week in a row applications for home mortgages declined, led by a drop in home refinancing. A 4.6% pull back in refinances demonstrates the softer mortgage market, which seems likely to repeat a year similar to last year of slower activity, according to the Mortgage Bankers Association survey. A hike in mortgage… Continue reading Mortgages Pull Back as Rates Rise

Mortgage Activity Climbs on Lower Rates

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

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

February Warmth Chills Home Sales

By Mike Colpitts Sales of existing homes fell in February, slightly less than 1% from the previous month, despite unseasonably warmer weather in most of the U.S. but maintained a stronger pace of sales over a year ago, according to the National Association of Realtors. Home sales tabulated by the organization, include single family homes,… Continue reading February Warmth Chills Home Sales

Positive Growth Ripple Effect Moves to Housing

By Riekie Karstens A U.S. government report confirmed that initial claims for unemployment benefits decreased to the lowest level since 2009, sending a ripple effect of positive growth to housing. The jobless rate fell to 8.3% from 8.5% the prior month. Senior economist at PNC Financial Services Group, Gus Faucher, said the data is further… Continue reading Positive Growth Ripple Effect Moves to Housing

Real Estate Recovery Springs to Life

The spring home selling season is just getting started, but signs are growing that the season is already getting off to a faster start. Barclays Capital group upgraded four new homebuilder stocks, including hard hit KB Home and Pulte Group from hold to buy. Foot traffic at new homebuilder subdivisions is much higher than since… Continue reading Real Estate Recovery Springs to Life