By Mike Colpitts In places where jobs are more plentiful and workers are in demand local economies are doing much better than the majority of the U.S. and many housing markets are beginning to even see home prices rise. North Dakota, which now produces the fourth largest amount of oil in the country, Alaska and… Continue reading Home Prices Rising in Dakotas, Alaska, Texas
Category: Sales
Mortgages Fall as Interest Rates Climb
By Kevin Chiu Mortgage applications fell after interest rates moved higher for the week, according to the Mortgage Bankers Association. The climb in mortgage rates came with a drop in refinancing as homeowners looking to obtain new mortgages wait for lower rates. At the same time, Fannie Mae has revised its mortgage origination forecast for… Continue reading Mortgages Fall as Interest Rates Climb
Interest Rates Hold Steady as New Home Purchases Fall
By Mike Colpitts Restrained by a weak U.S. economy and lower demand for new home purchases, mortgage interest rates held steady after moving just one-basis point last week, according to Freddie Mac. The rate on a 30-year fixed mortgage remained at 4.50%. The fixed 15-year loan narrowly edged up two basis points to 3.69%. New… Continue reading Interest Rates Hold Steady as New Home Purchases Fall
Miami Home Sales Go Nuts
By Mike Colpitts Condominium and single family home sales are surging in Miami, once the nation’s epicenter of the real estate crash. Condo sales jumped 46% in May and single family home sales rose 20% over a year ago. The surge in sales was led by 1,420 condominiums that changed hands during the month, which… Continue reading Miami Home Sales Go Nuts
Jumbo Mortgages to Get More Expensive
By Mike Colpitts Mortgages on the nation’s most expensive homes are about to get more costly. In October the government is expected to halt backing jumbo mortgages of more than $625,500 through Freddie Mac and Fannie Mae, triggering higher interest rates and down payments. The change could also send home values lower in some high-end… Continue reading Jumbo Mortgages to Get More Expensive
Mortgages Biggest Spike in 3 Months
Demonstrating that there’s pent up demand for refinances and new home purchases despite erratic highs and lows in the marketplace, applications for home mortgages spiked to the highest level in three months as mortgage interest rates continued to fall. The biggest jump in the last quarter was led by refinancing, which gained 16.5% for the… Continue reading Mortgages Biggest Spike in 3 Months
Black Hills, South Dakota All the Rage
By Mike Colpitts Nestled amid the meadows of open range land and surrounded by a national forest, Canyon Springs Preserve offers the quiet privacy that millions dream of in the back country. It’s a quiet oasis with more than 50% conservation land bordered by national forest in Black Hills, South Dakota. Long before the real… Continue reading Black Hills, South Dakota All the Rage
Mortgage Interest Rates Suddenly Jump
By Kevin Chiu Pushed by weakening economic data, mortgage interest rates, already near historic lows, jumped slightly for the week to 4.50% on a 30-year fixed rate mortgage, according to Freddie Mac. The jump of only 0.01 came after rates dropped for eight straight weeks. But rates declined slightly on other loans for the week.… Continue reading Mortgage Interest Rates Suddenly Jump
Mortgage Rates Drop with Applications
By Ryan Rodriguez Mortgage applications dropped for the second week in a row even as interest rates fell, demonstrating economic turbulence persists in the housing market and the greater U.S. economy, according to the Mortgage Bankers Association. However, the drop in application activity was by only a slim margin. The mortgage market composite index dropped 0.4%… Continue reading Mortgage Rates Drop with Applications
New Home Builder Giving Away Vacations
By Mike Colpitts In a move to drive up new home sales, the nation’s largest publicly traded luxury homebuilder is giving away vacations to attract buyers. Toll Brothers will pay up to $4,000 in airfare and vacation accommodations to visit one of its four new home communities in Florida. The “Fly and Buy” program was… Continue reading New Home Builder Giving Away Vacations