Mortgage interest rates climbed slightly for the week as fixed rates moved up a single basis point on 30-year and 15-year loans from a week earlier, according to Freddie Mac. The rates on adjustable mortgages moved slightly lower. The small climb in rates still keeps borrowing for those wanting to refinance mortgages near their historic… Continue reading Mortgage Rates Climb a Little
Category: Sales
Mortgages Fall on Interest Rate Hike
Mortgage activity fell as interest rates saw a hike last week on signs of a weaker economy and trouble related to the U.S. budget debacle, according to the Mortgage Bankers Association. The composite index, a combination of refinancing and new home mortgage applications had a fall of 5% from the prior week as an increasing… Continue reading Mortgages Fall on Interest Rate Hike
Home Sales Dip Troubling Real Estate Market on Cancellations
By Mike Colpitts Home sales saw a dip as weary buyers cancelled more purchase transactions in June, according to the National Association of Realtors. Existing sales declined in the West and Northeast to out pace an increase in real estate sales in the Southern and Mid-Western sections of the U.S. Sales of single family homes,… Continue reading Home Sales Dip Troubling Real Estate Market on Cancellations
Frustrated Homeowners Wait to Sell
By Mike Colpitts Frustrated and angry over the state of the U.S. economy, Wall Street and bankers homeowners in just about every community in the nation are wondering whether they will be able to wait out the housing market to sell their homes. They are caught in the web of a housing mess run amuck.… Continue reading Frustrated Homeowners Wait to Sell
Mortgage Rates to Skyrocket on Economic Budget Failure
By Mike Colpitts Failures by Congress and President Barack Obama to reach a deal on the U.S. economic budget is likely to trigger a massive hike to skyrocket mortgage interest rates, sending rates up at least 1 to 2½% within just a few short days following an impasse. The sudden rise in rates would essentially… Continue reading Mortgage Rates to Skyrocket on Economic Budget Failure
Treasury Bonds Nudge Interest Rates Higher
By Mike Colpitts Lower rates paid on U.S. Treasury bonds sent mortgage rates higher this week as legislators in Washington, D. C. argued over an agreement on the national budget limit going into the August 2nd deadline. Rates on 30-year fixed rate loans averaged 4.55%. The 15-year fixed rate loan remained the same as a… Continue reading Treasury Bonds Nudge Interest Rates Higher
Slowdown in Home Sales New Normal
By Mike Colpitts A slowdown in home sales during what is usually the hottest time of the year for home buying activity just may be the new normal in real estate. The erratic ups and downs the residential market is suffering are setting home sales up for a long recovery process with a series of… Continue reading Slowdown in Home Sales New Normal
Mortgage Interest Rates Surge Higher
Mortgage interest rates surged higher as Treasury bond rates moved above 3% in reaction to the end of quantitative easing by the Federal Reserve. The rate on a fixed 30-year mortgage rose to 4.60%, a hike from an average of 4.51% last week, according to Freddie Mac. The rates on other home mortgages also moved… Continue reading Mortgage Interest Rates Surge Higher
Comedian Jimmy Fallon Buys $5.7 Million Estate
Talk show host and comedian Jimmy Fallon, whose late night TV talk show is rising in the ratings is buying a 3,500 square foot estate in the Hamptons outside of New York City, where he hosts his nightly show. The former “Saturday Night Live” TV Weekend Update co-anchor is settling into his new digs in… Continue reading Comedian Jimmy Fallon Buys $5.7 Million Estate
Mortgage Growth Stalls on Higher Interest Rates
A sudden increase in mortgage interest rates triggered a slowdown in loan applications for the first time in more than two months, according to the Mortgage Bankers Association weekly survey. The index saw a fall in applications, bringing refinances to a stall. Mortgage rates rose sharply for the week on a 30-year fixed rate loan… Continue reading Mortgage Growth Stalls on Higher Interest Rates