Category: Sales

Mortgage Interest Rates Budge Higher

By Kevin Chiu Mortgage interest rates budged slightly higher for the fourth week in a row, inching up just one basis point on a 30-year fixed rate loan and by an identical amount on the seldom purchased 15-year fixed rate mortgage. Interest rates were little changed after an encouraging jobs report. The U.S. economy added… Continue reading Mortgage Interest Rates Budge Higher

Actor Nicolas Cage Sells Estate at $9.5 Million Loss

By Kevin Chiu Movie actor Nicolas Cage sold his Middletown, Rhode Island estate at a loss of $9.5-million as the Oscar winning star of more than a dozen major box office hits suffers massive losses in the real estate collapse. Cage purchased the 27-acre estate for $15.7-million at the height of the real estate bubble… Continue reading Actor Nicolas Cage Sells Estate at $9.5 Million Loss

Refinances Tumble Sharply

By Kevin Chiu Mortgage applications for home refinances dropped sharply as homeowners waited out another tumble in mortgage interest rates, according to the Mortgage Bankers Association. Refinances had a drop of 10.1% from the previous week as homeowners held back from applying at the steepest level in nearly a year. Applications on new mortgage financing… Continue reading Refinances Tumble Sharply

Real Estate Investors Picking Up Deals

By Kim Olson The real estate industry is in a slump especially when it comes to homeowners who are trying to sell their own homes, but beginning this year the investment sector of the housing market showed a major upturn with 19% of residential purchases being made by investors, according to the National Association of… Continue reading Real Estate Investors Picking Up Deals

Home Purchases Move Higher

By Kevin Chiu New home purchases moved higher for the week as indicated by an increase in mortgage applications, while refinances dropped, according to the Mortgage Bankers Association. The seasonally adjusted purchase index had a 6.7% rise to its highest level of the year as warmer spring time weather made it more comfortable for home… Continue reading Home Purchases Move Higher

Questions to Ask on Refinancing a Mortgage

If you are thinking about refinancing your existing mortgage, you may be wondering what refinancing questions to ask your mortgage lender. While there are a number of questions to ask when refinancing, there are a few points you will want to be perfectly clear on before committing to a refinance. Knowing what to ask when… Continue reading Questions to Ask on Refinancing a Mortgage

Home Price Direction Fact and Fiction

By Kim Olson Home prices have been moving in one direction in most areas of the U.S. and that isn’t comforting homeowners. It’s a fact that most areas of the nation are seeing more home sales but only because prices have come down so much because of foreclosures, and other bank-assisted sales. What can prospective… Continue reading Home Price Direction Fact and Fiction

Mortgage Rates Drop to Record Low

By Kevin Chiu Mortgage interest rates dropped to the lowest levels since last November on signs that the U.S. economy is weakening further, and is likely to move into another official government defined recession. The housing market in many states throughout the country is already dealing with an economic depression, and has been for more… Continue reading Mortgage Rates Drop to Record Low

Mortgage Rates Jump 3 Straight Weeks

By Kevin Chiu Mortgage rates jumped higher for the third straight week as home buyers became skittish about making purchase decisions amid international unrest and doubts about the U.S. economy, according to Freddie Mac. The jump in interest rates on the bench mark 30-year fixed rate loan moved ever closer to 5% at 4.86%, five… Continue reading Mortgage Rates Jump 3 Straight Weeks