By Kevin Chiu Home and condominium sales are making a major rebound in Miami, one of the U.S. most severely devastated housing markets. Condo sales rose 29% over 2009 in December clearly demonstrating that the South Florida market is making strides into a real estate recovery, despite tight mortgage lending standards. Developers constructed more than… Continue reading Hurting Miami Home Sales Rebound
Category: Sales
Mortgage Rates Mixed Moves
By Mike Colpitts Rates on a conventional 30-year fixed rate mortgage moved higher for the first time in three weeks, as rates on other loan products for home financing moved lower showing mixed moves for the week, according to Freddie Mac. The rate on the long term mortgage rose to 4.74%, an uptick of just… Continue reading Mortgage Rates Mixed Moves
Home Sales Surge Higher Showing Recovery
By Kevin Chiu Home sales surged higher in the last month of the year as buyers took advantage of near record low mortgage rates despite the holiday season, according to the National Association of Realtors. The existing sales of single family homes, townhouses and condominiums rose 12.3%, the fifth increase in the last six months.… Continue reading Home Sales Surge Higher Showing Recovery
Housing Recovery Develops
By Mike Colpitts Anchored by stronger economic growth in northern tier states with higher production in farming and energy, a housing recovery is slowly developing that is already broadening into portions of the mid-west. Three of the nation’s lowest populated states, Wyoming, North Dakota and South Dakota had little to do with the real estate… Continue reading Housing Recovery Develops
Mortgage Purchases Move Higher on Lower Rates
By Mike Colpitts Applications for home mortgages increased slightly for the week, indicating that home buying activity is increasing in the New Year, according to the Mortgage Bankers Association. The bankers composite index, which includes both applications for home mortgages and refinances showed a 2.2% rise for the week. However, on an unadjusted basis, when… Continue reading Mortgage Purchases Move Higher on Lower Rates
Mortgage Rates Drop
By Kevin Chiu Mortgage rates dropped for the first time in weeks, falling to 4.77% down from 4.86% on a 30-year fixed rate loan, beginning the New Year on the right foot for mortgage borrowers, according to Freddie Mac. Rates have fluctuated on home mortgages since before Christmas when they rose for four straight weeks… Continue reading Mortgage Rates Drop
Mortgage Rates Rise as Buyers Jump
By Mike Colpitts Mortgage rates rose to the highest level since last May as home buyers jumped back into the market, according to Freddie Mac. The rate on a 30-year fixed rate mortgage rose to 4.86%, a .05 move up for the week. The National Association of Realtors pending home index rose 3.5% in November… Continue reading Mortgage Rates Rise as Buyers Jump
Mortgage Rates Dip Slightly
By Mike Colpitts Mortgage rates declined to an average of 4.81% for the week with 0.7 point down from 4.83% a week ago, according to Freddie Mac. The dip represents the first decline in more than a month after rates hit their record low in late October. The 30-year fixed rate mortgage is expected to… Continue reading Mortgage Rates Dip Slightly
Home Sales Rise Higher
Home sales rose higher to a seasonally adjusted annual rate of 4.68 million units in November, according to the National Association of Realtors. The rise, however, accounts for a 27.9% decline from the market’s peak during the federal tax credit. The rise in sales represents a positive trend for the housing market, and includes the… Continue reading Home Sales Rise Higher
Mortgage Rates Soar Higher
Mortgage rates soared to 4.83% on a 30-year fixed rate mortgage to the highest level in more than eight months, according to Freddie Mac. The increase accounted for the largest rise in conventional mortgages since hitting their record all-time low and put the brakes on home buying. Rates rose from 4.61% with an average of… Continue reading Mortgage Rates Soar Higher