Category: Sales

Mortgage Applications Rise

Applications for home mortgages and refinances are soaring higher, showing an increase in activity in home sales and refinancing as a result of near record low loan rates, according to the Mortgage Bankers Association. Low rates coupled with lower home prices are producing the rise in applications. The volume of home re-sales, however, scheduled to… Continue reading Mortgage Applications Rise

Financial Reform Act Includes Mortgage Relief to Aid Millions

By Kevin Chiu Mortgage relief for unemployed homeowners at risk of foreclosure is included in the sweeping financial reform act expected to be signed by President Barack Obama. The aid is aimed at helping millions of homeowners who have been thrown out of work by the troubled economy. Members of Congress agreed to spend $1-billion… Continue reading Financial Reform Act Includes Mortgage Relief to Aid Millions

Home Sales Fall Amid Growing Fears

By Kevin Chiu Existing home sales fell a slight 2.2% in May, but sales remain at a higher level than a year ago alleviating some fears about the housing market, according to the National Association of Realtors. The monthly report also showed a fall in the number of homes listed for sale, signaling an improving… Continue reading Home Sales Fall Amid Growing Fears

Hard Sell in Obama Housing Scorecard Debut

The White House is coming out with a hard sell to put its best face on the housing market in efforts to improve market conditions and win back voters, introducing a monthly scoreboard on the nation’s housing market. From the start, the program seems to be more like it’s out of the Roosevelt Great Depression… Continue reading Hard Sell in Obama Housing Scorecard Debut

Flooded Counties Outsource Foreclosure Sales

By Kevin Chiu As the foreclosure crisis hits its peak, counties across the country are flooded with default filings. Many can’t keep up with the record volume as county recorder offices drown in the massive onslaught. Especially hard hit counties are taking foreclosure sales off the courthouse steps, outsourcing them to auction services online. Some… Continue reading Flooded Counties Outsource Foreclosure Sales

Housing Recovery Likely as Home Sales Rise

Applications to purchase home mortgages increased for the week marking the first rise in home sales since the federal government’s tax credit expired, indicating that a housing recovery is possible nationally as sales improve, according to the Mortgage Bankers Association. Refinancing also shot up. The Market Composite Index, a measure of mortgage loan application volume,… Continue reading Housing Recovery Likely as Home Sales Rise

Buying a Home after Foreclosure

By Lindsey Hadwin Of the millions of Americans who have lost their homes in the foreclosure crisis, many dream of buying a home again. As a result of more than 19.2-million vacant homes nationally, securing a mortgage in the future is possible in less time than ever before. Re-establishing creditworthiness can provide a key to… Continue reading Buying a Home after Foreclosure

Mortgage Rates and Home Buyers Decline

By Cheryl Reams Mortgage rates declined seven-one-hundredths of one percent this week to hover near the record low at an average of 4.72% on a 30 year fixed rate mortgage, while the number of home buyers applying for mortgages also dropped. It is unlikely rates will get lower any time soon. The number of homeowners… Continue reading Mortgage Rates and Home Buyers Decline

Mortgage Rates Barely Budge

By Cheryl Reams Mortgage rates on a conventional 30-year loan barely budged from last week, rising a slim one-hundredth of one percent to 4.79% on average, according to Freddie Mac. Applications for home loans also slowed. The 30-year fixed rate mortgage is the barometer of mortgage rates, remaining at or near its lowest level for… Continue reading Mortgage Rates Barely Budge