By Kevin Chiu Home mortgage purchase applications fell for nearly two straight months. The plunge in home sales was evident to real estate economists, yet those polled for the survey some how refused to see the evidence for what it was. Refinancing mortgages is becoming the main-stay of the mortgage business, indicating that homeowners who… Continue reading Outrage Rises over Sinking Home Prices
Category: Sales
Mortgage Rates Lower Record
Mortgage rates dropped for the ninth time in the last 10 weeks to another low record amid growing worries that the U.S. economy is weakening, according to Freddie Mac. The rate on a 30-year fixed rate mortgage fell to 4.36%. The rate was 4.42% last week. It’s the lowest since Freddie Mac has been keeping… Continue reading Mortgage Rates Lower Record
Miami Condo Sales Soar
By Kevin Chiu Once the nation’s epicenter in the real estate collapse Miami, Florida condo sales are soaring, up 43% over year ago levels, according to the Miami Association of Realtors. The Miami housing market has now experienced rising sales for nearly two straight years. Miami ’s condominium market tanked even before the financial crisis… Continue reading Miami Condo Sales Soar
Homes Sales Decline Amid Deeper Economic Worries
By Mike Colpitts Home sales declined sharply in July after the expiration of the home buyer tax credit, falling 27.2% to the lowest level in 15 years, according to the National Association of Realtors. The fall in existing sales was widely anticipated among real estate analysts, who expect deeper economic worries as a result of… Continue reading Homes Sales Decline Amid Deeper Economic Worries
Home Market Recovery in 7 States
It may seem like it’s been a gruelingly long time, but housing markets are recovering from their crash in seven states, adding another two states to the list in recovery. Nebraska and Pennsylvania join the line-up leading the U.S. out of the downturn. Despite a national slow down in home sales since the tax credit… Continue reading Home Market Recovery in 7 States
Mortgage Rates Drop to New Low Again
Mortgage rates dropped to another record low at 4.42% for the week, the ninth straight week the 30-year fixed rate mortgage has moved lower or stayed the same, according to Freddie Mac. The 5-year adjustable rate mortgage remained at the same rate it was a week ago. The 30-year mortgage moved down just .02% for… Continue reading Mortgage Rates Drop to New Low Again
Refinances Lead Mortgage Surge
A huge surge in the volume of refinancing applications, triggered by record low mortgage rates may indicate improving market conditions are developing. The combined Mortgage Bankers Association index increased 13% over the previous week. Refinancing rose a mammoth 17.1% for the week to reach its highest level since May of 2009 as all-time low mortgage… Continue reading Refinances Lead Mortgage Surge
Mortgage Rates Strike New Record Low
Mortgage rates hit a new record low for the week at 4.54%, according to Freddie Mac down from 4.56% last week as lenders try to attract more home buyers back to the market. The rate for a 30-year fixed rate mortgage was 5.25% a year ago. Rates have been tracked by Freddie Mac since 1971.… Continue reading Mortgage Rates Strike New Record Low
Housing Resale Fees Next Wall Street Rip-Off
A coalition of real estate related companies have launched an effort to stop a 1% home resale fee added to some new home developments being offered by a Manhattan based financial firm by sending a letter to U.S. Treasury Secretary Tim Geithner. The effort was revealed during a news conference with reporters, which included the… Continue reading Housing Resale Fees Next Wall Street Rip-Off
Mortgages Applications Decline as Refinances Slow
Despite record low interest rates, mortgage applications declined for the first time in weeks last week, including an unexpected slow down in applications for home refinances, the Mortgage Bankers Association said. Applications declined 4.4% on a seasonally adjusted basis from a week ago, and a whopping 5.9% on refinancing alone. The decline marks a slowdown… Continue reading Mortgages Applications Decline as Refinances Slow