By Kevin Chiu Troubled by high long term unemployment worries, financial markets set the stage for another drop in mortgage rates this week, sending rates to a new historic record low. The average 30-year fixed rate home mortgage dropped to 3.89%, down from 3.91% last week, according to Freddie Mac. Mortgage interest rates are at… Continue reading Mortgage Rates Set New Record Low
Category: Statistics
Mortgage Rates Tick Lower
By Kevin Chiu Mortgage rates, already at their lowest levels on record, ticked a single basis point lower on the fixed rate 30-year mortgage, according to Freddie Mac. The weekly survey showed that the heavily watched mortgage average edged slightly lower to 3.88% to a new all-time record low. However, the shorter 15-year fixed rate… Continue reading Mortgage Rates Tick Lower
Cash Buyers Pushing Home Prices Lower
By Mike Colpitts Cash buyers are putting undue downward pressure on home prices, and sending the values on homes much lower than would otherwise be developing, according to a survey by Campbell Inside Mortgage Finance. The firms Housing Pulse Tracking Survey is taken monthly. The December survey also showed that many of the purchasers are… Continue reading Cash Buyers Pushing Home Prices Lower
The Next Big Real Estate Boom Includes Oil
By Mike Colpitts The next big real estate boom might not be in such a pretty place – unless you consider shale formations of grey crumbling rock a thing of beauty. But an unlikely region of the remote northern U.S. holds a fortune for America’s future. It’s the biggest oil discovery since Prudhoe Bay, Alaska… Continue reading The Next Big Real Estate Boom Includes Oil
Real Estate Sales Jump to End Year Higher
By Mike Colpitts The year ended with a bang in real estate as existing home sales jumped 5% in December to end 2011 with the third straight month of higher sales, according to the National Association of Realtors. Low mortgage rates and lower home prices pushed sales to a seasonally adjusted rate of 4.61 million… Continue reading Real Estate Sales Jump to End Year Higher
Mortgage Rates to Stay Near Record Lows
By Mike Colpitts Mortgage rates, hovering at record lows for nearly three weeks, should remain close to their all-time low levels for most of at least 2012. That’s the evaluation of Housing Predictor analysts after reviewing rate levels and the challenges the U.S. economy is facing. In an effort to keep mortgage rates low and… Continue reading Mortgage Rates to Stay Near Record Lows
Refinances Leap to New High on Low Mortgage Rates
By Kevin Chiu Refinancing mortgages leaped to a new high as homeowners came out in force to obtain lower mortgage rates prompted by the recently introduced Obama administration refinance program, according to the Mortgage Bankers Association. The jump in loan applications came as borrowing costs hit record low rates. Refinances saw a leap of 26.4%… Continue reading Refinances Leap to New High on Low Mortgage Rates
Record Low Mortgage Rates Push Pick Up
By Mike Colpitts Driven by an increase in home purchases, mortgage applications picked up for the week as buyers took advantage of record low mortgage rates, according to the Mortgage Bankers Association. The sharp increase in home sales accounted for an 8.1% rise in mortgage applications after the holiday week placed by home buyers for… Continue reading Record Low Mortgage Rates Push Pick Up
Mortgage Rates Equal Record Lows
By Mike Colpitts Mortgage rates are celebrating the New Year at their all-time record lows. The 30-year fixed rate averaged 3.91% to match its record low as Treasury bond yields remain near their lows with growing signs of improvement in U.S. manufacturing. It’s the fifth straight week that average rates have remained under 4.00% on… Continue reading Mortgage Rates Equal Record Lows
Record High Crop Prices Inflate Home Values
By Mike Colpitts Record high prices farmers are being paid for crops in the Mid-West are pressuring home prices, and are forecast to inflate home values as the real estate collapse moves closer to an end for part of the U.S. in 2012, according to the new Housing Predictor annual forecast. In all, a total… Continue reading Record High Crop Prices Inflate Home Values