By Mike Colpitts Home sales rose during the first quarter of the year in 49 states as home prices fell in most areas of the U.S. from a year ago, according to the National Association of Realtors. The median price of a home fell in 118 of 153 metropolitan statistical areas the organization tracks. Existing… Continue reading U.S. Home Sales Rise as Prices Fall
Category: Statistics
Refinancing Soars On Lower Mortgage Rates
By Kevin Chiu A five week drop in mortgage interest rates grabbed the attention of homeowners who are refinancing at the highest level since last December as refinances soared 13.2% for the week, according to the Mortgage Bankers Association. Mortgage applications for refinancing and new home loans combined rose 7.8% as the spring home buying… Continue reading Refinancing Soars On Lower Mortgage Rates
Interest Rates Fall Four Straight Weeks
By Mike Colpitts Mortgage interest rates fell for the fourth straight week to the lowest level of the year as an over supply of homes on the market pressure lenders’ to keep rates low to draw more buyers back into the market. The rate on a 30-year fixed rate mortgage had a fall of 0.08… Continue reading Interest Rates Fall Four Straight Weeks
Best Time to Steal Real Estate
By Kevin Chiu How many times have you heard there isn’t a better time to buy real estate than now? Drummed up by the real estate industry, it’s as old and trite a saying as we get over decades of propaganda. But with prices at lows that haven’t been seen in more than a decade… Continue reading Best Time to Steal Real Estate
New Home Sales May Have Hit Bottom
By Kevin Chiu The housing market has some good news to celebrate after the Commerce Department reported a new home sales increase of 11.1% in March, which may represent a bottom for the new home sales market. The rise in sales reached an adjusted rate of 300,000 homes, but still remains below the 700,000 annual… Continue reading New Home Sales May Have Hit Bottom
Freddie Mac Buys Fewer Mortgages
By Mike Colpitts Already on a path to reduce the number of mortgages it buys, Freddie Mac purchased fewer loans in March, reducing its share of the mortgage market as calls to eliminate the government sponsored lender increased in Congress. The number of mortgages Freddie Mac bought in March dropped 4.7% for the month to… Continue reading Freddie Mac Buys Fewer Mortgages
Mortgage Interest Rates Tumble
By Karen Hanson Mortgage interest rates tumbled for the week as home buyers turned out in greater numbers as a result of warmer spring time weather in much of the U.S. The rate on a 30-year fixed rate mortgage fell to 4.80%, a tumble of 0.11 for the week after four straight weeks of rate… Continue reading Mortgage Interest Rates Tumble
Survey Shows Mixed Results on Handling Foreclosures
Respondents to a new Housing Predictor survey seem as divided as Congress on how to handle the growing foreclosure crisis. However, the largest percentage or 41% of those who took the survey said that the U.S. government should just let homeowners in default on mortgages get foreclosed. The mixed outcome comes as the foreclosure crisis… Continue reading Survey Shows Mixed Results on Handling Foreclosures
More Lose Money Investing in Real Estate
Despite conventional wisdom being that real estate is one of the safest investments that can be made, slightly more people have lost money investing in real estate than have cashed out a profit, according to a new Housing Predictor poll. The online survey found that 37% of respondents have lost money as a result of… Continue reading More Lose Money Investing in Real Estate
Almost Half Are Distress Sales
By Mike Colpitts Nearly half of all U.S. home sales are now either foreclosures or bank-assisted short sales, according to the Campbell Inside Mortgage Finance survey taken monthly. Distress sales composed 48.6% of sales in March. The survey polls more than 3,000 real estate agents and brokers monthly. The latest poll also found that buyer… Continue reading Almost Half Are Distress Sales