By Kevin Chiu Mortgage interest rates dropped to the lowest levels since last November on signs that the U.S. economy is weakening further, and is likely to move into another official government defined recession. The housing market in many states throughout the country is already dealing with an economic depression, and has been for more… Continue reading Mortgage Rates Drop to Record Low
Category: Statistics
Mortgage Rates Jump 3 Straight Weeks
By Kevin Chiu Mortgage rates jumped higher for the third straight week as home buyers became skittish about making purchase decisions amid international unrest and doubts about the U.S. economy, according to Freddie Mac. The jump in interest rates on the bench mark 30-year fixed rate loan moved ever closer to 5% at 4.86%, five… Continue reading Mortgage Rates Jump 3 Straight Weeks
Mortgage Interest Rates Drop on Japan Fears
By Mike Colpitts Interest Rates on home mortgages dropped as a result of investor worries over the disaster in Japan and fears of contagion over financial markets falling across the world. Mortgage rates showed a drop across all types of loans offered to home borrowers, according to Freddie Mac. The average rate on a 30-year… Continue reading Mortgage Interest Rates Drop on Japan Fears
Back Slapping Has Little Housing Market Impact
The self congratulatory back slapping the Obama administration is giving itself for efforts made in the nation’s housing market crisis is making little impact on the market, and nobody else is crediting the administration. The government’s data shows progress on the real estate market overhang and shows home sales are rising, but little help when… Continue reading Back Slapping Has Little Housing Market Impact
Home Purchases Stall as Refinancing Grows
Applications for new home mortgages dropped as shopping for homes came to a stall last week, according to the Mortgage Bankers Association. However, refinancing increased to the highest level since last year. The seasonally adjusted purchase index fell 4% from the previous week, while refinances rose 0.9% to hit the best threshold since December. The… Continue reading Home Purchases Stall as Refinancing Grows
Half of Homeowners Qualify for New Mortgage
By Mike Colpitts Only about half of all homeowners would qualify to buy a new mortgage under current more restrictive mortgage lending guidelines. In the U.S. 54% of homeowners with a mortgage would qualify to put 20% down from the sale of their present home, according to Core Logic, which researches the mortgage industry. The… Continue reading Half of Homeowners Qualify for New Mortgage
Wall Street Bankers Should Be Prosecuted, Survey Shows
In an over-whelming show of support Americans want those responsible for sending the U.S. economy into a massive downturn prosecuted by federal authorities, according to a new opinion poll. The finding was determined through the latest Housing Predictor poll, which surveyed visitors over Wall Street bankers actions related to the near freeze of the U.S.… Continue reading Wall Street Bankers Should Be Prosecuted, Survey Shows
Mortgage Rates Jump Higher Amid Unrest
By Kevin Chiu Pressured by unrest in the Middle East and fallout over disasters in Japan, mortgage rates jumped higher during the week as lenders became increasingly concerned about world finance markets, according to Freddie Mac. The average rate on a fixed 30-year mortgage had a jump of .05 basis points to an average of… Continue reading Mortgage Rates Jump Higher Amid Unrest
Trump Should Hang it Up for President
By Kevin Chiu It was a decisive poll. Apparently Americans have seen enough of Donald Trump. A huge percentage surveyed say they don’t want to see “The Donald” run for U.S. President and he should hang it up. Nearly two out of three or 64% polled said the real estate billionaire should not run for… Continue reading Trump Should Hang it Up for President
FHA Hike Triggers Home Buyers Surge
By Mike Colpitts A surge in home buying activity is expected to develop as a result of the Federal Housing Administration’s announcement that it will increase charges to home buyers for upfront mortgage fees. The cost of mortgage insurance premiums will rise by 75 basis points April 1st. The increase translates to $750 for every… Continue reading FHA Hike Triggers Home Buyers Surge