Category: Statistics

Home Purchases Rise as Mortgage Rates Jump

By Mike Colpitts Mortgage applications to buy a home shot up more than 14% for the latest week reported by the Mortgage Bankers Association, indicating a major jump in home buying activity driven by near record low mortgage rates that are moving higher. Mortgage rates have slowly moved upward since hitting a record low of… Continue reading Home Purchases Rise as Mortgage Rates Jump

Home Sales Decline in October

Home sales declined in October after climbing for two straight months, according to the National Association of Realtors. Existing home sales are also nearly 26% below the pace a year ago when the federal tax credit was in effect. Sales on residential properties declined to a seasonally adjusted rate of 4.43-million for the month, a… Continue reading Home Sales Decline in October

Home Purchases Rise, while Refinances Decline

Home purchase applications for new mortgages rose slightly, while refinancing shrank for the third straight week, indicating that after months of homeowners refinancing mortgages to lower less expensive loans the surge in refinances may finally be coming to an end, according to the Mortgage Bankers Association. Refinances slipped 6.4% for the week ending Oct. 29th… Continue reading Home Purchases Rise, while Refinances Decline

First Home Price Decline in Year

Core Logic, a heavily viewed monitor of U.S. home prices said its home price index dropped for the first time in 2010 in August, sending prices just 1.5% lower for the year. However, the index also showed positive appreciation in more than a handful of states. The Core Logic index has had an unusually low… Continue reading First Home Price Decline in Year

Refinance Mortgages at Lowest Rates in Decades

Mortgage rates are near their lowest levels in decades, although they have risen slightly since hitting all time lows in mid-October. The rate on a 30-year fixed rate mortgage hit 4.19%, the lowest since 1951, according to the Federal Housing Administration. A small rise in rates has produced an increase in home refinances, which represents… Continue reading Refinance Mortgages at Lowest Rates in Decades

Mortgage Rate Falls to Historic Low

The 30-year fixed rate mortgage fell again to break the all-time low average, hitting 4.19% down .08 from last week, according to Freddie Mac. The last time rates were this low was in April of 1951, according to the Federal Housing Administration. The 30-year fixed mortgage has been under 5% for 23 straight weeks. The… Continue reading Mortgage Rate Falls to Historic Low

Home Sales Jump Second Straight Month

By Mike Colpitts Home sales jumped in September for the second straight month in a row, showing a recovery in the sale of existing homes, according to the National Association of Realtors, even while the inventory of homes listed for sale out-weighs market demand. The sale of single family homes, condos and townhouses reached an… Continue reading Home Sales Jump Second Straight Month

Despite State Tax Credit California Home Sales Decline

By Kevin Chiu Despite a special state home buyer tax credit, sales of homes in California declined more than 17% from a year ago in September, according to San Diego based real estate research firm DataQuick. The median price for a California home is $265,000, which is 5.6% higher for the year. But with a… Continue reading Despite State Tax Credit California Home Sales Decline