Mortgage rates on a 30-year fixed rate loan rose slightly for the third week in a row, while rates on adjustable mortgages set new all-time lows, according to Freddie Mac. Rates on the most popular 30-year mortgage experienced a rise to 4.24% with an average of 0.8 points for the week, up from 4.23% a… Continue reading Mortgage Rates Rise Slightly
Category: Statistics
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
Mortgage Rates Climb Modestly
Mortgage rates rose modestly this week on a 30-year fixed rate loan to 4.23% from 4.21% last week, according to Freddie Mac. The average rate on a 15-year fixed rate loan also climbed by a similar margin. Rates had fallen to the lowest they had been since 1951 earlier this month. The average rate on… Continue reading Mortgage Rates Climb Modestly
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
Home Buyer Purchases Surge
Purchases of homes surged to the highest level since May last week, according to the Mortgage Bankers Association as home buying activity showed signs of rising, despite the expiration of the federal tax credit. The seasonally adjusted purchase index rose 9.3% from a week ago as buyers turned out in larger numbers to take advantage… Continue reading Home Buyer Purchases Surge
Pending Home Sales Rise
Second Straight Month By Kevin Chiu Pending home sales rose for the second straight month in August, but are still well off year ago levels, according to the National Association of Realtors. The sale of previously owned homes, condos and townhouses were up 4.3% for the month, reflecting an improving trend for the market. NAR data… Continue reading Pending Home Sales Rise