By Mike Colpitts Home sales rose for the third straight month as lower home prices and near record low mortgage rates drove more buyers back into the market, according to the National Association of Realtors. Existing sales of single family homes, townhouses, condominiums and co-ops tracked by the association increased 2.7% to a seasonally adjusted… Continue reading Home Sales Rose Third Straight Month
Category: Statistics
Majority Believe in Free Market Miracle
A majority of those polled say that U.S. policy makers in Washington, D.C. should stop trying to implement programs to aid the troubled housing market, and let free market forces work things out alone. Apparently the majority believe that somehow a miracle will heal the real estate market plagued by years of Wall Street, bank… Continue reading Majority Believe in Free Market Miracle
Donald Trump Runs for President
By Mike Colpitts The political winds that got the U.S. into the financial mess may actually have a chance to change. Donald Trump has all but announced he’s running for president. The real estate mogul is starting to work the TV talk show circuit in preparation for a June announcement that he will compete against… Continue reading Donald Trump Runs for President
Mortgage Rate Drops to Magic 5%
By Mike Colpitts Mortgage rates moved in the right direction for home buyers this week as rates showed a drop in all categories, breaking a month long increase in rates, according to Freddie Mac. A 30-year fixed rate mortgage declined to 5.0%, a slim 0.05 decrease from last week, which represents a magic number for… Continue reading Mortgage Rate Drops to Magic 5%
Mortgage Rates Scare Off Home Buyers
By Kevin Chiu Higher mortgage rates coupled with a weak economy and uncertainty over the troubled housing market scared off home buyers from taking action, according to the Mortgage Bankers Association as applications for mortgages took a major plunge. Mortgage loan volume dropped 9.5% for the week as refinances took the largest dip since July… Continue reading Mortgage Rates Scare Off Home Buyers
Cash Buyers are King
By Mike Colpitts Pent up buyer demand and much lower housing prices are driving a frenzy of sorts in some home markets as cash buyers turn out in droves to buy up properties on the cheap. Cash is once again king in the real estate market. When markets take a downturn cash buyers snap up… Continue reading Cash Buyers are King
Freddie Mac and Fannie Mae Reduced in Housing Plan
By Mike Colpitts The role of the nation’s two mortgage giants, Freddie Mac and Fannie Mae will be reduced under the long awaited housing finance reform plan proposed by the Obama administration. The proposal will also slash the amount of government-backed mortgages that are guaranteed and is intended to more widely open the market to… Continue reading Freddie Mac and Fannie Mae Reduced in Housing Plan