By Ryan Jackson Home builder confidence rose to the highest point in nearly five years in June as builder sentiment grew with an increase in walk-in traffic. The National Association of Home Builders Index reached 32, hitting its highest level since the housing downturn started in May of 2007. The components measuring sales expectations in… Continue reading Home Builders Confidence Reaches 5 Year High
Category: Statistics
Half of Homeowners Spend $75,000 on Housing Expenses Annually
By Mike Colpitts Nearly half of U.S. homeowners with a mortgage spent $75,000 or more on housing expenses in 2010, according to data provided by the U.S. Census Bureau. The staggering amount represents 49.2% of homeowners with a mortgage in 2010, the most current government figures available. The just uncovered statistic shows just home many… Continue reading Half of Homeowners Spend $75,000 on Housing Expenses Annually
Mortgage Rates Fall to Record Lows Five Weeks Straight
By Mike Colpitts U.S. Treasury bonds hitting their lowest levels in all-time history sent mortgage rates to record all-time lows again this week. The 30-year fixed rate mortgage dropped to an average of 3.75% in the Freddie Mac survey. It was the fifth straight week that mortgage rates hit new record all-time lows. The rate… Continue reading Mortgage Rates Fall to Record Lows Five Weeks Straight
Refinances Soar Three Straight Weeks
By Mike Colpitts Fueled by record low mortgage rates, refinances soared for the third straight week as consumers applied for new home mortgages to take advantage of lower mortgage payments, according to the Mortgage Bankers Association. The jump in refinancing, which rose 5.6% for the week ending May 18, is being sparked by the lowest… Continue reading Refinances Soar Three Straight Weeks
Research Firm Says Real Estate Stabilizing
By Mike Colpitts Almost six years after the U.S. housing market began its collapse, one of the nation’s largest real estate research firms says the housing market is making strides towards stabilizing and may be close to a bottom of the market. CoreLogic analysts say the U.S. housing market “is transitioning to more stability in… Continue reading Research Firm Says Real Estate Stabilizing
One-Third of US Homeowners Underwater
By Mike Colpitts Nearly one out of three homeowners with a mortgage are underwater or owe more on their homes than they are presently worth, according to new research by Zillow economists. The figure represents almost 16 million U.S. mortgage holders struggling to pay home loans. However, foreclosure is not imminent for most underwater homeowners,… Continue reading One-Third of US Homeowners Underwater
Mortgage Rates Fall Four Straight Weeks
By Ryan Jackson Key mortgage rates fell for the fourth straight week as consumer interest to take out mortgages slowed because of the holiday weekend. The average rate on a fully executed 30-year fixed rate mortgage dropped to 3.91%, the lowest in the history of the Mortgage Bankers survey. Economists attribute the drop in rates… Continue reading Mortgage Rates Fall Four Straight Weeks
Healing Real Estate Market Behind the Numbers
By Ryan Jackson The bread and butter of the housing market, single family home sales rose just 3% in April to 4.09 million units, according to the National Association of Realtors. Although the increase represents an improvement for the U.S. housing market, it shows a healing upturn in the pace of sales going into the… Continue reading Healing Real Estate Market Behind the Numbers
History Breaking Mortgage Rates Dip
By Mike Colpitts The history breaking spree runs on for U.S. mortgage rates as the 30-year fixed rate loan experienced a slight dip, dropping a single basis point from last week to 3.78%, according to Freddie Mac. The rate on the 15-year fixed mortgage held steady at 3.04%. The 5-year adjustable rate mortgage averaged 2.83%,… Continue reading History Breaking Mortgage Rates Dip
Mortgage Reductions Crucial to Economic Recovery
By Kevin Chiu Troubled by an economy with a series of problems, the U.S. needs to face reality that its financial system is so problematic that mortgage principal reductions for homeowners at risk of default are the only route to getting the nation’s economy back on track. The rate on a 30-year fixed rate mortgage… Continue reading Mortgage Reductions Crucial to Economic Recovery