By Mike Colpitts All cash sales of homes, which accounted for one in three transactions just a year ago are slowly slipping as home shoppers searching for bargain priced properties run low on cash. The slip in cash sales sent closed transactions in May to account for just 28% of home sales, according to the… Continue reading All Cash Sales Slowly Slip
Category: Statistics
Mortgage Rates Hold Steady at Record Lows
By Mike Colpitts Mortgage rates held steady to maintain record low levels, with the 30-year fixed rate mortgage staying at an average of 3.66% for the second week in a row, according to Freddie Mac. The shorter term 15-year fixed loan slipped a single basis point to 2.94%. Many consumers refinancing homes are opting for… Continue reading Mortgage Rates Hold Steady at Record Lows
New Home Sales Jump
By Mike Colpitts Single family new homes sales rose 7.6% in May to a seasonally adjusted rate of 369,000 units, according to the U.S. Census Bureau. The data reflects the first jump in actual new home sales in three months after disappointing spring home sales soured home builders. The Northeast and South posted a solid… Continue reading New Home Sales Jump
Half of US Homes Underwater
A newly released survey shows that more than half of all U.S. homes with a mortgage are underwater or owe more on their homes than the current value of their property. The study is the strongest indicator yet that efforts made by the Obama administration are doing little to aid U.S. homeowners in the worst… Continue reading Half of US Homes Underwater
Home Builders Confidence Reaches 5 Year High
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
Research Firms Agree Home Prices Are Rising
By Mike Colpitts In a major positive sign for the U.S. housing market, the two largest real estate research firms tracking the market agree that average home prices have increased for the first time since the real estate collapse more than five years ago. California based CoreLogic and Florida based Lender Processing Services say home… Continue reading Research Firms Agree Home Prices Are Rising
Mortgage Rates Jump After Hitting Record Lows
By Ryan Jackson For the first time in more than two months, mortgage rates jumped higher as lenders reversed course, setting the average rate for a fixed 30-year mortgage at 3.71%, according to Freddie Mac. The shift could signal a change in rates to come. The rate on the 15-year fixed also saw a jump… Continue reading Mortgage Rates Jump After Hitting Record Lows
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
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
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