By Mike Colpitts In a record breaking move, mortgage rates dropped to the lowest level in U.S. history this week as rates paid for Treasury bonds pushed rates lower. The rate on a conventional 30-year fixed rate mortgage fell to an average of 3.79%, four basis points below last week’s all-time record low, according to… Continue reading Mortgage Rates Drop to Historic Lows
Category: Statistics
Home Sales Jump in April
By Mike Colpitts Existing home sales jumped for the first time in three months in April, rising 3.4% to a seasonally adjusted rate of 4.62 million units, and are 10% higher than a year ago, according to the National Association of Realtors. Home prices also showed some improvement. However, homes listed on the market for… Continue reading Home Sales Jump in April
Pest Problems Bug Homeowners Early
By Ryan Jackson An over-whelming majority of homeowners are experiencing pest problems as a result of warmer weather in much of the U.S., according to a new study. Nearly half had problems with ants, while other bugs, including spiders and flies were most common. The study was conducted by Home Team Pest Defense, the third… Continue reading Pest Problems Bug Homeowners Early
Home Purchases Jump Two Weeks
By Mike Colpitts Led by a jump in conventional mortgage applications, home purchases rose for the second week in a row signaling a positive turn for the U.S. housing market, according to the Mortgage Bankers Association weekly index. Pushed by record all-time low mortgage rates, buyers turned out to take advantage of the historically low… Continue reading Home Purchases Jump Two Weeks
Recovery Pushes Foreclosures Lower 3 Months
By Mike Colpitts In a sign the U.S. housing market is on the road to recovery, foreclosures dropped for the third month in a row in April, despite a traceable increase in repossessions along the eastern U.S. coast. Initial notices of default were filed against 188,780 residential properties, the lowest since July 2007. Final bank… Continue reading Recovery Pushes Foreclosures Lower 3 Months
More Than Half of Homeowners Can’t Move
More than half of all homeowners with a mortgage are unable to move or make a change in their housing situation as a direct result of being underwater on a mortgage, according to a new Housing Predictor survey. Some 54% of those surveyed online said they were halted from making a move. The other 46%… Continue reading More Than Half of Homeowners Can’t Move
Mortgage Rates Ease Lower
By Mike Colpitts Uncertainty over the U.S. economy and lower rates paid to investors on U.S. Treasuries sent mortgage rates lower for the week, hitting 3.88% on a 30-year fixed rate mortgage, which is just one basis point off of its all-time record low, according to Freddie Mac. Rates have now been under 4% for… Continue reading Mortgage Rates Ease Lower
Kiddie Home Purchases Jump
By Mike Colpitts A tight mortgage market has triggered a jump in parents, grandparents and other relatives helping younger home buyers qualify for a home loan. Baby boomer parents have helped a son or daughter to purchase a home by co-signing for a mortgage, supplying down payments or purchasing a home outright in 20% of… Continue reading Kiddie Home Purchases Jump
Refinances Lead Mortgage Rebound
By Ryan Jackson Refinancing led a rebound in mortgage financing last week as homeowners applied for mortgages at the highest rate in at least two months, according to the Mortgage Bankers Association. Refinances jumped 13.5% from the previous week. Near record low mortgage rates got homeowners seeking refinances off the sidelines to take advantage of… Continue reading Refinances Lead Mortgage Rebound
Mortgages Slow Despite Rate Drop
By Mike Colpitts Growing doubts about the U.S. economy and weakness in the job sector slowed mortgage application activity last week, despite a drop in key mortgage rates being offered by lenders, according to the Mortgage Bankers Association. The market composite index, a combination of both refinances and home purchase applications dropped 3.8%. But the… Continue reading Mortgages Slow Despite Rate Drop