By Ryan Jackson Home builder confidence jumped for the fourth straight month in August, according to the National Association of Home Builders. The two point gain builds on a six point jump in July to bring the index to the highest level since February 2007, close to the peak of the housing market collapse. “Current… Continue reading Home Builder Confidence Jumps Four Months
Category: Statistics
1.5 Million Over 50 Lost Homes to Foreclosure
By Mike Colpitts More than 1.5 million U.S. homeowners over the age of 50 lost their homes to foreclosure as a result of banks and Wall Street developing the mortgage crisis, according to a study by the American Association of Retired Persons (AARP). The study surveyed mortgage loan data for 2007 through 2011. The study… Continue reading 1.5 Million Over 50 Lost Homes to Foreclosure
Mortgage Activity Surges on Refinancing
By Mike Colpitts Mortgage rates hit another record low last week, spurring a huge surge in home refinancing as homeowners sought out the lowest loan payments possible. The Mortgage Bankers market composite index jumped 16.9% on a seasonally adjusted basis. Refinancing surged 22% from the prior week and is at the highest level since last… Continue reading Mortgage Activity Surges on Refinancing
Mortgage Rates Set New Records 4 Straight Weeks
By Mike Colpitts Mortgage rates have been setting new record lows four straight weeks as nervousness over the U.S. economy and uncertainty over the European debt crisis send rates lower. The 30-year fixed rate loan hit an average of 3.49% last week for the first time in history, according to Freddie Mac. Rates have been… Continue reading Mortgage Rates Set New Records 4 Straight Weeks
Mortgage Rates Fall to New Record
By Ryan Jackson Driven by falling U.S. Treasuries, mortgage rates fell to their lowest level in U.S. history for the third week in a row as worries over the economy trouble financial markets. The 30-year fixed rate mortgage dropped to average 3.49%, according to Freddie Mac. Rates have been on a one-way move downward since… Continue reading Mortgage Rates Fall to New Record
Rents Rise to Menace Market
Home and apartment rents are rising in the majority of the U.S. and are expected to sustain higher increases over coming months to menace the housing market, according to a survey of residential property managers. The new TransUnion survey found that both large and small property managers are faring better than they were a year… Continue reading Rents Rise to Menace Market
Underwater Homeowners Gain Home Equity
By Mike Colpitts Underwater homeowners, already upside down in the current economy more than ever before are seeing their fortunes turn around, with new data showing a gain in home equity. The upturn in homeowner equity comes as a result of growing home price inflation in some cities and slower equity losses in others. Some… Continue reading Underwater Homeowners Gain Home Equity
Tight Housing Inventory Slows Recovery
By Mike Colpitts A tight inventory of homes restricted by new bank foreclosure procedures and underwater homeowners unable to sell homes slows the U.S. housing market from making a swift recovery. The limited supply of existing homes listed for sale is producing multiple offers in some cities, and sluggish sales in others. Housing inventory has… Continue reading Tight Housing Inventory Slows Recovery
Household Energy Costs Jump 3% Yearly
By Mike Colpitts Household energy costs are jumping almost 3% a year in the U.S. to average $2,024 annually, according to the U.S. Energy Department. The amount it costs to heat and cool a home has been rising steadily since at least 2005, a new study by the department’s information administration shows. Energy expenses are… Continue reading Household Energy Costs Jump 3% Yearly
Summer Home Sales Decline
By Ryan Jackson Despite record low mortgage rates and the lowest home prices in years, existing home sales disappointingly fell for the second straight month in June as consumers remain skittish about the U.S. economy to a seasonally adjusted rate of 4.37 million units. The usually busy summer selling season has gotten off to a… Continue reading Summer Home Sales Decline