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
Category: Statistics
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
Mortgage Rates Drop to Historic Lows
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
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