Jun 20
Loan Demand Falls as Rates Continue to Edge Up. Mortgage rates rose to their highest level in more than a year, which decreased demand for home loans last week, the Mortgage Bankers Association reports. Mortgage applications for home purchases, considered a leading indicator of future home sales, dropped 3 percent last week. Meanwhile, mortgage applications …
Jun 19
Housing Markets turn around. Kiplinger Personal Finance recently singled out 12 metro areas’ housing markets as faring the best in 2012. Kiplinger attributed strengthening economies, below-average unemployment rates, and increasing buyer confidence as turning these metros into seller’s markets. The 12 metros are: Phoenix Provo, Utah Cape Coral-Ft. Myers, Fla. Minneapolis Akron, Ohio Youngstown, …
Jun 19
Big Milestone in Home builder Confidence. Home builder confidence is at its highest level in seven years, reaching a big milestone in June, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The index, which measures home builder sentiment over the new-home market, rose eight points in June to 52 — …
May 23
3 Million New Home Owners Could be on the Horizon The National Association of Hispanic Real Estate Professionals estimates that immigration reform could bring an estimated pool of 3 million new home owners into the market. The nonprofit trade association estimates that current legislation proposing to give legal status to some immigrants has the potential …
May 23
Mortgage Applications Tumble as Rates Rise. Mortgage applications last week dropped 10 percent after rates soared to their highest level since March, the Mortgage Bankers Association reported in its weekly mortgage market survey for the week ending May 17. The refinance index—which reflects applications for refinancing—fell 12 percent last week, while applications for home purchases …
May 10
Solo Home Buyers Re-emerge. Individual home buyers comprised a quarter of all house purchases last year, according to National Association of REALTORS® data. Single women purchase homes at double the rate of single men, according to the data. However, solo buyers can face particular challenges in qualifying for a mortgage. During and following the …
May 10
10 Cities With the Worst Traffic Congestion The average American spent a total of 28 hours sitting in traffic last year, according to INRIX, a traffic information group. But residents in some of the nation’s most congested cities spent nearly double that—an average of 42 hours a year—sitting in traffic. In its 2012 Traffic …
May 09
Are Underpriced Homes Fueling Bidding Wars? The number of homes for sale is at the lowest point in more than 10 years, but with buyer demand still high, many markets are seeing bidding wars. A TIME magazine article recently asked: “Are buyers being manipulated into overbidding for the relatively few attractive homes on the …
May 09
More Americans Optimistic About Housing Recovery. More than half of Americans — 51 percent — now say they expect home prices to increase within the next year, according to a survey by mortgage giant Fannie Mae of about 1,000 Americans’ attitudes toward housing. “For the first time in the survey’s three-year history, the majority …
May 08
Improving Market List Drops Slightly in May. The Improving Markets Index fell to 258 metros in May from 273 in April, but continues to reflect metros from every state as well as the District of Columbia, according to the National Association of Home Builders and First American. The Improving Markets Index identifies the metro …
May 08
Big Job Boom Expected in Homebuilding. Between 2006 and 2011, residential construction jobs saw a 41 percent drop, as the new-home market faced steep losses. However, a big rebound is expected to be on the horizon in homebuilding. Housing starts are expected to return to normal levels by 2016, and with that prediction residential …
May 07
4 Threats That Remain in Housing Recovery. The housing recovery appears to be on track and growing stronger. Home sales and prices are up after reaching bottom in 2010, foreclosures and mortgage delinquencies are dropping, yet housing affordability still remains high. So why are some analysts and economists concerned? At a recent Milken Institute …
