Oct 27
Mortgage Rates Haven’t Been This Low Since 2013 The 30-year fixed-rate mortgage took another dip this week, staying below the 4 percent threshold and keeping borrowing costs at the lowest rate in more than a year. It marks the fifth consecutive week that mortgage rates decreased. Freddie Mac reports the following national averages with mortgage …
Oct 24
Housing Is Missing 700K in Sales A drop in single-family home sales – both new-homes and existing-homes – over the past few years equates to a real estate market that is at least 700,000 shy in annual home sales, according to estimates by David Crowe, the chief economist for the National Association of Home Builders. …
Oct 23
Buyers Aren’t Budging for Low Rates Mortgage rates have fallen to their lowest level in nearly 18 months, while mortgage applications for home purchases have fallen 5 percent week-to-week and have dropped about 9 percent from year-ago levels, the Mortgage Bankers Association reports. The national average on the 30-year fixed-rate mortgage dropped to 4.10 percent …
Oct 22
Banks Betting Big on Apartment Projects Lenders dished out $172.5 billion in new mortgages for apartment buildings with five or more units in 2013 — a multifamily lending record, according to a new Mortgage Bankers Association report. It’s an 18 percent gain over 2012 levels, and so far, lending for apartments this year looks likely …
Oct 21
The Commercial Market’s Hot Sector In the U.S. commercial market, analysts are pointing to the sizzling warehouse sector as the industry to watch. Robust leasing for warehouses the last few quarters have prompted developers to scour the nation looking for new sites to accommodate the growth in warehouse demand. The need is growing: Many markets …
Oct 20
Mortgage Rates Dip Below 4% Threshold Borrowing costs sank to the lowest amounts in more than a year as the 30-year-fixed rate mortgage averaged 3.97 percent this week, Freddie Mac reports in its weekly mortgage market survey. The 30-year fixed-rate mortgage is at its lowest average since the week of June 20, 2013, when …
Oct 17
Useful Tips for Clients with Nosy Friends Clients who recently purchased a new home might find themselves in an awkward place when an inquiring mind – a friend, neighbor, colleague, or relative – questions them about the price of their home. Time Inc’s Money magazine has some helpful tips for people who don’t feel …
Oct 16
Lower Mortgage Rates Revive Refinancing Housing Boom As interest rates tumble, home owners are rushing to take advantage of the lowest rates of the year. Overall, mortgage applications rose 5.6 percent on a seasonally adjusted basis during the week ending Oct. 10, led by an 11 percent week-to-week surge in refinance applications, the Mortgage Bankers …
Oct 15
Major Incentives for Home Buyers This Fall. Home builders are throwing in some extras to lure home buyers back this fall. For example, 10 home builders in a new suburban Phoenix community called Bridges at Gilbert are offering swimming pools, built-in barbecues, and subsidized mortgages. Joseph Beben, a home buyer in the Phoenix area, says …
Oct 14
Low Rates Aren’t Enough for Buyers\ Federal Reserve Chair Janet Yellen and housing forecaster Robert Shiller said earlier this year that they expected low rates to serve as a stimulus to home buying this year. Freddie Mac reported the 30-year fixed-rate mortgage dropped to 4.12 percent for the week ending Oct. 9, near the lowest …
Oct 13
30-Year Mortgage Falls Back to Yearly Lows Borrowing costs were down once again this week, giving home buyers another opportunity to lock in some of the lowest rates of the year. Freddie Mac reported the following national mortgage rate averages for the week ending Oct. 9: 30-year fixed-rate mortgages: averaged 4.12 percent, with an average …
Oct 10
Home Owners are Tapping Into Equity, Again Home equity lines of credit surged nearly 20 percent compared to a year ago and are now at the highest level since the 12 months ending in June 2009, according to RealtyTrac’s Home Equity Line of Credit (HELOC) Trends Report. HELOC origination’s comprised 15.4 percent of all loan …
