Mortgage applications for refinancing Soar to 3-Year Highs. Mortgage applications for refinancing and home purchases posted strong gains this week following news of record low interest rates, the Mortgage Bankers Association reports in its weekly mortgage market survey. The gains were led by a surge in applications for refinancings. Mortgage applications for refinancing rose to their highest …
Tag: News
Oct 02
Home Builders give Hopeful Buyers Financial Therapy
Home Builders give Hopeful Buyers Financial Therapy. Home builders are conducting financial boot camps to help buyers qualify for home mortgages. Home builders such as D.R. Horton Inc., Lennar, and PulteGroup Inc. are offering financial programs about repairing credit scores, creating budgets, and applying for loans to hopeful home buyers who are struggling to qualify for …
Oct 02
Home Ownership Rate Stands at 65.5%
Home Ownership Rate Stands at 65.5% Americans still favor home ownership. The U.S. home ownership rate continues to remain around 65.5 percent, the U.S. Census Bureau reported late last week. The home ownership rate is nearly the same as it was in the second quarter of 2011 at 65.9 percent. The Census Bureau also reported …
Sep 28
New Home Prices Soar to 5-Year High
New Home Prices Soar to 5-Year High The median price of a new home rose a record-breaking 11.2 percent in August, reaching $256,000. That marks the highest level since March 2007, the U.S. Census Bureau reported Wednesday. The prices of a new home in August soared 17 percent compared to last year at this time. …
Sep 28
Loan Applications Rise as Rates Reach Record Lows
Loan Applications Rise as Rates Reach Record Lows. More home owners and purchasers took advantage of locking in last week’s record low rates. Mortgage Loan Applications — which include both for refinancing and purchase — rose 2.8 percent for the week ending Sept. 21, the Mortgage Bankers Association reports. Mortgage Loan Applications for home purchases, an indicator …
Sep 27
Home Prices Continue to Rise Over Last Year’s Levels
Home Prices Continue to Rise Over Last Year’s Levels More housing reports released on Tuesday showed Home Prices Continue to Rise. The Federal Housing Finance Agency reported that U.S. home prices increased 3.7 percent from a year ago in the 12-month period ending in July. FHFA’s home price index is now at about the same …
Sep 27
Credit Scores Can Differ From What Lenders Use
Credit Scores Can Differ From What Lenders Use When reviewing their credit scores, one in five consumers are likely to receive a different credit score from what a creditor will use to price a loan, according to the Consumer Financial Protection Bureau. The discrepancy has the agency concerned. Lenders use credit scores to help determine …
Sep 25
How High Will Housing Prices Be in 2016?
How High Will Housing Prices Be in 2016? A quarterly survey of more than 100 economists shows growing optimism for the real estate market when it comes to housing prices. The majority of the economists surveyed say they expect home prices to steadily increase for the next four years. The economists surveyed expect Housing prices to …
Sep 25
How to Avoid Common Closing Snafus
How to Avoid Common Closing Snafus Closing delays have reportedly been a rising problem in the real estate industry, from properties not appraising at the agreed upon selling price to financing problems. Columnist Dirk Zeller, a real estate author and sales coach, says that documentation and verification is a common sticking point at closing. “Lenders …
Sep 24
Housing recovery… A good week for it!
Housing recovery… A good week for it! The housing recovery showed signs of strengthening this week, as two new reports showed home sales and prices on the upswing. Existing-home sales have soared nearly 8 percent from a year ago, the National Association of REALTORS® reported this week proving the Housing recovery is on the upswing. …
Sep 21
Home Buyers Canceling Contracts?
Home Buyers Canceling Contracts? With a high number of Home Buyers Canceling Contracts, even as the housing market picks up and sales are on a rise, new data from Capital Economics shows. Nearly 18 percent of signed contracts on existing home sales were canceled from May through July. What’s more, 36 percent of real estate …
Sep 21
Home building Bounces Back in August
Home building Bounces Back in August. Home building Bounces Back for single-family homes was at its fastest pace in more than two years during August, as the new-home market continues on in recovery mode. The Commerce Department reported Wednesday that single-family housing starts soared 5.5 percent, marking the best pace since April 2010. Construction of homes …
