RealtyTrac’s 2009 Foreclosure Report Gives Reason For Optimism
Like real estate, it appears that foreclosure activity is a local phenomenon, too. As reported by RealtyTrac.com, more than half of all foreclosure-related activity in 2009 came from just 4 states: California Florida Arizona Illinois More than 1.4 million filings made in 2009 are attributed to the above states. Furthermore, each ranks in the Top [...]
10 Cities For Home Bargains
As the housing market improves across the country, certain cities are emerging as relative bargains. Some areas, like Miami, were hit hard by the recession, and other areas are buoyed by good school systems and strong labor markets. In this 5-minute video from The Today Show, 10 cities are highlighted for their home prices. And [...]
The Bad Jobs Report Wasn’t All Bad — Mortgage Rates Fell
Despite the headlines, it’s important to remember that December’s jobs report wasn’t all bad news. Sure, the economy shed 85,000 jobs last month and the Unemployment Rate failed to dip below 10%, but for home buyers and rate shoppers , the news was just fine. The soft employment data led mortgage rates lower, making homes [...]
What’s Ahead For Mortgage Rates This Week : January 11, 2010
Data was sparse through 2010′s first trading week last week, setting the stage for a week of momentum trading. In up-and-down trading, mortgage pricing improved overall but the best rates of the week didn’t last long. Rates improved Monday and Tuesday as an oversold market corrected itself to better price points. Then, in anticipation of [...]
2010 FHA Loan Limits Released
FHA home loans are federal assistance mortgages made by lenders, and backed by the government. The FHA doesn’t make loans to homeowners — it insures loans made to homeowners by federally-qualified lenders. By all accounts, FHA home loans are surging in popularity. 2006, FHA insured 3.3% of all mortgages made Q2 2009, FHA insured 19.2% [...]
Upon Closer Inspection, The Federal Reserve Isn’t 100% Positive About The Future Of The Economy
Both mortgage rates and home affordability took a turn for the better Wednesday after the Federal Reserve released its December 15-16, 2009 meeting minutes. The Fed Minutes is a follow-up piece to the post-FOMC meeting press release. But whereas the press release is succinct and to-the-point, the minutes are lengthy and often meandering. As a [...]
Home Buyers Get A Green Light : Pending Home Sales Plunge In November
Just one month after touching a 3-year high, the National Association of Realtors® Pending Home Sales index plunged in November. A “pending” home sale is a home that is under contract to sell, but has yet to close. The 16 percent drop marks the first retreat in Pending Home Sales since January of last year. [...]
Looking At The 2010 Predictions For Housing Markets And Mortgage Rates
2010 is just a few days old and already the “experts” are making predictions for the year. Housing calls and mortgage rate predictions run the gamut: Home prices will fall in 2010 Home prices will rise in 2010 Mortgage rates will rise in 2010 Mortgage rates will rise by a lot in 2010 Given how [...]
What’s Ahead For Mortgage Rates This Week : January 4, 2010
Mortgage markets were relatively flat last week during holiday-shortened trading. After starting the week with a Monday surge higher, mortgage rates settled down through Tuesday and remained somewhat flat into the early-close for New Year’s Eve. However, as compared to the 4-month low posted post-Thanksgiving, conforming mortgage pricing has now worsened by more than 300 [...]