Blog
Economy Speeds Up In First Quarter
According to last week's report from the Commerce Department, the economy is speeding up, and output has expanded to an annualized pace of 2.5%, compared to an annual growth pace of 0.45% in late 2012. Consumer spending, exports, business spending, and residential...
More Homeowners Regain Equity
More homeowners are regaining positive home equity while home prices shoot up to the highest annual increase in six years. Orawin Velz, Fannie Mae's director of economics said, “the first annual rise in home prices on a national basis in six years has...
Mortgage Applications Inch Upward
According to the Mortgage Bankers Association mortgage application rose 0.2% last week while the refinance index also jumped 0.3%. The refinance share of overall mortgage activity stayed the same from the previous two weeks at 75%. Additionally, average 30-year...
Spring Housing Market Remains On Track
New single-family home sales have grown to a seasonally adjusted rate of 417,000 units, a 1.5% increase according to the Commerce Department. New home inventory has also seen an increase, growing 2.0% with a total of 153,000 units. Sales have jumped 18.5% from...
Large Home-Building Companies Experience Success
According to Capital Economics' most recent report, land values increased 14% during 2012's first three quarters and was approximately four times larger than the increase seen in house prices. Housing availability and building materials have become highly limited...
Home Value And Price Confidence Increase
Gallup conducted their annual Economy and Personal Finance survey polling 2,000 homeowners and renters. 51% of the poll respondents said they were expecting home prices to rise from the average local price. 37% expect home prices to stay the same while 12% expect to...
House Flipping On The Rise
House flippers, individuals who buy and sell a home within a 6 month time, have become more active now that the housing market is making a comeback. According to the National Association of Realtors, home values have increased by 11.6% year-over-year while housing...
Housing Market Continues To Support U.S. Economy
Fannie Mae reported a relatively modest growth in the economy, averaging 2.3% in the latest outlook. Though, the housing market is said to be in full swing and expected to continue to grow throughout the year, aiding the economy's restoration. Fannie Mae's chief...
Housing Starts Reach Highest Level In Nearly 5 Years
Housing starts increased from February to March by 7% according to the U.S Census Bureau, rising to an annual rate of 1.03 million units. Home completions also climbed 11% in March averaging approximately 800,000 units, 36.3% more than last year. Bob Walters, Quicken...
Fixed Mortgage Rates Drop Again
According to Freddie Mac's Primary Mortgage Market Survey, U.S. fixed-rate mortgages continue to fall, aiding the housing market's recovery. 30-year fixed-rate mortgages decreased to 3.43% last week, down .9% from the previous week. 15-year fixed-rate mortgages also...