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Home Prices Expected To Grow 7% In 2013
Home prices are expected to grow by 7% this year according to JPMorgan Chase, while other investors expect to see a much larger increase. Investors have taken a keen interest in distressed properties and non-performing loans, which has aided the gain in home prices....
Foreclosures Levels Drop 11% In February
Home repossessions hit their lowest levels since mid-to-late 2007, averaging an 11% decrease in February 2013 from January 2013, and showed a 29% drop from last year according to RealtyTrac. Foreclosure rates have been cut in half from 2010 when the foreclosure crisis...
HARP Refinances Rise Above Projected Amount
According to the HARP report, 297,461 refinances took place last year, and of those refinances 25% had 125% loan-to-value ratios. The Home Affordable Refinance Program stated that approximately 1.1 million of Freddie Mac and Fannie Mae mortgages experienced some form...
Housing Market Takes Steps Toward Recovery
According to Reuters, the housing market began its long journey to recovery in 2012. In January of 2012, the housing market began to see an increase in housing starts fueled by rental property demands. January of 2013 proved that the housing market had picked up speed...
Unemployment Rate Drops To 7.7%
New job growth is speeding up in the U.S. This is particularly good news for the recovering housing market. 236,000 net jobs were created in February according to the Labor Department. The nation's unemployment rate has dropped to its lowest level since 2009,...
Homeowner Diversity Helps Accelerate Housing Market
A new study suggests that immigrants are fueling the housing market and have been helping growth over the last decade. Experts expect immigrants to continue to accelerate the housing market in the near future. Foreign-born property owners have shown growth each year...
Fixed-Rate Mortgages Show Little Increase
According to Freddie Mac's Primary Mortgage Market Survey, fixed-rate mortgages seem to show little to no change from last week. 30-year fixed-rate mortgages jumped 3.52% while 15-year fixed-rate mortgages measured in at 2.67%, unchanged from last week. The 5-year...
Home Prices Jump In 2013
According to data from the CoreLogic Index, U.S. home prices have increased while foreclosure rates have decreased. Home prices have jumped 0.7% in January from the previous month and soared 9.7% from last year, the biggest home price increase since early 2006. It is...
Home-Buying Plans Gain Momentum
Home-buying plans have shown improvement since 2005, with mortgages remaining relatively affordable and housing starts on the rise. This year's credit availability has grown substantially compared to availability over the last few years. 30-day delinquency rates have...
Job Growth Increases Consumer Confidence
The job market this year has steadily grown each month. Last month, 157,000 jobs were added to the recovering economy, and jobless claims have continued to decline weekly. Consumer confidence has also trended upward according to Economist Richard Curtin who said...