Blog
Average Mortgage Rate Falls To 4.60 Percent
According to The Mortgage Bankers Association's Weekly Mortgage Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages fell to 4.60 percent last week from 4.67 percent the week before. Mortgage rates have fallen for five consecutive...
Housing Starts Decline In April
Due to volatility in multifamily construction, privately-owned housing starts fell 10.6 percent in April, according to the U.S. Census Bureau and the Department of Housing and Urban Development. Construction of new single-family homes dropped 5.1 percent after gaining...
Builder Sentiment Holds Steady In May
The National Association of Home Builders/Wells Fargo Housing Market Index has remained unchanged for six of the past seven months, holding steady in May at 16. The index ranks builder confidence in the market for newly built, single-family homes on a scale where any...
Home Sales on Pace To Exceed Last Year’s Levels
According to Lawrence Yun, the National Association of Realtors' chief economist, home sales are on pace to exceed last year's levels. Yun believes sustained economic growth, a gradually improving job market, and historically high housing affordability will boost...
Foreclosure Activity Falls To a 40-Month Low
In April, foreclosure filings, including default notices, scheduled auctions, and bank repossessions, were down 9.0 percent from the previous month and 34 percent below last year's levels, according to RealtyTrac's U.S. Foreclosure Market Report. James J. Saccacio,...
Mortgage Rates Fall To Lowest Level This Year
According to the Mortgage Bankers Associations' Weekly Applications Survey, mortgage rates are now lower than they have been at any time this year. The average contract interest rate for 30-year fixed-rate mortgages fell to 4.67 percent last week from 4.76 percent the...
Median Price Rises As Spring Market Gains Momentum
Home prices increased in 24 of the 26 metropolitan areas tracked by Altos Research's latest Housing Market Update. The national median home price was $440,194, up from $432,307 in March, and the 10-city composite index showed prices up 1.82 percent in April. The...
Government Scorecard Details Housing Recovery Data
The U.S. Department of Housing and Urban Development and the U.S. Department of Treasury's April Housing Scorecard details the Administration's housing recovery efforts and key indicators of market health. According to the report, housing data through March paints a...
Market Analysts Say Now Is The Time To Buy
Buying a home is now cheaper than renting in 4 out of 5 major U.S. cities. And, along with affordable home prices, low mortgage rates, and building economic confidence, the increase in rent makes market conditions ripe for prospective house hunters this spring and...
Freddie Mac Forecasts High Affordability, Sales Boost in 2nd Quarter
Freddie Mac's April Economic Outlook forecasts a boost in sales activity in the second quarter of 2011. After a slow winter, home sales will rebound due to the traditional seasonal uptick, low mortgage rates, and prices below their peak. Homebuyer affordability is at...