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Mortgage Rates Decrease
Fixed mortgage rates fell this week. According to Freddie Mac, the average rate on the 30-year fixed rate mortgage decreased 0.07% from last week, averaging 4.51%. The average 15-year loan also fell slightly, averaging 3.54%, a 0.06% fall from last week. Many...
3.2 Million Homeowners Gain Home Equity
Home values have increased over the last year helping to pull many homeowners out of the water. From June 2012 to June 2013, approximately 3.2 million homeowners gained home equity. According to the Case-Shiller's 20-city index report, the notable decrease in...
Foreclosure Completions Fall By 65,000
Foreclosures dropped in the U.S. according to a report released by CoreLogic. As further proof the housing market continues to make significant strides in recovery, foreclosures fell by 65,000 in July. The number of completed foreclosures averaged around 49,000, down...
Mortgage Rates Hit Highest Levels This Year
Mortgage applications fell for the third week in the United States as mortgage rates continue to rise. Mortgage rates have reached the highest level this year but have yet to affect purchase loan demands. According to the Mortgage Bankers Association, the seasonally...
Home Prices And Consumer Confidence Increase
Home prices in the United States increased in June, although gains fell. Experts are suggesting that, as mortgage rates continue to jump, the housing momentum may cool down as the year comes to an end. According to the S&P/Case Shiller composite index of 20...
U.S. Home Sales Fall
According to data released by the United States government, new home sales dropped in July by 13.4%. Housing market experts suggest that the recent fall in home sales could be due to the rise in mortgage rates. Although mortgage rates are expected to continue to...
Lumber Prices Rise
Housing starts have increased as the economy grows. As a result, an increasing number of Americans can afford to add-on or build homes. According to Deloitte, housing starts jumped 35% year-over-year in this year’s first quarter. As housing starts grow, along with...
Mortgage Rates Hit 2 Year High
U.S. mortgage rates increased to the highest level seen in two years as home sales pick up. According to Freddie Mac, the average 30-year fixed mortgage jumped to 4.58% while the average 15-year rate increased to 3.6%, the highest levels reported since mid-2011. Chief...
Many Home Improvement Stores Report Large Gains
An increasing number of homeowners are able to make repairs or updates to their homes according to the surge in home improvement sales. Home improvement retailers posted large gains in the second quarter of 2013. Home Depot reported a profit of $1.8 billion, with a...
Housing Market Remains On The Right Track
According to RealtyTrac's recent report, over the last year the housing market went into recovery mode as foreclosures fell and home prices continued to increase. Approximately 75 large metropolitan areas reported over 100 on the housing recovery index which suggests...