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More Companies Expect Economy To Continue To Grow
According to a recent survey conducted by the National Association of Business Economics, more companies are growing confidence in the U.S. economy and have started to hire more employees. Approximately one-third of economists surveyed said that their businesses...
Home Sales Slightly Decrease While Prices Reach New Highs
Over the last few months, home sales in the United States have soared to record high levels but have recently slowed. According to the National Association of Realtors, U.S. home sales decreased 1.2% averaging an annual rate of 5.08 million units. Although home...
House Flipping Returns To The Market
According to a newly released report from RealtyTrac, investors who flip houses are making a comeback. House flipping occurs when investors purchase a home with the intention of re-selling the house for a higher price within a six-month time frame. The report showed...
Mortgage Rates Fall From Last Week
Mortgage rates are lower this week with 30-year fixed rate mortgages decreasing to 4.37%, a 0.14% drop from the previous week. The 15-year fixed rate mortgage also dropped 0.12% from last week averaging 3.41%. Chairman Ben Bernanke said, "the Fed will continue to...
Housing Starts Increase From 2012
New home starts in the United States increased year-over-year to 10.4% according to data released by the U.S. Census Bureau and the Department of Housing and Urban Development. In June 2013, housing starts dropped an estimated 9.9%. Experts have suggested that the...
Immigration Reform Could Add 3 Million Homeowners
A new study has found that passage of immigration reform would allow approximately 3 million new homeowners to be added to the housing market. According to the National Association of Hispanics Real Estate Professionals, it is expected that around 6 million...
Obama Administration’s Housing Scorecard Shows Strengthening
The housing market is showing further signs of improvement according to the Obama Administration's Housing Scorecard for June. Foreclosure starts and completions are decreasing drastically across the nation compared to last year. Home values and prices are continuing...
Large Bank Originations Increase
Wells Fargo and JPMorgan Chase recorded large profits last quarter that exceeded earnings from the second quarter in 2012. JPMorgan saw a 12% increase in originations, averaging $49 billion while Wells Fargo reported $112 billion in originations. Although profits are...
Fixed Rate Mortgages Continue To Climb
30-year fixed rate mortgages jumped to the highest level seen since around mid-2011, averaging 4.51%, up 0.22% from last week according to Freddie Mac. Meanwhile, the 15-year rate mortgage also grew 0.14% from last week, averaging approximately 3.53%. Experts suggest...
Rising Mortgage Rates Not Likely To Effect Consumer Optimism
According to Freddie Mac, mortgage rates remain low when compared to rates in the past. In the 1980's mortgage rates averaged around 10%. Rates now are hovering around 4.30%. Trulia took a survey in an attempt to find what the main worry was for Americans looking to...