Blog
Interest Rates Continue To Rise
Mortgage rates are starting to increase, showing signs of a strengthening housing market and a growing economy. Mortgage rates have jumped three-tenths of a point over the last week, increasing the payment amount on a $220,000 30-year fixed mortgages by approximately...
Foreigner Housing Searches Account for 4.3%
According to Trulia, foreigners from lower to middle-income countries are searching for more homes in the United States with the most popular neighborhoods being in South Florida, Los Angeles, and Manhattan. From April 1st, 2012 to March 31, 2013 home searches from...
Mortgage Rates Fall But Are Expected To Rise Again
Mortgage rates fell slightly for the first time in seven weeks, but are expected to increase next week. 30-year loans dropped 0.05% from last week, and the 15-year mortgage decreased 0.06%. Additionally, the 10-year note jumped in early trading to 2.39%, up 1.63% from...
Homebuilder Confidence Index Exceeds 50
Homebuilder confidence has increased to 52 this month, the highest level seen in seven years according to the National Association of Home Builders. When the index average is above 50, it is an indication that homebuilders view sales conditions to be good. New...
Housing Starts Jump 6.8%
Private residence home starts increased 6.8% averaging 914,000 last month. Housing starts overall have been growing year-over-year, jumping 28.6% from last May according to the U.S. Department of Housing and Urban Development and the U.S Census Bureau. Housing...
Mortgage Rates Grow Slightly Higher
According to the Bankrate.com national survey of large lenders, 30-year fixed-rate mortgages increased to 4.14%, growing 0.13% from last week while the benchmark 30-year fixed-rate jumbo mortgage jumped 0.05%. This week's benchmark 15-year fixed-rate...
Economy Expected To Continue Growth Into 2014
Fannie Mae stated in a new report that the United States economic growth is expected to continue to strengthen into next year increasing energy production and rising many household incomes. Doug Duncan, Fannie Mae Chief Economist said, "At the outset of the year, we...
The Housing Market Is Now A Seller’s Market
As home values grow and low interest rates begin to increase, the housing market is slowly changing from a buyer's market to a seller's market, which suggests great improvement overall. Construction companies are working hard to keep up with the housing demand and, in...
Mortgage Application Activity Increases
The refinance index increased 5% last week, still 11% lower than 2 weeks prior, and 36% lower than the beginning of May 2013. The average contract interest rate for 30-year fixed-rate mortgage loans with a conforming loan balance jumped 4.15%, and the 30-year...
Mortgage Rates Hit Highest Levels In A Year
According to Freddie Mac, 30-year loan rates jumped to 3.91%, a 0.10% increase from last week. The average 15-year rate mortgage in the United States averaged 3.03%, increasing to the highest average seen in a year. Affordable mortgages have helped the economy and...