Fannie Mae’s April 2012 National Housing Survey indicates consumer attitudes toward homeownership, the economy, personal finances, and home prices continuing to improve. [...]
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Do I Have To Sell? No you do not have to sell if you are in a financial position where you qualify, i.e. Debt-to-Income Ratio is satisfactory and on paper you can afford both your current residence and the proposed payment on the new home. However, the borrower in this case must give consideration to other or additional expenses when maintaining multiple properties…increased property taxes, insurance costs, maintenance, un-expected repairs when making that decision. [...] Mortgage rates have been rising nonstop since the end of last week. If you are considering a refinance or taking the plunge and buying a new home, you’d better get moving. I just had a prospect shop rates and terms for his new home over the last couple of weeks and just called back; he finally decided on a lender and wanted an updated rate quote to lock his loan. Needless to say, he was terribly disappointed…the rates we originally spoke about on a 30 year fixed rate a couple of weeks ago was in the high 3’s, my quote yesterday was 4.25% (4.45% APR ). [...] Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing most average mortgage rates inching higher on January’s positive employment data. The 30-year fixed remained unchanged and at its all-time record low. One year ago at this time, the 30-year fixed averaged 5.05 percent. [...] Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS), showing average fixed mortgage rates finishing the year near their all-time historic lows. Thirty-year fixed rate mortgages averaged 3.95 percent and have been at or below 4.0 percent for the past nine consecutive weeks keeping homebuyer affordability at a near all-time high. [...] Dennis Norman In a just a few days we will say goodbye to 2009; a year that has been brutal to the housing market. So as the new year comes in, what will 2010 hold in store for the housing market? To answer this question I turned to the housing forecast just released by Fannie Mae to [...] Dennis Norman According to Freddie Macs weekly mortgage market survey the interest rate on home mortgages dropped to a new three-month low. The survey shows the interest rate on a 30 year fixed rate mortgage averaging 5.12 percent with 0.7 percent in fees and points this week, down from 5.29 percent last week. Last year at [...] Dennis Norman According to Freddie Macs weekly mortgage market survey mortgage rates decreased slightly for the week ending August 6, 2009 from the prior week. The survey shows 30 year fixed rate mortgages averaging 5.22% with 0.6% in fees and points, down from 5.25% the week before. Last year at this time, the 30 year rate averaged 6.52%. [...] Dennis Norman According to Freddie Macs weekly mortgage market survey mortgage rates increased slightly this week from the prior week. The survey shows 30 year fixed rate mortgages averaging 5.25% with 0.7% in fees and points, up from 5.20% the week before. Last year at this time, the 30 year rate averaged 6.52%. Rates [...] Dennis Norman According to Freddie Macs weekly mortgage market survey mortgage rates increased slightly this week from the prior week. The survey shows 30 year fixed rate mortgages averaging 5.20% with 0.7% in fees and points, up from 5.14% the week before. Last year at this time, the 30 year rate averaged 6.63%. Rates on 15 year fixed-rate [...] Dennis Norman According to Freddie Macs weekly mortgage market survey mortgage rates dropped this past week slightly from the prior week. The survey shows 30 year fixed rate mortgages averaging 5.14% with 0.7% in fees and points, down from 5.20% the week before. This is the lowest rate reported in Freddie Mac’s survey for a 30 [...] By: Dennis Norman Yesterday, Bankrate, Inc. issued their weekly mortgage interest rate report showing that mortgage rates after rising to almost 6% have retreated in this past week with 30-year fixed-rate mortgages averaging 5.76%, down from 5.95% last week, with an average of 0.43% in discount and origination fees. The report shows 15-year fixed-rate mortgages were also lower this week at an [...] By: Dennis Norman Today, Bankrate, Inc. issued their weekly mortgage interest rate report showing that mortgage rates jumped this week with 30-year fixed-rate mortgages averaging 5.65%, up from 5.45% last week, with an average of 0.44% in discount and origination fees. The report shows 15-year fixed-rate mortgages were also higher this week at an average of 5.06%, up from [...] By: Dennis Norman Yesterday, Bankrate, Inc. issued their weekly mortgage interest rate report showing that mortgage rates jumped this week with 30-year fixed-rate mortgages averaging 5.45%, up from 5.24% last week, with an average of 0.41% in discount and origination fees. The report shows 15-year fixed-rate mortgages were also higher this week at an average of 4.86%, up from [...] Dennis Norman By: Dennis Norman This past Thursday the U.S. House of Representatives passed H.R. 1728, the “Mortgage Reform and Anti-Predatory Lending Act.” The bill, introduced by Rep. Bradley Miller (N.C.) sets out to “amend the Truth in Lending Act to reform consumer mortgage practice and provide accountability for such practices, to provide certain [...] Dennis Norman By: Dennis Norman According to a release by Bankrate today, mortgage rates did not change much this week from last week. Interest rates for 30 year fixed-rate mortages averaged 5.23 percent this week with an average of cost of less than 1/2% for discount and origination fees. The average rate for 15-year [...] Dennis Norman By: Dennis Norman It seems home mortgages are in the news daily lately: record-low interest rates, record-high foreclosure rates, the sub-prime mortgage mess, lack of jumbo loans and so on. It’s confusing at best and causing much concern for many people wishing to buy a home or refinance their existing home mortgage. [...] Dennis Norman On the same day Congress pass the Economic Recovery Plan in February Treasury Secretary Timothy Geithner introduced the Financial Stability Plan. Included in this plan is the Making Home Affordable Program in an effort to stabilize the housing market and help 7 to 9 million Americans reduce their mortgage payments to more affordable levels. [...] By: Dennis Norman Last week I wrote a post about housing affordability being at a record low. Two weeks ago, for a blog for real estate investors, www.RealEstateInvestorDaily.com, I did a blog about a study by a professor at the University of Virginia School of Architecture indicating that price declines and foreclosures were not as [...] By: Dennis Norman Four days ago I wrote a post stating I did not think low interest rates will prove to be long-term fix to the housing market and in fact nothing more than short-term “life support”. Today CNNMoney.Com published an article which stated “Unfortunately, the low interest rates have not spurred much of an [...] By: Dennis Norman For the eighth week in a row, the interest on fixed-rate home loans has fallen according to the Primary Mortgage Market Survey released this week by Freddie Mac. The survey shows interest rates for a 30 year fixed-rate mortgage have dropped to an average of 5.14% nationwide, down from 5.19% the [...] By: Dennis Norman This morning the National Association of REALTORS(R) released data for existing home sales for November. The numbers show sales of existing homes down 8.6% nationwide versus October and down 10.6% versus last year. The Northeast saw the biggest decline in sales being down 12.0% versus last month and 18.0% versus last year. The west [...] By: Dennis Norman Last week the average interest rate on 30-year fixed-rate mortgages dropped to 5.53% from 5.97%, making it the biggest one-week fall in 27 years! The Mortgage Bankers Associaiton also reported that mortgage loan applications were up over 100% during the week of November 24th after news that the Fed’s plan to buy mortgages. In addition, [...] By: Dennis Norman The National Association of REALTORS(R) announced that pending home sales for October, which were just released, show housing sales may be stabilizing which is good news. Even though the index showed a .7% decline from September and a 1% decrease from October 2007, Laurence Yun, the chief economist for the National [...] |
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