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Strengthening Housing Market Encourages Banks and Homeowners

by on June 14, 2013

Low housing inventory and rising home prices are leading more homeowners to consider selling their homes

A recent survey by mortgage giant Fannie Mae found that 40 percent of Americans believe now is a good time to sell a home, compared to 30 percent in April and 16 percent a year ago. The response indicates a rise in confidence among homeowners, which could lead to more inventory in the market, thereby ensuring smaller price gains in the future. “Sentiment toward selling a home appears to be catching up with the strengthening housing market,” Doug Duncan, senior vice president . . .

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Mortgage Applications Drop as Interest Rates Climb

by on June 7, 2013

A drop in mortgage applications comes just as mortgage rates climb further upward

Average rates on 30-year fixed mortgages neared 4 percent this week, according to mortgage giant Freddie Mac. And, for the first time this year, rates on 15-year loans climbed above 3 percent. The news may be upsetting for potential homebuyers, who’ve been waiting for rates to continue on a path of decline. This week, the rate on a 30-year loan was 3.91 percent compared to 3.81 percent, the highest since March last year. . . .

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Rising Home Prices Fuel Real Estate Recovery

by on May 31, 2013

Home prices have risen in many housing markets, which is a positive sign for real estate recovery

It’s a great way to welcome the busy summer homebuying season. According to the Standard & Poor’s/Case-Shiller home-price index, home prices skyrocketed 10.9 percent in the year ending in March. That’s the biggest jump in prices in seven years. All 20 cities monitored by the index showed price gains. Compared to February, prices were up 1.4 percent. The star performers were Phoenix and San Francisco, where prices rose more than 22 percent . . .

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Housing Market is on the Rebound

by on May 24, 2013

New home sales are on the rise along with mortgage rates, signaling a continued recovery process for the housing industry

The housing industry continued to gather momentum in April. New home sales, an important measure for the industry’s performance, climbed 2.3 percent last month. Home prices also rose to record highs. The news comes at a significant time. Spring is a favorite season for homebuying or shopping. According to the Commerce Department, new home sales jumped to a seasonally adjusted rate of 454,000 units. That’s up 2.3 percent from March and 29 percent compared . . .

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Consumer Demand Boosts Homebuilder Confidence

by on May 17, 2013

Homebuilder confidence is up as homebuyers look toward new construction as an alternative to the low inventory of existing homes

March was a stellar month for housing starts with numbers touching an almost five-year high. Beginning construction of new homes skyrocketed to 1.4 million, making the industry dizzy with excitement. But, the momentum is slowing down a bit. That’s an expected trend and shouldn’t be a cause of worry. Housing starts fell to a 970,000 annual rate in April. Bloomberg says it’s an indication that work on apartment buildings is slowing down. . . .

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Home Prices Rise, Late Mortgage Payments Decline

by on May 10, 2013

The average rate for a 30-year mortgage rose this week

The average rate on 30-year home loans rose slightly to 3.42 percent this week, according to mortgage giant Freddie Mac. Last week, it was 3.35 percent. Rates on the shorter term 15-year loan also inched up to 2.61 percent. Two weeks ago, it had hit a record low. Despite the slight increase this week, rates are still at historic lows. Last November, rates on 30-year loans dropped to 3.31 percent, the lowest on record since 1971 when Freddie Mac began tracking rates. . . .

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Cautious Optimism Reigns Despite Market Improvements

by on May 3, 2013

Mortgage rates are down and home prices are up, but Americans still say the real estate recovery has years to go

Even though things are looking up for the housing market, many believe there’s still some ways to go. A new Rasmussen Reports national telephone survey found that 47 percent of Americans believe it will take more than three years for prices to recover to pre-bust levels. This is the second consecutive month when numbers dipped below the 50 percent mark, but it does reflect more optimism than what was recorded in mid-2010. Of those surveyed . . .

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Inventory is Tight, but Lower Rates & Prices May Lure Homebuyers

by on April 26, 2013

The rise in home prices is slowing down in many markets, and mortgage rates are low, attracting homebuyers

Here’s some much needed relief for buyers. Home prices, which were on an accelerated climb, have slowed down their momentum in the first quarter. With mortgage rates still hovering at the bottom, now may really be the time for buyers to take the plunge. As the economy improves, prices and rates are expected to rise. . . .

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Housing Starts are Up, but Builder Confidence is Shaky

by on April 19, 2013

This week

Last month, new home construction soared to the highest level since before the financial crisis, according to data released by the Commerce Department. Housing starts jumped 7 percent in March to a seasonally adjusted rate of 1.04 million. The big surge is indicative of the market’s recovery from what some have called the worst recession since the Great Depression.The numbers beat analysts’ expectations. Economists surveyed by Dow Jones Newswires were expecting a rise of . . .

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Is the Housing Market Headed Toward Another Crash?

by on April 12, 2013

Real estate news - Hank Paulson thinks the housing market could be headed for another crash

There’s a shortage of inventory in the market. And that’s driving up price tags for homebuyers. New research shows that number of homes listed for sale in March rose by 2.4 percent when compared to February, but that’s still down 15 percent from 2012. “The newest data shows that the outlook is optimistic for the overall real estate recovery,” Steve Berkowitz, CEO of Move, which operates Realtor.com, told USA Today. “Things are slowly picking up steam.” That’s good news given that . . .

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