Mortgage rates in the U.S. saw a tiny increase this week, but most popular loans remain under 4.5 percent as 2013 comes to a close. The average rate on a 30-year fixed mortgage inched upward to 4.48 percent, according to the latest survey from mortgage buyer Freddie Mac. Last week, the 30-year fixed average was…
Purchases of new U.S. homes exceeded projections in November, holding near a five-year high and showing the housing recovery was gaining momentum even as mortgage rates climbed. Michael McKee reports on Bloomberg Television’s “Market Makers.” Source: Bloomberg
Sales of existing homes in November fell to the slowest pace in almost a year, hit by higher mortgage rates and low inventory, according to data released Thursday. The National Association of Realtors reported that sales of existing homes slumped 4.3% in November, a third month of declines, to a seasonally adjusted annual rate of…
Home mortgage debt rose in the third quarter of this year for the first time since the end of 2008, according to a new report from the Federal Reserve. It is a healthy sign for the housing market, arguably, but it is not exactly what it seems at face value. Mortgage debt is growing largely…
The housing market may quite return to normal next year, but it’s getting there. Dusting off their crystal balls, real estate experts can at least spy the path toward for the sector in 2014. According to real estate listing and research site Trulia, sales and prices of of non-distressed homes are almost back to normal,…
Single-family new-home sales posted a sharp rise in October, up 25.4 percent from September, according to newly released Census Bureau data. That was a similar rate to last spring when the new-home market was taking off in recovery mode. Across the country, all regions posted double-digit gains in new-home sales in October. In the Midwest,…
When you buy a home, the amount you can spend depends on how much you have in cash to use for a down payment and how much you can borrow. A mortgage lender can prequalify you for a loan, which essentially means the lender will ask you a few questions about your income, credit profile…
With 2013 almost over, economists are looking into their crystal balls and predicting a purchase-driven mortgage market for 2014. Not to mention, ongoing home affordability is expected to rise in most areas despite rising mortgage rates. All of these trends were predicted in Freddie Mac’s latest Economic and Housing Market outlook. Read the full report…
5 questions to help you choose! 15-year mortgage may be popular, but it’s not necessarily for everyone Borrowers must understand how payments will be structured Some disciplined savers may benefit from carrying their mortgages into retirement These are the questions to ask when deciding between and 15 and 30-year mortgage. 1. Can you afford to…
As interest rates rose in early fall, housing in some areas began to slow and applications for refinance loans became a trickle. Now, with interest rates at their lowest since June, we may see a boost in the lending market and in housing sales. Nearly everyone agrees that rates this low cannot last forever and…
Fixed mortgage rates sank to their lowest levels since June, according to the latest data released Thursday by Freddie Mac. For the second week in a row, mortgage rates tumbled among concerns about a softening housing market. The 30-year fixed-rate average slid to 4.1 percent with an average 0.7 point. It was down from 4.13…
Realtor.com® National Housing Trend Report for September 2013 highlights a strong continuation of equilibrium-oriented trends identified last month. While key indicators show a relatively consistent pace with August figures, the year-over-year perspective shows a strong performance in median list price, decline in days on market and a return to year-ago inventory levels that signal a…