90% Of Markets More Affordable Than Historic Average

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A recent report from RealtyTrac and Down Payment Resource looked at affordability, median income, median home price and down payment assistance programs in 370 U.S. Counties with a population of at least 100,000. The analysis ranked each county based on its affordability and accessibility for low down payment buyers, such as first-time home buyers. The findings show 90 percent of …

Mortgage Rates Rise Again After Fall

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According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates increased last week after falling the week before. Mortgage rate increases were seen across all loan categories including 30-year fixed-rate mortgages with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate mortgages. The rate increase caused a drop in demand for mortgage …

Local Real Estate Markets Gaining Strength

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Freddie Mac’s Multi-Indicator Market Index looks at the market for single-family homes in the top 100 metro areas and all 50 states. By comparing current data in each market to its long-term stable range, the index determines the strength or weakness of local housing markets across the country. According to the most recent results, just over half of all states …

Home Sales May Have Best Year Since Downturn

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Trying to gauge the health of the real estate market can be confusing to the average home buyer or seller. After all, there’s a seemingly endless supply of data, reports, and surveys and all of them measure a different aspect of the housing industry – whether it’s home sales, housing starts, or prices. However, when the vast majority show improvement, …

New Home Sales Continue To Climb

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Recent housing data has given potential home buyers and sellers plenty of reason to feel encouraged, with many industry analysts forecasting a good summer season following strong spring gains. Now, according to new estimates from the U.S. Census Bureau and the Department of Housing and Urban Development, sales of newly built, single-family homes have added to the optimistic news. In …

Existing Home Sales Hit 6-Year High

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Sales of previously owned homes rose 5.1 percent in May and are now 9.2 percent higher than they were one year ago, according to new estimates released by the National Association of Realtors. Lawrence Yun, NAR’s chief economist, says home sales are now at their highest pace since November 2009. “Solid sales gains were seen throughout the country in May …

Mortgage Rates Fall After Consecutive Increases

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According to the Mortgage Bankers Association’s Weekly Application’s Survey, average mortgage rates fell last week after rising the previous two weeks. Mortgage rates were down across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. The drop in rates led to a slight increase in …

Housing Forecast Sees Bright Days Ahead

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After a weaker-than-expected first quarter, economic activity has picked up and should accelerate even more through the end of the year, according to the latest forecast from Fannie Mae’s Economic & Strategic Research Group. The latest forecast from the group – which releases an updated economic and housing outlook each month – sees continued improvement ahead due to strengthening employment …

Foot Traffic Signals Strong Summer Sales

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Every month, the National Association of Realtors measures home buyer interest by tracking the number of times lock boxes are opened at for-sale properties. Known as foot traffic, the number of interested buyers looking at homes for sale is a good indicator of future home sales and overall demand for real estate. In May, foot traffic rose for the sixth …

Why You Have To Pay Attention To Property Tax

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There are a lot of things to consider when buying a home and many of them have to do with costs. For first-timers and even some move-up home buyers, calculating mortgage rates, closing costs, a down payment, and the eventual monthly mortgage payment can be overwhelming. So much so that it’s easy to forget a few things along the way. …