New Home Supply Remains Firmly In “Seller’s Market” Territory

The market for new construction homes remains strong nationwide. According to the U.S. Census Bureau, the number of new homes sold slipped 0.3 percent in August 2012 to a seasonally-adjusted, annualized 373,000 units sold — just 1,000 units less than July 2012 and the second-highest reading since April 2010. April 2010 was...

Home Price Index Shows Values Rising 3.7% From One Year Ago

Tuesday, the Federal Home Finance Agency's Home Price Index (HPI) showed home values rising 0.2% on a seasonally-adjusted basis between June and July 2012, and moving +3.7% on an annual basis. Home values have not dropped month-to-month since January of this year -- a span of 6 months. For today's home...

Existing Home Sales Leap To 2-Year High

The home resale market put forth another strong data set last week. Home sales prices are higher nationwide and sales volume has moved to a 2-year high. According to the National Association of REALTORS®, 4.82 million "existing homes" sold on a seasonally-adjusted, annualized basis in August, representing a near 8...

What’s Ahead For Mortgage Rates This Week : September 24, 2012

Mortgage markets improved for the second consecutive week last week as demand for U.S. mortgage-backed bonds remained high. A series of economic reports showed strength in housing and a stability in jobs. Wall Street looked past it, however, to send mortgage rates to their lowest levels in history. One week...

30-Year Fixed Rate Mortgage Drops To 3.49% — An All-Time Low

For the first time in 9 weeks, mortgage rates have made new lows. According to Freddie Mac's weekly Primary Mortgage Market Survey, the average 30-year fixed rate mortgage rate fell 6 basis points to 3.49% this week, tying the all-time low set in late-July. The 15-year fixed rate mortgage also...

Housing Starts Move To 2-Year High

The new construction housing market continues to make gains. Wednesday, the U.S. Census Bureau reported Housing Starts for single-family homes up 5.5 percent in August to a seasonally-adjusted, annualized count of 535,000 units nationwide. The report marks the fifth month of six that single-family starts increased, and marks the highest starts...

Foreclosures Remain Concentrated In Just A Few States

The national market for foreclosed homes remains strong. According to foreclosure data firm RealtyTrac, foreclosure activity increased 1 percent in August as compared to the month prior, climbing to just above 193,500 units nationwide. 1 in every 681 U.S. households received some form of foreclosure filing last month where a "foreclosure...

What’s Ahead For Mortgage Rates This Week : September 17, 2012

Mortgage markets improved last week as the Federal Reserve introduced new economic stimulus. The move trumped bond-harming action from the Eurozone, and a series better-than-expected U.S. economic data. The 30-year fixed rate mortgage rate dropped last week for most loan types, including for conforming, FHA and VA loans. 15-year fixed...