U.S. existing-home sales hit strongest pace in almost 11 years

WASHINGTON – Dec. 20, 2017 – Existing-home sales surged for the third straight month in November and reached their strongest pace in almost 11 years, according to the National Association of Realtors® (NAR). All major regions except for the West saw a significant hike in sales activity last month. Total existing-home sales – completed transactions that [...]

January 2nd, 2018|

Average U.S. 30-year mortgage rate falls to 3.89%

WASHINGTON (AP) – June 8, 2017 – Long-term U.S. mortgage rates fell this week, as the benchmark 30-year rate declined for the fourth straight week to its lowest level in nearly seven months. Mortgage buyer Freddie Mac said Thursday the average rate on 30-year fixed-rate home loans dropped to 3.89 percent from 3.94 percent last [...]

June 16th, 2017|

Fannie to loosen mortgage requirements

WASHINGTON – June 9, 2017 – Government-sponsored financing giant Fannie Mae will ease its requirements next month, raising its debt-to-income ceiling from 45 percent to 50 percent on July 29. The move could pave the way for a larger number of new buyers to qualify for a mortgage, particularly millennials who may be saddled with [...]

June 14th, 2017|

Mortgage rates edge up – but not much

WASHINGTON (AP) – Feb. 23, 2017 – Long-term U.S. mortgage rates rose slightly this week, continuing a holding pattern that has prevailed this month. Mortgage buyer Freddie Mac said Thursday that the rate on 30-year, fixed-rate loans edged up to 4.16 percent from 4.15 percent last week. The benchmark rate stood at 3.62 percent a [...]

February 28th, 2017|

Average 30-year mortgage rate dips to 4.15%

Mortgage buyer Freddie Mac says the rate on 30-year, fixed-rate loans eased to 4.15 percent from 4.17 percent last week. The benchmark rate stood at 3.65 per cent a year ago and averaged 3.65 percent through 2016, the lowest in records going back to 1971. The rate on 15-year mortgages dropped to 3.35 percent this [...]

February 18th, 2017|

June new-home sales climb to 8-year high

 WASHINGTON (AP) – July 26, 2016 – Americans bought new homes in June at the fastest pace in more than eight years, a sign that a solid job market and low mortgage rates are bolstering the broader U.S. economy. The Commerce Department said Tuesday that new-home sales rose 3.5 percent last month to a seasonally [...]

July 28th, 2016|

Get ready for a baby boomer sell-off

WASHINGTON – July 11, 2016 – Baby boomers and others aged 55 or older – several million current homeowners – plan to move to rental units in the next few years, according to Freddie Mac's latest 55+ Survey of housing plans and perceptions of those born before 1961. An estimated 6 million homeowners and nearly [...]

July 20th, 2016|

Home prices rise at solid pace even with flat sales

WASHINGTON (AP) – April 26, 2016 – U.S. home prices continued their steady upward march in February as buyers competed for a limited number of available properties. The Standard & Poor's/Case-Shiller 20-city home price index rose 5.4 percent that month compared with a year earlier, according to a report released Tuesday. That's down slightly from [...]

May 1st, 2016|

Average rate on 30-year mortgage falls to 3.81%-SO BUY NOW TO GET MORE HOUSE FOR YOUR MONEY

WASHINGTON (AP) – Jan. 21, 2016 – Average long-term U.S. mortgage rates fell this week for a third straight week as global stock markets continued to be pounded by falling oil prices and worries over economic growth. Mortgage buyer Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage declined to 3.81 percent [...]

January 25th, 2016|

Want to buy?  I work with lenders who have loan products requiring as little as 3% down

Fannie, Freddie 3% loans not very popular  WASHINGTON – Dec. 17, 2015 – Not many homebuyers are taking advantage of the low downpayment loans that Fannie Mae and Freddie Mac debuted about a year ago, shows a new report released from Black Knight Financial Services.In December 2014, Fannie Mae and Freddie Mac introduced loan programs [...]

January 12th, 2016|
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