Archives for March 2016

Mortgage Rates Rise As Spring Season Begins

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates moved up last week from the week before. Rates increased for 30-year fixed-rate loans with conforming balances, mortgages backed by the Federal Housing Administration, and … [Read more...]

Buying Still Affordable In Majority Of Markets

RealtyTrac's Q1 2016 Home Affordability Index looked at median home prices and average wage data in 456 counties across the country to determine how affordable buying a home was now compared to historic norms. According to the results, just 9 percent of counties were less … [Read more...]

Pending Home Sales Improve In February

Pending sales refer to the number of contracts to buy homes signed during the month. Because they track signings – and not closings – they are considered a good indicator of future existing home sales. In other words, any increase in pending sales will likely be reflected in … [Read more...]

Wages, Home Prices Key To Housing Growth

Last year, high hopes for the housing market looked bleak during what turned out to be a slow winter. Harsh weather stalled activity in some parts of the country and the experts and analysts began to question their optimistic outlook for the year. As spring rolled in, … [Read more...]

Spike In The West Boosts New Home Sales

Sales of new single-family homes rose 2 percent in February from the month before, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The improvement, which follows a 9.2 percent drop in January, was welcome news – though sales still … [Read more...]

Average Mortgage Rates Decrease

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates fell across all loan categories last week, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and … [Read more...]

Existing Home Sales Fall In February

In January, sales of previously owned homes hit their highest level since 2007. Then, according to new numbers from the National Association of Realtors, February sales fell 7.1 percent. The drop was more than economists expected and a disappointment after a strong start to … [Read more...]

Gov’t Report Offers Housing Market Snapshot

The U.S. Department of Housing and Urban Development's monthly Housing Scorecard collects key market data and the results of the federal government's foreclosure mitigation programs in an effort to provide a monthly snapshot of how the housing market is doing. Home sales and … [Read more...]

Misinformation Keeps First-Time Buyers Away

Before the housing crash, first-time home buyers typically accounted for 40 percent of home sales in any given year. Last year, that same group accounted for just 32 percent of buyers. And yet, the Harvard Joint Center for Housing Studies expects the country's 86 million … [Read more...]

Single Family Housing Starts Hit 8-Year High

A spike in the number of single-family homes that broke ground in February pushed new home construction levels to their highest point in more than eight years. The 7.2 percent surge passed economists' expectations and represents a significant rebound following a slow … [Read more...]