Lower mortgage rates are helping more homeowners refinance and reduce their monthly payments, but they are not providing much incentive to homebuyers, who are finding few affordable listings.Read More
An Alternative To Traditional Real Estate Investing
There was more good news than not-so-great news to be culled from the morning’s housing data.
First, the good news: Sales of new single-family houses during February were at a seasonally adjusted annual rate of 592,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This level is 6.1 percent higher than the revised January rate of 558,000 and is 12.8 percent above the 525,000 estimate from February 2016.Read More
As interest rates surged last week and home prices continue to balloon at a breakneck pace, borrowers are wasting no time applying for home loans — they are hoping to get in before affordability gets even worse.Read More
The prospect for growth in the housing market in 2017 remains solid, but that said, some anxiety may taper growth somewhat this year, according to Freddie Mac’s latest 2017 Outlook report on the housing market.Read More
Rising mortgage rates, bigger jumps in home prices and still-moderate income growth are adding up to a triple threat for the housing market this spring.
Home affordability fell to the lowest level in seven years at the end of 2016, and the ingredients for a reversal are not there anytime soon.Read More
U.S. home sales slid in December as homebuyers faced historically low numbers of homes for sale and rising costs, the National Association of Realtors (NAR) reported. Overall sales for 2016 were still the highest in a decade, however.Read More
Pending home sales softened in November as contracts dipped to the lowest level in nearly a year as would-be buyers were greeted with higher mortgage rates and home prices, the National Association of REALTORS® reports. The Northeast was the only major region in the U.S. to see a monthly gain in pending sales last month.Read More
Pending sales in November slowed to the lowest level in nearly a year after a rapid post-election rise in mortgage rates and tightening supply of affordable listings, the National Association of Realtors (NAR) reported.Read More
The average rate for a 30-year fixed-rate mortgage rose to 4.16%, up from 4.13% last week, according to Freddie Mac. A year ago, rates were sitting around 3.97%.
At the current interest rates, buyers will pay $21 more per month compared to a year ago, assuming a $241,000 price tag and 20% down payment.Read More
Throughout 2016, U.S. housing prices continued to rise by about 5% year-over-year, adding to the cumulative gains made since the lows of 2011. Nationally, home prices now stand above the pre-crisis peak, as measured by the S&P CoreLogic Case-Shiller U.S. National Home Price Index. However, the recent trend toward higher interest rates has raised concerns about the outlook for home prices going into 2017, eliciting a range of responses from sheer panic to resilient optimism.Read More
The Fed, after over 18 months of dithering, is finally embarking on a strong dollar policy. That is what I see as the ultimate consequence of the Dec. 14 announcement by the Federal Open Market Committee to hike interest rates by 0.25%.Read More