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There have been lots of confusing reports over the last few days concerning Real Estate and the housing market.
First, we received this positive news, telling us how home sales increased in February.
Then yesterday we found out that home prices declined.
Today the big news is that new home sales, or new construction, saw a decline in […]

The Fed has cut the Federal Funds Rate again.
In a brief statement explaining their decision, Federal Reserve Chairman Ben Bernanke and his colleagues said that “financial markets remain under considerable stress.”
The Fed move was approved on a 9 to 1 vote. Richard Fisher, president of the Fed’s Dallas regional bank, dissented, preferring no change […]

Housing starts have declined to a 16 year low.
Housing starts in December fell to their lowest level since 1991 as the credit crunch and slowdown in sales continued to hobble the industry, according to a report released jointly today by the U.S. Census Bureau and Department of Housing and Urban Development.
Privately owned units authorized by […]

This is certainly some good and encouraging news.
From Inman Real Estate News.
Mortgage application volume during the second week of January posted a huge increase as interest rates continued to decline, the Mortgage Bankers Association reported today.
The group’s market composite index, a measure of home loan application volume, climbed 28.4 percent on a seasonally adjusted basis […]

Everybody is talking about the Bank of America/ Countrywide deal, but what does it mean for you and me? Well obviously is good news for everybody, as is stated in this article.
Q: Does the deal represent a vote of confidence that will help stabilize the mortgage market?
Yes, according to Doug Duncan, chief economist of the […]

From Realtor.org:
Freddie Mac’s statistics show a decline in interest on 30-year fixed loans to 6.07 percent from 6.17 percent last week, while 15-year fixed rates slid to 5.68 percent from 5.79 percent.
Click here to read the whole article, which also mentions a reduction in interest on Adjustable Rates Mortgages, something you might want […]

According to the NAR, existing home sales are up in November.
“Near term, existing-home sales should continue to hover in a narrow range, just as they have since September, and that’s good news because it’ll be a further sign that the housing market is stabilizing,” says NAR Chief Economist Lawrence Yun. “Mortgage interest […]

Most mortgage lenders require you to make a down payment toward the purchase of a home. Saving for a down payment can be one of the most challenging steps in buying a home.
Your down payment and the amount you are pre-approved to borrow will determine the type of home you can afford. A down payment […]

If you are ready to start searching for a home, it is a good idea to go ahead and begin working with a mortgage professional. In fact, I believe that every buyer should not only be pre-qualified, but be pre-approved before beginning their search. For one thing, it strengthens the negotiating position when making an […]

From Realty Times:
Mortgage rates remain the same. 6.00% Stable.
I’ve said it before and I’ll say it again. Now is a great time to buy.

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