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If CoreLogic’s statistics are anything to go by around 11.1 million households in the US (23.1 per cent of all mortgaged homes) were underwater in the October-December quarter. This means 10.8 million households, up from 22.5 per cent, during the July-September quarter. Although the number of underwater mortgages had fallen in the previous three quarters, it was largely due to more number of foreclosures. This has put many in a quandary, preventing them from selling their homes in an already weak housing market.
March 21st, 2011 | Posted in Mortgages,Real Estate Headlines | Read More »
Last week saw a drop in the average interest rate on the 30-year fixed mortgage loan in the US due to lower yields on Treasury bonds. According to Freddie Mac, the interest rate on the loan dipped to 4.87 per cent from 4.95 per cent. Earlier in November 2010, it had hit a 40-year low of 4.17 per cent.
March 16th, 2011 | Posted in Mortgages,Real Estate Headlines | Read More »
For those concerned that interest rates are going to jump up and kick off higher real estate prices, the NY Fed has a mixed message of hope and caution. The Fed expects interest rates to stay very low, at least in the short term. However, there might be changes coming down the line. The foreseeable future might just hold higher interest rates across the board.
March 15th, 2011 | Posted in Mortgages,Real Estate Headlines,Residential | Read More »
FHA loans may be availed of by both first-time buyers and others who want loans for buying or refinancing their homes. It is worth noting that for refinancing a home it is not necessary that the current loan should be an FHA loan.
March 10th, 2011 | Posted in Mortgages,Real Estate Headlines,Residential | Read More »
Last week, mortgage rates in the US real estate market eased down, sending positive news to prospective borrowers. A recent survey of wholesale and direct lenders showed that 15-year fixed mortgage rates were at 3.88 per cent after two dips over the past week. On the other hand, 30-year fixed mortgage rates remained at 4.75 per cent. As for ARM loan rates, they also showed a dip of 0.13 per cent to the current 3.13 per cent. Analysts believe that with a 0.7-1 per cent origination fee, these are the best mortgage rates credit-worthy borrowers can avail of currently.
March 9th, 2011 | Posted in Mortgages,Real Estate Headlines | Read More »
Over the past few years, the US commercial real estate has also been experiencing the difficulties faced by the industry. The good news, however, is that the market is stabilizing and is moving towards growth. Recently, National Association of Realtor reported that this could be the result of a pullback currently seen in the construction sector. The report said that limited construction of commercial nature in the past few years has resulted in the quick fall in vacancy rates.
March 7th, 2011 | Posted in Mortgages,Real Estate Headlines | Read More »
While much has been made of the effect the recession had on the residential housing market, it also had an enormous effect on commercial real estate around the nation. This was marked by the incredible number of defaults on commercial mortgages across all sectors. However, things might be improving. Signs of recovery come from the reduced rate of mortgage defaults in the US.
March 7th, 2011 | Posted in Commercial,Mortgages,Real Estate Headlines | Read More »
Recently, the US government has proposed to trim down its role in housing finance. This, many experts feel, may pit Wall Street against real estate groups as it restructures the $11-trillion mortgage market.
March 4th, 2011 | Posted in Mortgages,Real Estate Headlines | Read More »
The real estate and construction sectors together constitute one of largest business segments of the US economy. Typically, the sectors are heavily dependent on a slew of factors, including general economic growth, employment rates, interest rates, and lending and credit markets. Globally, China and India are the two most rapidly growing real estate markets.
March 1st, 2011 | Posted in Mortgages,Real Estate Headlines,Residential | Read More »
The true percentage of home loan owners who have been late with their payments slipped to the lowest level in 2 years throughout the 4th quarter of 2010, the Mortgage Bankers Association stated in a statement today.
February 24th, 2011 | Posted in Mortgages,Real Estate Headlines | Read More »
