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When you see these Bond prices moving higher, it means home loan rates are improving—and when they are moving lower, home loan rates are getting worse. -- Kevin Jones in his Weekly Mortgage Market Guide
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Shared and taken by Norbert Metz, Lovely beach at the Isle of Corsica
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RealtyTrac has released a report analyzing affordability for buying a residential property in more than 1,000 counties nationwide, which shows that as of the second quarter of 2014, one-third of the counties analyzed have surpassed their historical averages for income-to-price affordability percentages since 2000—making them less affordable now than they have been on average over the last 14 years.
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I have been working on finding buyers and then finding sellers. It is working:)
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Shared and taken by Werner Polwein, Ho Chi Minh Memorial, Hanoi
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5 signs you’re ready to get a mortgage
1. You are making the right financial strides
2. You are creating a firm budget
3. You are realizing what you want
4. You are willing to focus on what you need
5. And last, you are toning down your expectations
Brena Swnason in HousingWire http://www.housingwire.com/articles/31003-signs-youre-ready-for-a-mortgage
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Utimately, July’s news turned out to be much of the same, falling in line with the past several scorecards.
“The market indicators for the housing market recovery were mixed in July as foreclosure filings continue to improve, but home sales, particularly for new homes, showed unexpected weakness,” said HUD Assistant Secretary for Policy Development and Research Katherine O’Regan. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/31024-scorecard-housing-recovery-trudges-along
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Shared by Martin Shervington, taken by Ugo Cei, London
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Mortgage applications fell 2.7% from one week earlier, losing any gain it made last week, according to data from the Mortgage Bankers Association’s weekly mortgage applications survey for the week ending Aug. 8, 2014. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/31017-mortgage-applications-dip-27
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Nat'l Real Estate Post:
It’s insane. Not only do you have far too many regulators, but throw in massive lawsuits and at some point it literally becomes too expensive to do one single loan.
http://thenationalrealestatepost.com/too-many-chefs-spoil-the-loan/?
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Shared and taken by Valentina Cirsola, Bari Lungomare - Puglia, Italy
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Pershing Square Capital Management, the hedge fund firm run by William Ackman, has sued the U.S. government. According to an article in Reuters, the hedge fund claimed that the government's stripping of Fannie Mae's and Freddie Mac's profit illegally short changes investors in the mortgage companies' common stock.
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Potential homebuyers are always shopping around, but according to homebuilders, this time things are getting serious.
Builder confidence in the market for newly-built, single-family homes continued to set records and hit the highest level since January, rising two points to 55 on the National Association of Home Builders/Wells Fargo Housing Market Index for August. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/31064-homebuilders-see-serious-buyers-shopping-for-homes
------------------------------------------------Shared and taken by Felix von Cakenberge, Waleffe - Belgium
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In June, the average FICO score for a closed mortgage was 728, a drop from 742 a year prior, according to data from Ellie Mae, a company that processes mortgage applications for lenders. FICO scores range from 300 to 850. -- Sam Thompson with NorthPoint Mortgage
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Also from Sam Thompson:
30 Year Fixed: 3.990%
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APR 4.162%
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15 Year Fixed: 3.125%
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APR 3.313%
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7/1 ARM: 3.000%
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APR 3.306%
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5/1 ARM: 2.750%
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APR 3.140%
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FHA 30 Year Fixed: 3.750%
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APR 5.223%
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Jumbo 30 Year Fixed: 4.000%
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APR 4.177%
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Jumbo 15 Year Fixed: 3.375%
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APR 3.540%
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Jumbo 7 year ARM: 3.125%
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APR 3.426%
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Jumbo 5 year ARM: 2.875%
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APR 3.412%
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Shared and taken by John Brody, Ponte Neuf, Paris
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Nat'l Real Estate Post:
Somebody, Pershing, is suing the federal gov't on 5th ammendment grounds that Fannie and Freddie should be taken out of conservatorship. Watch the episode to get the details. This is a good one!
http://thenationalrealestatepost.com/government-finally-getting-sued/?
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