Mortgage Rates Drop to Record Low Again
Fixed mortgage rates dipped to a record low for the second consecutive week as borrowing costs remain low to support the housing recovery. The 30-year fixed-rate mortgage fell to 3.31 percent for the week ending Nov. 21, from last week’s 3.34 percent and a year… Read More »
EmailHousing Starts Surged 3.6 Pct in October
The Commerce Department reported today that housing starts rose 3.6 percent in October to an annual pace of 894,000, the best rate in more than five years. Superstorm Sandy had a “minimal” effect on residential construction for October, the Commerce Department said, though the storm is expected… Read More »
Mortgage Rates Fall to New Low of 3.34 Pct
Average rates on fixed mortgages fell to new record lows. Freddie Mac says the rate on a 30-year loan dropped to 3.34 percent. That’s down from the previous record low of 3.36 percent set on October 4, which was the lowest since long-term mortgages began… Read More »
Home Prices in 20 Cities Post Strong Gain
The housing market continued to show strong signs of recovery, with residential real-estate prices rising an average of 2 percent in August in 20 key markets. The S&P/Case-Shiller index released today showed the biggest year-to-year gain since July 2010. In July, the index was up 1.2… Read More »
New Home Sales Climb 5.7 Pct in Sept.
Today there is yet more evidence of a healing housing market. New homes sold in September at the fastest rate since April 2010, when sales were boosted by a tax credit for first-time homebuyers. The Commerce Department says sales increased 5.7 percent to a seasonally… Read More »
Home Sales on Track as Prices Rise
A new report shows a slowly healing housing market, over its darkest days but not yet completely healthy. Existing home sales– the biggest chunk of the housing market–came in as expected at a seasonally adjusted annual rate of 4.75 million in September, according to the… Read More »
Canadian Town Sells $10 Plots of Land
Got an extra ten bucks? If so, you, too, could be the owner of a sparkling new plot of land in Reston, a rural prairie town in southern Manitoba bordering Saskatchewan on the west and North Dakota on the south. In an effort to jump… Read More »
Rule Would Protect Banks Against Mortgage Borrower Suits
A regulatory change under consideration by bureaucrats in Washington would give banks new legal protections against being sued by borrowers. Mortgage customers, for example–those deemed most able to repay–would effectively be prohibited from suing to stop foreclosures. Kathleen Day, spokesperson for The Center For Responsible… Read More »
New Home Construction Highest in Four Years
U.S. builders started construction on single-family homes and apartments in September at the fastest rate since July 2008, according to the Commerce Department. Builders began work on 872,000 new homes – at a seasonally adjusted rate – in September. That’s an increase of 15 percent… Read More »
Mortgage Rates Hit Record Low for Second Week
Mortgage rates reached an all-time low for the second consecutive week amid the Federal Reserve’s purchase of securities and “indicators of a weakening economy,” government-sponsored Freddie Mac, said Thursday morning. The weekly average for the 30-year fixed-rate mortgage in the U.S. fell to 3.36 percent for… Read More »
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