Just when it seemed like rates could not fall any further, Freddie Mac reported fixed mortgage rates sunk even further for the week ending May 10.
The 30-year fixed-rate mortgage averaged 3.83 percent (0.7 point), down slightly from last week’s average of 3.84 percent. A year ago at this time, the 30-year was 4.63 percent. The 15-year fixed also moved downward, ending at 3.05 percent (0.7 point) this week. Last week it averaged 3.07 percent, and last year at this time it was 3.82 percent. The 5-year ARM dropped to 2.81 percent (0.5 point) compared to 2.85 percent last week and 3.41 percent a year ago at this time.
For complete article: http://www.dsnews.com/articles/rates-continue-to-fall-hitting-new-lows-amid-economic-concerns-2012-05-10
Both the expectation for home prices and the percentage of those who think the U.S. economy is on the right path reached record highs in Fannie Mae’s April 2012 National Housing Survey.
Americans continue to expect home prices to go up, with the projection averaging 1.3 percent over the next 12 months, the highest value recorded.
At 71 percent, a high percentage of Americans still say it is a good time to buy while the percentage who said it is a good time to sell was 15 percent, a 1 point increase from March.
For complete article:
http://www.dsnews.com/articles/fannie-mae-more-americans-expressing-confidence-in-economy-and-home-values-2012-05-07
According to data from Clear Capital, over the last year, REO prices have increased 5.5 percent, while fair market prices dropped 2.9 percent. The real estate data provider explained that demand for REOs is most likely causing the increase in prices and named Carrington Holding Company, Amherst Securities Group, and Waypoint Financial as examples of investors purchasing single-family REOs with the purpose of converting them into rental properties.
For complete article: http://www.dsnews.com/articles/reo-prices-increase-fair-market-drop-while-home-values-seem-to-be-stablizing-2012-04-30
Pending homes sales in California were higher for January compared to the previous month and year, and short sales rose to the highest level in three years, according to the California Association of Realtors (C.A.R.).
Based on signed contracts, C.A.R.‘s Pending Home Sales Index (PHSI) climbed from a revised 91 in December to 102.4 in January and was also up from last year when the PHSI was 93.1 in January 2011. Pending home sales are indicators of future home sale activities, providing information on where the market might be heading.
For complete article: http://www.dsnews.com/articles/pending-sales-in-ca-up-short-reach-highest-level-3-years-2012-02-23
The real estate professionals at Massachusetts-based McGeough Lamacchia Realty have been proponents of short sales for quite some time, insisting that everyone comes out ahead when a short sale is achieved as opposed to a foreclosure. Now they’re sharing the facts that back up their claim.
On average a home sold through short sale brings a 24 percent greater return than a foreclosed property, according to recent findings from McGeough Lamacchia Realty.
For the complete article,
http://www.dsnews.com/articles/short-sales-bring-24-greater-returns-than-foreclosures-2012-02-24
