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  • Increasing Home Prices?

    Increasing Home Prices?

    May 24, 2013 at 9:08 am / Rick's Blog

    In the second quarter of 2013 home prices increased by 1.9% from the first quarter and May marks the seventh consecutive quarterly price increase in the purchase-only, seasonally adjusted index rate according to the Federal Housing Finance Agency. Additionally home prices have increased 6.7% from the first quarter of 2012 to the first quarter of 2013. “The housing market has stabilized in many areas and homebuilding activity has strengthened in recent quarters.” says Andrew Leventis an economist for FHFA. More here

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  • Increasing Mortgage Rates Now Near 2013 Highs

    Increasing Mortgage Rates Now Near 2013 Highs

    May 23, 2013 at 11:08 am / Rick's Blog

    According to HSH’s Weekly Mortgage Rates Radar, mortgage rates have inched up from last week. 30-year fixed-rate mortgages rose 0.07% from last week, averaging 3.68% this week while conforming 5/1 Hybrid Adjustable Rate Mortgage rates also jumped 3 basis points averaging 2.62%. The vice president of HSH.com, Keith Gumbinger said, “after reaching lows for the year just four weeks ago, and despite plenty of mixed economic signals, 30-year fixed mortgage rates have quickly moved back to near this year’s highs.” More here

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  • Home Improvement Stores Profiting From Housing Market Growth

    Home Improvement Stores Profiting From Housing Market Growth

    May 22, 2013 at 10:16 am / Rick's Blog

    Many home-improvement retailers gain revenue due to housing market improving pushing more consumers to invest in home projects. Home Depot, United States largest home improvement retail store posted a first-quarter profit showing net income increased to $1.23 billion an 18% increase. More homeowners and homebuyers are gaining confidence in the housing market due to home prices rising and are then spending more money on home improvements. More here

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  • Expect Economy to Accelerate For Remainder of 2013

    Expect Economy to Accelerate For Remainder of 2013

    May 21, 2013 at 10:42 am / Rick's Blog

    The U.S. economy is expected to grow as the year continues and the housing market improves according to Fannie Mae’s economic outlook. Many experts believe the housing market will continue to help improve the economy into 2014. Doug Duncan, Fannie Mae’s chief economist said, “our May forecast predicts that the second half of 2013 will be a little stronger than the first half, despite the slowdown during the past couple of months.” More here

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  • Increasing Mortgage Rates?

    Increasing Mortgage Rates?

    May 20, 2013 at 12:02 pm / Rick's Blog

    In a recent survey Freddie Mac reports mortgage rates have increased but are still near record lows. In April consumer retail sales grew despite the forecasted decline in retail sales many experts had forecasted. Mortgage delinquencies continued to fall. 30-year fixed-rate loans at an average of approximately 3.51% and 15-year fixed-rate mortgages averaged 2.69% this week and according to a study from Mortgage Grader brokerage, closed home loans used for purchase only jumped 15% from January 2013. More here

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  • Confidence in Housing Market Jumps 3 Points

    Confidence in Housing Market Jumps 3 Points

    May 17, 2013 at 9:18 am / Rick's Blog

    Housing market confidence has increased 3 points from April to May averaging around 44 points according to the National Association of Home Builders index. Rick Judson, chairman of the building association said, “builders are noting an increased sense of urgency among potential buyers as a result of thinning inventories of homes for sale, continuing affordable mortgage rates and strengthening local economies.” Reaching  there highest averages since early 2007 the current-sales index gained 4 points this month and future expectation of home sales also increased 1 point. More here

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  • Mortgage Applications Fall Slightly From Last Week

    Mortgage Applications Fall Slightly From Last Week

    May 16, 2013 at 8:56 am / Rick's Blog

    Home purchases and refinancing slowed down last week causing mortgage application to drop slightly.  Mortgage Application dropped 7.3% according to the Mortgage Bankers Association. Even with this drop mortgage application are 10% higher then lasts years levels. Mortgage Rates also increased but are still near all time lows. More here

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  • High Housing Affordability Levels For Early 2013

    High Housing Affordability Levels For Early 2013

    May 15, 2013 at 2:20 pm / Rick's Blog

    According to the National Association of Realtors, United States housing affordability has increased to historically high levels in 2013′s first quarter. 73.7% of new and existing homes sold in the first three months of the year were considered affordable for Americans earning a median income. Housing affordability is subject to change based on geological location and market size. Rick Judson, NAHB Chairman said, “thanks to very favorable mortgage rates and prices, housing affordability has remained quite high over the past four years.” More here

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  • Slight Increase In Fixed Mortgage Rates

    Slight Increase In Fixed Mortgage Rates

    May 14, 2013 at 10:08 am / Rick's Blog

    30-year fixed mortgages increased from 3.35% to 3.42% this week, according to Freddie Mac’s weekly survey. Low mortgage rates, more home sales and construction starts and completions are all on the rise in 2013; fueling the housing markets increased strength. Low mortgage rates have encouraged many Americans to consider buying homes or refinance their existing loans. More here

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