First Time Home Buyers
From the monthly archives: July 2009
The national home supply is falling, down to its lowest levels since December 2008.
In June, there was 9.4 months of supply, down from a year-ago level of 11.0 months. It’s one more sign that the housing market may be mending itself.
Housing supply is an important [...]
Continue Reading →The 30 Year rate jumped yesterday, fueled by a few things: Concerns over supply with the Fed slated to auction off $100MM+ next week plus a stock rally that saw the Dow best the 9000 mark.
The 30 Year took the brunt of the blows with the 5/1 ARM holding moderately [...]
Continue Reading →Home values around the country appear to be leveling.
The Federal Housing Finance Agency’s latest Home Price Index report shows values up by nearly 1 percent in May versus the month prior.
Since peaking in April 2007, values remain off by 11 percent nationwide.
The FHFA [...]
Continue Reading →Rates improved again yesterday with Fed Chair Ben Bernanke’s testimony addressing long-term inflation on a couple of different levels. The adjustable rates are sitting at ridiculously low levels as well again.
Get the full story from today’s update
30 Year Fixed Rate Points APR 4.875% 0.92% 5.016% 5.000% 0.57% 5.111% 5.125% 0.25% 5.209% 20 [...]
Continue Reading →Fed Chairman Ben Bernanke gave his semi-annual testimony to Congress and mortgage rates rallied significantly.
The leading cause was his discussions of his “exit strategy” from its massive market stimulus.
Wall Street like the news that the Fed has a plan on how to unwind this unprecedented spending.
Continue Reading →1. $8,000 – New Buyers: The lower of 10% of purchase price or $8,000–in other words, over $80,000, the $8,000 first time homebuyer tax cap will apply. This is only for first-time home buyers (see point 2) and on principal residences. Unlike last year’s $7,500 home buyer tax credit, you’re not repaying $500 a year [...]
Continue Reading →Mortgage rates are on a two-day rally right now. Great news for home shoppers and floating refinances. While everything has changed in the past year or two, one old rule holds constant:
In forecasts of high inflation, rates go up. In forecasts of low-to-stable inflation, rates go down. In forecasts of [...]
Continue Reading →Housing Starts thumped expectations in June. A “housing start” is a new home on which construction has started. Last month’s jump in single-family starts is the largest one-month jump since 2004.
This is the latest news that says that housing might be recovering. It’s not without a mixed [...]
Continue Reading →Mortgage rates are roughly flat on the day after last week’s strong sell-off. For the first time since June, rates tracked up over the course of the week. In a very closely related story, the stock markets surged ahead by 7% and that explains where all the money went.
30 Year Fixed Rate Points [...]
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