From the monthly archives: April 2010

Mortgage Rate Predictions & Unlikely Allies

On April 21, 2010 By

Mortgage rate predictions are always subject to countless variables, both foreign and domestic.  Don’t leave out Mother Nature.

In the 7 days since Iceland’s Eyjafjallajökull erupted, ash clouds have grounded planes, disrupted businesses, and stranded exports in warehouses worldwide.

It’s been a multi-billion dollar hit to the global [...]

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Will the first time home buyer tax credit be extended?

On April 20, 2010 By

We’ve been getting a surge of traffic lately on questions related to whether the first time home buyer tax credit will be extended.

In a word (or few), no and it doesn’t need to be. Housing and the economy are both slowly, but surely, in recovery mode.

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Housing Starts Data Hints That Housing Will Expand Even After The Tax Credit Expires

On April 20, 2010 By

After a strong March showing and a surprise upward-revision for February, Housing Starts are, once again, trending better.

It’s yet another signal that the housing market nationwide is stabilized.

A Housing Start is a new home on which construction has started and, over the last 6 months, home builders are averaging one half-million starts per [...]

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First Time Home Buyer Tax Credit Expiration: Not Slowing Down Builders

On April 20, 2010 By

A Housing Start is a new home on which construction has started and, over the last 6 months, home builders are averaging one half-million starts per month. This marks the highest 6-month average since 2008 and a reading one-fifth percent better from 12 months ago. Revisions to prior data have all been higher, too.

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Mortgage Rate Predictions: Week of April 19, 2010

On April 19, 2010 By

We saw a second consecutive week of mortgage rate improvement last week.  Also for the second week in a row, the reason for the downward trend in mortgage rates was “safe haven” buying.

As we’ve discussed before, safe haven buying is when investors sense market risk, then move money toward less risky investments.  With the [...]

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Mortgage Interest Rate Predictions: Week of April 19, 2010

On April 19, 2010 By

We’re now in a 10-day mortgage rate rally that started on April 5th and could not have been better timed for first time home buyers.

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Fixed v ARM Mortgage Rates

On April 16, 2010 By

The fixed v. ARM comparison hasn’t been very popular over the past few years.  In looking at the most recent Freddie Mac survey of 125 banks, you can see why the comparison is coming up again.

Just twelve months ago, we were actually inverted–meaning the 5/1 ARM rate was higher than the 30 Year [...]

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5/1 ARM gains versus 30 Year Fixed

On April 16, 2010 By

The 5/1 ARM is pulling away from the 30 Year Fixed. This is a big change in loan options versus a year ago. The 30 Year Fixed v. 5/1 ARM comparison this time last year was $0 difference.

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How To Buy Bank-Owned Homes

On April 15, 2010 By

From our friends at RealtyTrac.com, foreclosure filings rose close to 20 percent nationwide last month versus February. In the first quarter of 2010, bank repossessions hit a new all-time record:  257,000 homes.

This is not a news flash:  The foreclosures remain concentrated in a very small amount of states. It’s been like this for this [...]

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Foreclosures & First Time Home Buyers

On April 15, 2010 By

California, Florida, Arizona and Georgia accounted for more than half of all bank repossessions in March 2010. It’s a disproportionate distribution of foreclosures. Together, the 4 states represent just 23 percent of the overall U.S. population.

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