First Time Home Buyers
From the monthly archives: July 2010
We watch consumer confidence because the readings are presumed to be indicative of the entire economy. High confidence leads to higher spending, higher spending leads to economic growth, economic growth leads to higher mortgage rates.
Continue Reading →1. 13 of the 20 tracked cities are showing home price improvement year-over-year
2. Former foreclosure-leader, San Diego, has now shown 13 straight months of improvement
3. San Diego, San Francisco and Minneapolis are showing double-digit annual growth
Whether it is in the form of discounted prices, free upgrades, or closing cost credits, these homes are already priced well and just keep getting more attractive. Add in the lowest mortgage rates in history, home affordability may never be better.
Continue Reading →Mortgage rates hit their lowest levels in recorded history. Perfect timing as the Home Affordable Refinance Program is becoming increasingly available.
Continue Reading →For the first time in 6 weeks, the rate rally failed to continue. In general, stocks gained, mortgage rates lost. Slightly.
On the week, we closed down about 12 basis points, but it wasn’t without volatility.
The chart to the right is the [...]
Continue Reading →Mortgage rates improved last week as the mortgage bond market improved by yet another 41 basis points. This marked five weeks of improved interest rates on FHA and conventional loans.
Continue Reading →Freddie Mac’s most recent weekly summary shows a continued push on the all-time interest rate lows that we are currently seeing, but there’s a huge difference in rates for 740 FICOs and 660 FICOs.
Continue Reading →Mortgage rates keep pushing on these historical low levels, but not everyone is qualifying for the headline rate from Freddie Mac of “4.57 percent with an average 0.7 point.”
Continue Reading →Mortgage rates improved marginally last week in a short week devoid of any real economic reports. We’re now seeing both conventional and FHA mortgage rates on a 4-week rally.
Continue Reading →A major reason that interest rates dipped even lower last week was due to the rather disappointing jobs report.
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