From the monthly archives: August 2010

Mortgage rates are always a little jumpy near the holidays and this week doesn’t look to be any exception.

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Mortgage rates would have been volatile this week. The presence of Labor Day just piles on. If you have a chance to lock something favorable and within your budget, consider doing it.

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Interest rates had an interesting week last week.

They were absolutely crushed by almost 0.25% on Friday, yet mortgage rates improved on the week and traced all-time lows on Thursday afternoon.

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When Chairman Bernanke talks, markets listen. His comments about the U.S. economy helped fuel a late-Friday surge in mortgage rates last week.

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Home Affordability by Metro Area

On August 27, 2010 By

Home affordability continues to hit new records. Home prices have stabilized, but have not surged higher and yet we’re still seeing record lows for mortgage rates.

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With home prices holding firm and mortgage rates still dropping, home affordability is reaching new heights.

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New Home Supply Higher

On August 26, 2010 By

Yesterday’s news was from the National Association of Realtors and was the weakest Existing Home Sales report in 15 years. Today’s story is a similar release from the U.S. Census Bureau regarding the New Home Sales report.

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Although new home inventory actually dropped 2,000 units in July, the slowing sales pace still managed to push the national supply higher by 1.1 months. At July’s rate of sales, the nation’s new home inventory would be exhausted in just about 9 months.

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Home buyers today have timed it right.

Yesterday’s post addressed the fact that home loan approvals are getting easier. (Full Article: Home Loan Approvals Getting Easier ) Mortgage rates are at their lowest levels in history. Home prices, while recovering, still sit well below their April 2007 highs.

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The number of home resales plunged by 1.4 million units in July. Home buyers may uncover opportunities for a deal.

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