Articles About Mortgage Rates

Confidence in American homebuilders rose in December for the third consecutive month, a sign that the housing market is finally stabilizing.  The National Association of Home Builders/Wells Fargo (NAHB) Housing Market Index (HMI) of builder confidence climbed to 21 — the highest level since May 2010 — from a revised 19 in November.   Economists […]

A new phenomenon has emerged that is depressing the sales of existing homes. Contract cancellations are surging, dashing hopes that the distressed housing market is showing signs of improvement.  According to the National Association of Realtors (NAR), sales fell 0.8 percent in June compared with May to an annual rate of just 4.77 million units, […]

The current national inventory of foreclosed homes represents a three-year supply, according to RealtyTrac.  Not surprisingly, that is depressing home prices.  “This is very bad for the economy,” said Rick Sharga, a RealtyTrac spokesman. In Las Vegas, the foreclosure situation is so dire that more than half of all homes sold in Nevada are foreclosures.  […]

Although analysts are sounding a cautionary note, the number of Americans applying for mortgages rose by 16.1 percent in the first week of March – the largest monthly increase since June of 2009. The activity could be due to investors with money to spend, and not the first-time homebuyers who will play a vital role […]

Mortgage rates have hit a record low.  According to Freddie Mac, rates for 30-year mortgages fell to 4.27 percent from 4.32 percent in just one week.  At the same time, safe-haven government debt is more appealing to investors than ever, according to a Freddie Mac survey. The low rates may be a sign that housing […]

Apartment vacancies in the United States hit a 30-year high during the fourth quarter of 2009 as many would-be renters moved in with family or roommates to save money.  According to Reis, Inc., a New York research firm that tracks vacancies and rents in 79 markets across the country, the apartment vacancy rate was eight […]

Downtown Chicago apartment buildings – especially Class A properties – are seeing a resurgence in occupancy and rental rates as residents apprehensive about the condominium market choose to rent rather than buy.  The average effective rent of downtown apartment buildings climbed to $2.17 PSF in the second quarter, a 2.4 percent increase over the first […]

Sales of new and existing homes rose in June for the third straight month, due primarily to low prices and attractive mortgage rates.  Home sales also rose 11 percent over the previous month. The federal tax credit for first-time homebuyers helped to drive the uptick.  Additionally, home prices rose for the first time in three […]

Despite all the doom-and-gloom reports on the residential real estate market, there are some bright spots.  In several markets, housing has become surprisingly affordable to families earning a median household income of $61,500.  And there’s more good news.  Mortgage rates are again nearing the record lows of a few years ago; and family incomes jumped […]