Sales of existing U.S. homes rose for the third month in a row in June, accompanied by increases in both price and inventory, according to the National Association of Realtors, as low interest rates continued to boost affordability.
Total existing-home sales grew 2.6 percent in June to a seasonally adjusted annual rate of 5.04 million, up from 4.91 million in May, but the new pace is down 2.3 percent from the previous year.
Inventory climbed 2.2 percent in June to a total of 2.30 million existing Read more [...]
The number of completed foreclosures made a major yearly drop, according to new data from foreclosure tracking firm CoreLogic, even though they rose on a monthly basis.
The CoreLogic National Foreclosure Report showed that there were 47,000 completed U.S. foreclosures in May, up 3.8 percent from 45,000 in April. Compared with May 2013, however, foreclosures were down 9.4 percent from 52,000. While the yearly decline is encouraging, things are still a long way from their pre-mortgage meltdown Read more [...]
Long-term mortgage interest rates slid back down in the latest week, according to mortgage giant Freddie Mac, matching their lowest level year-to-date.
The Freddie Mac Primary Mortgage Market Survey found that the average rate on a 30-year fixed rate mortgage (FRM) slipped to 4.12 percent, excluding points during the week ended July 3, 2014, down from 4.14 percent. That ties with the lowest rate this year from just over a month ago during the week of May 29. Last year at this time, the average Read more [...]
U.S. home prices made a record come back over the past year, causing many analysts to worry that some markets were in danger of developing “bubble” conditions like those seen in 2006. Housing data firm Trulia says there is no cause for alarm right now. In fact, Trulia chief economist Jed Kolko asserts that most U.S. housing markets are still undervalued compared to historical levels.
After meteoric growth since the beginning of 2013, home prices have finally leveled out again, as the S&P/Case-Shiller Read more [...]
After a slow start this year, sales of existing U.S. homes finally made some forward progress in April, according to the National Association of Realtors, as inventory jumped and prices moderated.
Total existing-home sales rose 1.3 percent to a seasonally adjusted annual rate of 4.65 million last month, up from 4.59 million in March. Compared with last year at the same time, sales are down 6.8 percent though.
A major jump in available inventory helped home prices to grow at a more relaxed pace Read more [...]
A downward trend in existing home sales continued in March but runaway home prices kept up their own pace too, a sign of a seriously unbalanced market.
U.S. existing home sales fell to a seasonally adjusted annual level of 4.59 million last month, down 0.2 percent from February’s 4.60 million, according to data from the National Association of Realtors. Compared with March 2013, sales were down 7.5 percent. Sales are now at their slowest pace in almost two years, since July 2012.
At the same Read more [...]
Good news for buyers coming into the spring home-buying season: mortgage credit is now more available that it has been in the past three years, as lenders warm up to the potential for more home loan revenue.
The Mortgage Bankers Association’s Mortgage Credit Availability Index rose 0.44 percent to 114.0 in March, up from 113.5 in February. The MBA set its baseline index at 100 in March 2012. An increase in the index indicates looser credit standards.
“I don’t think there’s any question Read more [...]
The number of U.S. homes in some stage of foreclosure fell 35 percent during the past year, according to new data from foreclosure data company CoreLogic.
There were 752,000 homes in the foreclosure inventory in February 2014, down from 1.2 million one year earlier. As of February, the foreclosure inventory accounted for 1.9 percent of all mortgaged homes, a major decrease from 2.9 percent in February 2014. Foreclosures were also down on a monthly basis, falling 3.3 percent from January.
The Read more [...]
With some encouragement from Federal Reserve Chairwoman Janet Yellen, long-term mortgage interest rates rose in the latest week, according to mortgage giant Freddie Mac, hitting a nine-week peak.
The average rate on a 30-year fixed rate mortgage jumped to 4.40 percent, excluding fees, during the week ended March 27, up from 4.32 percent the week before. Rates have not been this high since the middle of January. Last year at the same time, the average rate was only 3.57 percent.
"Mortgage rates Read more [...]
Sales of existing U.S. homes fell slightly again in February, while the median home price edged up, according to the National Association of Realtors.
Total existing home sales slipped 0.4 percent last month to a seasonally adjusted annual pace of 4.60 million homes compared with a 4.62 million pace in January. Sales are also down 7.1 percent from February 2013.
“We had ongoing unusual weather disruptions across much of the country last month, with the continuing frictions of constrained Read more [...]