One byproduct of the Fed’s decision last week to buy long term Treasuries was that mortgage rates fell once more to historic lows.
At last week’s meeting, The Fed Chairman announced that the Fed would sell up to $400 billion of short term Treasuries and buy the equivalent amount of long-term ones.
While the stock market failed [...]
As our attention has become focused on the current tough economic patch, many are missing a great opportunity to save tens or even hundreds of thousands of dollars via refinancing.
Mortgage rates today are at historic lows. They have dropped for six weeks in a row and the benchmark 30-year fixed-rate mortgage now stands at 4.35%, [...]
Home prices in the U.S. increased by 0.8% in July 2011 compared to June 2011, the fourth consecutive month-over-month increase, according to Corelogic’s just released July Home Price Index (HPI).
However, national home prices, including distressed sales, still declined by 5.2% in July 2011 compared to July 2010 after falling by 6.0% in June 2011 compared [...]
Home prices in the U.S. increased by 0.7% in June 2011 compared to May 2011, the third consecutive month-over-month increase, according to Corelogic’s just released June Home Price Index (HPI).
However, national home prices, including distressed sales, declined by 6.8% in June 2011 compared to June 2010 after falling by 6.7% in May 2011 compared to [...]
As politicians engaged each other in ideological and legislative combat last week, mortgage rates fell to new lows.
The most popular rate, the 30-year fixed mortgage, fell from 4.57% to 4.45% last week , to its lowest point since last November, according to the Mortgage Bankers Association (MBA).
The average contract interest rate for 15-year fixed-rate mortgages also fell [...]
The Obama Administration launched the Hardest Hit Fund back in 2010 to help homeowners avoid foreclosure in areas hardest hit by steep home price declines and unemployment.
Participating housing finance agencies (HFAs) in 18 states and the District of Columbia are implementing various initiatives to help homeowners struggling with their mortgage payments.
All participating HFAs have expanded [...]
We have been through the era of conspicuous consumption (though some say we never left it…) We have also been through the housing crash, which left millions of homeowners underwater and prices of homes plummeting.
Yet among the very rich and at the high end, home prices have not budged, other than upwards. Thus we present [...]
Standard and Poor released its S&P/Case-Shiller Home Price Indices today showing that through May 2011, prices of homes in the U.S. showed a modest increase.
Prices for the index’s 10- and 20-City Composites were up 1.1% and 1.0%, respectively, in May over April.
Sixteen of the 20 metropolitan areas and both Composites posted positive monthly increases; Detroit, [...]
Fannie Mae (the Federal National Mortgage Association) has released a new June 2011 study showing gloomy attitudes by Americans towards home ownership as the nation struggles to emerge from the housing led recession.
The survey showed that a majority of the 1,000 respondents expected home prices to decline over the next 12 months by 0.5%. This [...]
A few years after bad subprime housing loans tanked the U.S. economy, they appear to be making a comeback, according to a recent article in the WSJ.
New rules and oversight in place after the near-economic meltdown meant that banks could no longer offer no-documentation loans. Credit standards were also stiffened for loan applicants.
A few private [...]
Coldwell Banker Real Estate LLC just released its housing survey for 2010/2011 ranking over 2,300 housing markets in the United States and Canada that examined prices for 4-bedroom, 2 bathroom homes.
To no one’s surprise, Newport Beach, California, was the most expensive housing market for the second year in a row, with $2.5 million being the [...]
The New York Times is reporting that some banks, including JP Morgan Chase and Bank of America have begun to modify terms on loans that are not even in default, reducing balances and improving other aspects of the loans.
More than a quarter of all homeowners in the United States are underwater and this may be [...]
A few months ago, we decided to remodel our outdated bathrooms, but were understandably wary about contractors and all the stories we heard about price gouging and shoddy work.
I had two objectives - to learn a bit more about how remodeling was done, that is to demystify contracting work; and to save money by employing [...]
If you have a mortgage, you should always be on the lookout for refinancing opportunities. In other words, you should regularly check whether refinancing at a lower rate will benefit you. This is one of those simple things that many overlook because they get too busy.
The important factors in the mortgage refinancing decision are:
How much [...]
Below are 10 of the best rates for 15-year standard mortgages in Alabama. The loan assumes a loan of $200,000, a $40,000 down payment and very good credit.
Below are 10 of the best rates for 15-year standard mortgages in California. The loan assumes a loan of $200,000, a $40,000 down payment and very good credit.
Many banks have tightened mortgage qualification criteria since the great recession of 2008. There is also great variation in the terms of offered mortgages. Therefore, you must work hard to find the best mortgages rates in your state.
You should also carefully examine whether a 15-year or 30-year mortgage is most appropriate for you. 30-year mortgages [...]
As the US population ages, many seniors are facing more uncertain times and the prospect of their savings running out before they die.
Enter the reverse mortgage. A reverse mortgage is a loan offered by banks and mortgage firms exclusively to seniors 62 years old and up who own their own homes. The loan is against [...]
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