Average U.S. Mortgage Interest Rates Decline - 04/29/07 09:53 PM
Average U.S. 30-year, fixed-rate mortgage loans slipped slightly to 6.16 percent, down from 6.17 percent the previous week MarketWatch reported April 26, 2007."'Recent economic data releases showing weaker existing home sales in March, coupled with lower consumer confidence in April, caused the market to pause and re-evaluate the potential growth of … (0 comments)
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New Mortgage Product Offers Flexible Terms - 04/29/07 09:52 PM
Washington Mutual, Inc., commonly referred to as WaMu, rolled out across the nation on April 26, 2007 the WaMu Mortgage Plus, a home loan product that combines a first mortgage and home equity line of credit into a single loan. Washington Mutual claims the loan has an unprecedented bundle of features, … (0 comments)
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Cambridge, MA 5th Wealthiest Zip Code - 04/29/07 09:50 PM
REALTOR® Magazine Online reported April 3, 2007 that Greenwich, CT was the richest zip code in the nation, and Cambridge, MA placed fifth.
No other Massachusetts or New England zip codes made the top 10.
"During the five-year boom in housing prices, from the third quarter through the third quarter of 2006, … (0 comments)
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U.S. Foreclosures Double - 04/27/07 06:01 PM
The number of U.S. homes entering foreclosure doubled in the first quarter compared to the same period in 2006, The Boston Globe reported April 17, 2007. "Owners of 168,829 homes in the first three months of 2007 got notices that lenders had filed for foreclosure due to failure to pay … (9 comments)
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Good News For Massachusetts Housing Market - 04/27/07 05:58 PM
As a rule of thumb, not many unemployed people are buying homes.
The Boston Globe reported April 19, 2007 that Massachusetts' unemployment rate declined in March to its lowest level in more than five years.
Employment data like that certainly is good news for the housing market.
The unemployment rate declined … (0 comments)
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Mortgage Applications Jump - 04/27/07 05:55 PM
The number of U.S. Mortgage applications jumped 3.6 percent compared to the previous week, and the spike in applications ended five weeks of declines, CNN Money reported.
The data comes from the Mortgage Bankers Association (MBA). The MBA survey includes about 50 percent of all U.S. retail residential mortgage loans. Respondents … (1 comments)
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World's Cleanest Cities - 04/20/07 08:42 PM
Forbes reported April 16, 2007 on the top 25 cleanest cities in the world.
The figures for the cleanest cities came from studies of 300 cities by Mercer Human Resources Consulting, identifying overall quality of living.
"The cleanest cities are largely located in countries noted for their democracy and their industrialization. … (1 comments)
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Mortgage Interest Rates Fall - 04/20/07 03:15 PM
Average U.S. 30-year, fixed rate mortgage interest rate fell to 6.17 percent, down from 6.22 percent the previous week, MarketWatch reported April 19, 2007.
The 30-year, fixed-rate loan stood at 6.53 percent at the same time last year.
"'Mortgage rates slipped following the latest reports of moderation in inflation rates from … (2 comments)
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Mortgage Applications Decline - 04/20/07 03:11 PM
The Mortgage Bankers Association weekly mortgage survey indicated a 2.5 percent drop in mortgage applications compared to the previous week, Reuters reported April 18, 2007.
Mortgage applications for home purchases fell 4.5 percent, and refinance applications dipped 0.3 percent compared to the previous week.
CNBC reported April 18, 2007 that "U.S. … (1 comments)
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Great Ideas For Paint - 04/20/07 03:09 PM
It's amazing what some creative use of paint can do to transform a home.
Whether you're considering ideas for your new home or trying to imagine that tired old decor in the charming house you're considering buying, the On Interior Design blog has a great post about 10 Tips On Choosing … (1 comments)
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Buyers Smell Bargains - 04/20/07 03:07 PM
Potential home buyers are following the bargains.
An article in The Boston Sunday Globe on April 15, 2007 indicated that the drop in home prices over the past 18 months has buyers jumping into the market.
"A year long slowdown in the real estate market has pushed down prices in Massachusetts, … (0 comments)
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Downtown Boston Condo Prices Remain Strong - 04/20/07 03:05 PM
The Boston Globe reported April 14, 2007 that Downtown Boston condo prices rose 7 percent in the first quarter.
"Prices for condominiums in the city jumped 7 percent in the first quarter of this year, compared to the same period in 2006, to a median $489,800, according to preliminary market figures compiled … (0 comments)
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Massachusetts Spring Outlook - 04/15/07 09:08 AM
What should you expect from the Spring real estate market? In my opinion, buyers are still very much in the driver's seat. The difference from say six months ago is there are likely to be a lot more buyers. Prospective home buyers have received the word through the media and other … (0 comments)
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Average U.S. Mortgage Interest Rates Rise For The Second Straight Week - 04/13/07 09:57 PM
USA Today reported April 12, 2007 that average U.S. interest rates for 30-year, fixed-rate mortgages rose for the second straight, climbing to 6.22 percent.
Last week average rates for 30-year, fixed-rate mortgages were 6.17 percent.
"Analysts attributed the increase to the government's release of better-than-expected job numbers for March with the … (2 comments)
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Massachusetts AG Sues Alleged Scam Artists - 04/13/07 05:55 PM
Massachusetts Attorney General Martha Coakley has sued 19 individuals and companies for alleged involvement in mortgage fraud and foreclosure rescue scams, the Boston Herald reported April 12, 2007. The AG's court filings named mortgage company owners, brokers, salespeople and real estate attorneys. "Companies cited include Primary Mortgage Resource, Universal Plus Realty … (2 comments)
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Homeowners Confused About Mortgages - 04/13/07 05:16 PM
As amazing as the following sounds, I have to say I am not exactly shock. BankRate.com commissioned a poll that showed that 34 percent of American homeowners had no idea what type of mortgage they had. The subprime mess is not so surprising when you realize more than a third … (3 comments)
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50 Massachusetts Communities Consider Tax Hikes - 04/11/07 09:52 PM
The Boston Globe reported April 1, 2007 that 50 Massachusetts communities were considering tax hikes to close budget gaps. In 1980, Massachusetts voters passed Proposition 2 1/2, the state law that requires voter approval to levy municipal property tax increases of more than 2.5 percent. "Voters this month will be asked … (0 comments)
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Don't Believe The Naysayers - 04/11/07 09:47 PM
Some so-called pundits and certainly real estate naysayers will tell you that four straight straight weeks of declining mortgage applications (0.4 percent the most recent week) means trouble for the real estate market. Don't believe it. The important number to keep in mind is that home-purchase applications rose 2.7 percent."The report … (2 comments)
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Massachusetts Subprime Roundup - 04/11/07 09:39 PM
If I posted separately every story about subprime lenders and the fallout from the loans such companies made to buyers with less than stellar credit, I could start a subprime blog. The media is obsessed with subprime lending and the amount of foreclosure filings across Massachusetts.It is big news, and it … (0 comments)
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Add Some Curb Appeal - 04/11/07 09:38 PM
Does your home have curb appeal? Better make sure the answer is "yes" before you put it on the market. According to the National Association of REALTORS® (NAR), it just may make the difference between selling your property quickly, or having it linger on the market for months. It's true. Homes … (1 comments)
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Five Hot Massachusetts Cities - 04/11/07 09:36 PM
The Boston Globe published an article, in the Globe Magazine, on April 1, 2007 highlighting five popular communities for first-time home buyers.
The five communities are Lowell, Billerica, East Boston, Watertown and Brockton.
"A shift is occurring in the area's housing market. First-time home buyers who find it impossible to afford a house … (0 comments)
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Mortgage Interest Rates Inch Up - 04/11/07 09:34 PM
CNN Money reported April 5, 2007 that U.S. average rates for 30-year, fixed-rate mortgage loans rose to 6.17 percent, up from 6.16 percent the previous week.Last year at this time, 30-year mortgage rates averaged 6.43 percent.The 15-year rate rose to an average of 5.87 percent from 5.86 percent the previous week. … (1 comments)
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North Shore Foreclosure Filings Spike - 04/04/07 09:26 AM
The Salem Evening News reported April 3, 2007 that foreclosure filings on Boston's North Shore rose 71 percent in the 12-month period that ended in February.
Most foreclosure filings are settled before a home is auctioned off - either the property is sold, borrowers come up with fresh cash, or both … (0 comments)
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U.S. Mortgage Applications Fall 3.2% - 04/04/07 09:20 AM
U.S. mortgage applications fell 3.2 percent, the third straight week the number of applications declined, USA Today reported April 4, 2007.
Applications for home purchases dropped 2 percent while refinance applications declined 4.5 percent.
The article blames the drop on an increase in mortgage interest rates; however, rates only inched … (0 comments)
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Pending Home Sales Rise In February - 04/03/07 04:21 PM
Pending sales of existing U.S. homes rose slightly in February, but the 0.7 percent rise was less than Wall Street expected, USA Today reported April 3, 20007."The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in February, rose 0.7% to 109.3 from a downwardly revised … (0 comments)
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U.S. Average Mortgage Interest Rates Hold Steady - 04/02/07 09:27 PM
MarketWatch reported March 29, 2007 that U.S. average 30-year, fixed rate mortgages remained at 6.16 percent for the week. The same mortgage averaged 6.35 percent a year ago. "'Despite concerns about possible spillovers from the troubles in the subprime market, rates on 30-year fixed-rate mortgages remained stable,' Frank Nothaft, Freddie Mac … (1 comments)
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Consumers Can Attend Trade Show - 04/02/07 09:25 PM
The two-day Residential Design and Construction 2007 trade show, which opens Wednesday at Boston's Seaport World Trade Center, is open to the public after 4 p.m., the Boston Herald reported April 1, 2007.
"... while the show is only open to tradespeople in the day, consumers can attend after 4 … (0 comments)
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