coos bay properties: FORECLOSURE SALES HIT THREE YEAR HIGH
- 02/04/14 04:06 AM
by Coos Bay Properties Foreclosure sales and short sales made up approximately 16.2% of residential sales in the United States last year, according to RealtyTrac’s 2013 U.S. Residential and Foreclosure Sales Report. That percentage is up 14.5% from 2012, and up 15.2% from what was reported in 2011. Foreclosure activity has been decreasing, falling to a seven-year low last year. Experts say that these sales are due to foreclosures during the recession that are just now getting off of the market. Daren Blomquist, RealtyTrac Vice President said, “it may surprise some to see distressed sales rising in 2013, given that new foreclosure (0 comments)
coos bay properties: Labor Market Showing Signs of Growth
- 01/24/14 03:59 AM
by Coos Bay Properties American unemployment benefit claims increased marginally last week, but experts say that the labor market is continuing to improve. According to the Labor Department, initial state claims slightly increased to a seasonally adjusted rate of 326,000. The claims report covered the January payroll period excluding farm payroll, and found that claims decreased 12,250 between the months of December and January. Experts say this data suggests job creation and growth will accelerate throughout the remainder of the month. More here (0 comments)
coos bay properties: Foreclosure Rates Fall To Six Year Low
- 01/18/14 09:36 AM
by Coos Bay Properties According to RealtyTrac, foreclosures in the U.S. last year fell 26% from 2012. 2013 saw the lowest level of foreclosures in six years. The total number of foreclosures, scheduled auctions, notices of default and bank repossessions fell to 1.36 million last year, helping the national foreclosure rate decrease to approximately 1.04%. The vice president at RealtyTrac, Daren Blomquist said, “millions of homeowners are still living in the shadow of the massive foreclosure crisis, but the shadow cast by the foreclosure crisis is shrinking as fewer distressed properties enter foreclosure and properties already in foreclosure are poised to (0 comments)
coos bay properties: Mortgage Rates Remain Steady
- 01/12/14 04:47 AM
by Coos Bay Properties New data from Freddie Mac states that mortgage rates stayed around the same this week. The 30-year, fixed-rate mortgage for last week averaged 4.51%, up from 3.40% last year, and down 0.2% from the week prior, while the average 15-year, fixed-rate mortgage came in at 3.56% up 0.1% from last week. The chief economist and vice president of Freddie Mac, Frank Nothaft said, “mortgage rates were little changed amid a week of light economic reports.” Additionally, job reports showed a slight improvement, growing by 238,000 from November to December, up from 229,000 in November. More here (0 comments)
coos bay properties: Mortgage Rates On The Rise
- 01/04/14 03:14 AM
by Coos Bay Properties According to Freddie Mac’s mortgage survey, the average fixed-rate mortgage is continuing to see a slight increase. Pending home sales jumped 0.2% last month, and consumer confidence also experienced additional growth as 2013 came to a close. 30-year fixed-rate mortgages averaged approximately 4.53%, up from 4.48% last week, and the average 15-year-fixed rate mortgage increased from 3.52% to 3.55%. More here (0 comments)
coos bay properties: New Home Sales Decreased From October To November
- 12/30/13 09:01 AM
by Coos Bay Properties New home sales in the U.S. have taken a slight fall, decreasing 2.1% last month and falling from a five-month high. According to the Commerce Department, sales volume decreased to a seasonally-adjusted annual rate of 464,000. Although percentages are down from the previous month, November’s rates still exceeded many expectations and remain near a five-year high. More here (0 comments)
coos bay properties: November Home Sales Fall
- 12/22/13 02:05 AM
by Coos Bay Properties According to the National Association of Realtors, home sales fell in November with previously owned home sales dropping to 4.3%, averaging an annual rate of 4.90 million units. Additionally, filings for unemployment and unemployment benefits increased against expectations. The Labor Department stated that state unemployment benefits jumped 10,000 and averaged a seasonally adjusted rate of 379,000. More here (0 comments)
coos bay properties: Mortgage Rates Fall Slightly This Week
- 12/13/13 03:26 AM
by Coos Bay Properties According to Freddie Mac, fixed mortgage rates fell this week. The 30-year fixed rate mortgage averaged approximately 4.42%, down .02% from last week. The 15-year fixed rate mortgage also dropped, falling from 3.47% last week to 3.34% this week. Additionally, the total mortgage debt for single-family housing jumped for the first time in nearly six years. Freddie Mac chief economist Frank Nothaft said, “This a positive sign, as it reflects that the pickup in new purchase money originations has offset loan pay-downs.” More here (0 comments)
coos bay properties: Single-Family Home Sales Jump 25.4%
- 12/09/13 04:43 AM
by Coos Bay Properties According to a report from the Commerce Department, new U.S. single-family home sales in October soared, jumping to a seasonally adjusted rate of 444,000, a 25.4% increase from earlier months and the highest rate seen since April 2013. The vice president of mortgage information site HSH Associates, Keith Gumbinger said, “It may very well be that a lot of folks are feeling better about their prospects and buying a new home, and builders are motivated to get folks into homes.” More here (0 comments)
coos bay properties: Single Family Housing Prices Increase
- 11/27/13 12:36 AM
by Coos Bay Properties Home prices spiked in September according to a survey showing that single family home prices in the United States experienced the largest annual gain in nearly eight years. Although home prices may scare off potential homebuyers, experts suggest that the housing market is on the right path. The chairman of the index committee at S&P Dow Jones Indices, David Blitzer said, housing continues to emerge from the financial crisis: the proportion of homes in foreclosure is declining and consumers’ balance sheets are strengthening.” More here (0 comments)
coos bay properties: Housing Market Expected To Cool Down
- 10/25/13 06:11 AM
by Coos Bay Properties Zillow’s Real Estate Market Report showed that home prices have jumped approximately 6% year-over-year. The Home Value Index increased to $163,000 by the end of last quarter, a 6.4% growth from 2012. Although home prices and mortgage rates have grown considerably since last year, economists suggest that the national housing market is beginning to slow down and stabilize. Zillow Chief Economist Dr. Stan Humphries said, “we’re relieved to see more noticeable signs of cooling in the market. If home values continued to rise as they have, relatively unchecked, we would almost certainly be headed into another bubble (2 comments)
coos bay properties: Government Shutdown Expected To Slow Housing Market Growth
- 10/05/13 05:05 AM
by Coos Bay Properties According to housing market experts, the government shutdown could possibly hurt the growth of the housing industry. Since the housing crash took place in 2008, lenders requested more financial information from borrowers, including tax returns. Experts say that as long as the government is shutdown, the IRS will not be processing forms needed to provide essential information to complete the loan application process. Additionally, government employees will have a difficult time showing proof of employment. More here (0 comments)
coos bay properties: Mortgage Delinquencies And Foreclosure Rates Fall
- 09/28/13 02:55 AM
by Coos Bay Properties According to Lender Processing Service’s First Look mortgage report, which covers approximately 70% of the Unites States mortgage market, foreclosures and mortgage delinquencies have dropped considerably across the U.S. The loan delinquency rate averaged 6.20% last month, down 3.31% from July, and down 10% from August 2012. Foreclosure rates have also dropped 34% year-over year, dropping to the lowest point seen in 4 ½ years, averaging 2.66%. More here (0 comments)
coos bay properties: Single-Family Housing Starts And Permits Increase
- 09/20/13 02:31 AM
by Coos Bay Properties Single-family housing construction picked up in August along with future construction permits. According to the Commerce Department, single-family housing starts jumped 7.0%, the highest level seen in 6 months, averaging an annual rate of 628,000 units. Construction permits for single-family housing also increased hitting a five-year high. Economist at RBS, Guy Berger said, “homebuilding seems to be holding up decently in the higher mortgage rate environment, probably due to the support of strong underlying fundamentals – thin inventories and steady household formation.” Additional starts and permits are expected over the coming months, according to experts. More here (0 comments)
coos bay properties: Mortgage Rates Expected To Change
- 09/14/13 04:55 AM
by Coos Bay Properties Freddie Mac stated that mortgage rates remain unchanged from last week. Experts expect rates to take a vast and speedy turn next week as the Federal Reserve is scheduled to address the bond purchase program. 30-year loans averaged 4.57% this week while the 15-year loan also remained steady at 3.59%, both 0.01% away from a two-year high. Additionally, since May of this year, mortgage rates have increased more than a percentage point in the U.S. More here (1 comments)
coos bay properties: Foreclosure Completions Fall By 65,000
- 08/30/13 04:08 AM
Coos Bay Properties Foreclosures dropped in the U.S. according to a report released by CoreLogic. As further proof the housing market continues to make significant strides in recovery, foreclosures fell by 65,000 in July. The number of completed foreclosures averaged around 49,000, down 4,000 from June 2013. As the year comes to an end, home prices and sales are continuing to increase while foreclosures are slowing. More here (0 comments)
coos bay properties: Mortgage Rates Hit 2 Year High
- 08/25/13 01:53 PM
by Coos Bay Properties U.S. mortgage rates increased to the highest level seen in two years as home sales pick up. According to Freddie Mac, the average 30-year fixed mortgage jumped to 4.58% while the average 15-year rate increased to 3.6%, the highest levels reported since mid-2011. Chief Executive Officer, Robert Niblock said, “the rate increases will likely take some steam out of the recent housing market rebound, but shouldn’t derail it as long as job gains persist, homes continue to appreciate and rates rise more gradually going forward.” Experts say that many home-buyers are taking advantage of historically low buying (0 comments)
coos bay properties: Boomerang Buyers Double From 2012
- 08/09/13 11:31 AM
by Coos Bay Properties An increasing number of Americans who lost their homes during the recession are making great strides and becoming homeowners once again. According to national housing industry research firm, John Burns, approximately one in ten home buyers in 2013 have experienced foreclosure, bankruptcy, or a short sale in the last several years, double the number reported last year. More here (0 comments)
coos bay properties: Housing Market Growing Faster Than Economy
- 08/02/13 05:14 AM
by Coos Bay Properties Home prices have soared across the 20 major cities in the United States. In May 2013, home sales jumped 12.2% from May 2012, the largest annual gain since March 2006. Many economists say the housing market is showing great signs of growth, but that does not always indicate that the economy is growing at the same speed. Experts have forecasted that, in 2014, residential investment will increase 10.3% while the overall economy is only expected to increase 2.2%. More here (0 comments)
coos bay properties: Mortgage Rates Fall From Last Week
- 07/21/13 03:58 AM
by Coos Bay Properties Mortgage rates are lower this week with 30-year fixed rate mortgages decreasing to 4.37%, a 0.14% drop from the previous week. The 15-year fixed rate mortgage also dropped 0.12% from last week averaging 3.41%. Chairman Ben Bernanke said, “the Fed will continue to stimulate the economy, even after it begins to slow the bond purchases.” Mortgage rates overall remain historically low, helping to fuel economic growth and aid the housing recovery. More here and here (0 comments)
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