Special offer

Real Estate News Recap for August 1 - 6

By
Services for Real Estate Pros with HouseHunt.com DRE# 01297932

Hello everyone!

I wanted to do a quick write up recapping last week's happenings in the real estate industry as reported across the country.

For the week of August 1 - 6

The trend of rates dropping on 30 year Fixed Rate Mortgages continued last week as rates saw yet another record low, dropping last week to 4.49%. For buyers able to make a purchase, this is literally one of the best opportunities to buy in decades. The rate on 15 year Fixed Rate Mortgages also fell to a new record low, ending the week at 3.95%, down from last week’s previous record low of 4%.

USA Today reported last week that Fannie Mae has asked the U.S. Government for an additional $1.5 billion from taxpayers on the heels of posting a loss in the second quarter of 2010. The mortgage giant reported losses of over three billion from April-June, a number that is actually the best seen by Fannie Mae since September 2008. From the article: “Fannie and Freddie [Mac] own or guarantee about half of all U.S. mortgages, or nearly 31 million home loans worth more than $5 trillion. They buy home loans from lenders, package them into bonds with a guarantee against default and sell them to investors.”

The LA Times reported last week that June experienced a 2.6% drop in pending home sales. From their story: “The National Assn. of Realtors’ pending home-sales index, a forward-looking indicator based on contracts signed for previously owned homes, fell to a level of 75.7 in June from an upwardly revised 77.7 level in May, the group said [August 3]. The index stood at 93.0 in June 2009.”

Looking for what Elle Décor magazine referred to as “The Best Bachelor Pad in LA”? If so, and you have a million to spare, you’re in luck as the aforementioned loft is up for grabs for a price of $1.05 million. As described on The Huffington Post: “The loft is 1,546 square feet and has two bedrooms and two bathrooms. One of its most striking features is the pure white floors and white tiled walls to take advantage of the natural light (perhaps to blinding proportions!). We're also loving other bachelor pad touches like the generous bar area, sleek home theater system, and the cheeky framed art above the bed.”

Looking for your ideal home, find it now at HouseHunt.com

Find out the price of your home right now at moveUp.com

Posted by

 

 

Comments (0)