interest rates: Refinance Hudson WI - American's Increasingly Optimistic
- 02/13/12 05:37 AM
According to Gallup, Americans’ economic confidence and sense of well being both rose in January. Gallup’s Life Evaluation Index, which asks Americans to rate their current and future lives on a scale from 0 to 10, climbed to its highest level in 11 months, increasing to 50.1 from 48.4 in December. The number of respondents classified as thriving as opposed to struggling or suffering increased to 53.4 percent from 51.9 percent the month before. Americans’ improving sense of well being is tied to gains in economic confidence. According to Gallup’s Economic Confidence Index, which has been rising since August of last … (0 comments)
interest rates: Housing Affordability Index Reaches Record High
- 02/10/12 03:10 AM
The National Association of Realtors Housing Affordability Index reached a record high in 2011. The index, which began in 1970, measures the relationship between median home price, median family income, and average mortgage interest rate. The index defines 100 as the point where a median-income household has exactly enough income to qualify to purchase a median-priced home. In 2011, the index reached 184.5. Lawrence Yun, NAR’s chief economist, said the Midwest and South have the greatest concentration of areas where home buyers have the strongest purchasing power. According to Yun, the West Coast and Northeastern Seaboard have higher-priced homes which accounts for … (1 comments)
interest rates: Refinance Hudson, WI - Is help on the way for those that are underwater on their mortgage?
- 02/09/12 08:41 AM
Several Federal and State agencies announced today a 25 billion dollar foreclosure settlement with many of the largest banking institutions in the U.S.. While many of the details could possibly take years to iron out, the attached article provides a brief synopsis of what is known currently: http://online.wsj.com/article/SB10001424052970204642604577213032296123026.html?mod=wsj_share_tweet http://www.theanswerisclear.com/MLO/rmagee/ Thanks, … (0 comments)
interest rates: Buy a house in Hudson, WI - Foreclosures Down Nearly 25 Percent In 2011
- 02/09/12 05:20 AM
The number of foreclosures completed in 2011 fell 24 percent to 830,000 from 1.1 million in 2010. Data released by CoreLogic shows that, not only were foreclosures down year-over-year, but they also dropped 8.4 percent in December. Mark Fleming, CoreLogic’s chief economist, said the inventory of foreclosed properties has begun to shrink and the pace at which properties are entering foreclosure is slowing. At the end of 2011, 3.4 percent of all homes were in the foreclosure inventory. And though the rate at which foreclosures are completed has been slowed, in part, due to judicial and regulatory constraints, a declining number … (0 comments)
interest rates: Refinance Hudson, WI - Mortgage Demand Spikes as Rates Hit New Lows
- 02/08/12 04:26 AM
According to the Mortgage Bankers Association’s Weekly Applications Survey, demand for mortgage loans surged last week. The Market Composite Index, which measures total loan application volume, was up 7.5 percent over the previous week due to a 9.4 percent spike in the Refinance Index. The Purchase Index gained 0.1 percent from the previous week. Refinance activity represented 80.5 percent of all loan applications largely because of another dip in average mortgage rates. The average contract interest rate on 30-year fixed-rate mortgages fell to 4.05 percent from 4.09 percent the previous week. The drop brought rates to their lowest level in the … (0 comments)
interest rates: Hudson, WI - Improving Markets Index Adds 29 Metros In February
- 02/07/12 04:38 AM
The National Association of Home Builders/First American Improving Markets Index rose by 29 metropolitan areas in February bringing the total number of entries to 98. There are now 36 states represented by at least one metro market. The index identifies cities that have shown improvement in housing permits, employment, and prices for at least six consecutive months. Bob Nielsen, NAHB’s chairman, said the number of improving housing markets has risen for six consecutive months indicating that improving conditions are slowly but surely spreading from one housing market to the next. New entries to the list include Miami, Boston, Detroit, Kansas City, … (0 comments)
interest rates: Refinancing Homeowners Reduced Debt In Fourth Quarter
- 02/06/12 08:01 AM
Freddie Mac recently released their fourth-quarter refinance analysis and it shows that 85 percent of homeowners who refinanced their mortgages during the fourth quarter of 2011 maintained or reduced their principal balance by paying-in additional money at the closing table. Frank Nothaft, Freddie Mac’s vice president and chief economist, said savvy homeowners are taking advantage of some of the lowest fixed-rates in more than 60 years to lock in interest savings. According to Nothaft, the typical borrower who refinanced during the fourth quarter reduced their interest rate by approximately 1.4 percentage points. During the fourth quarter, 37 percent of homeowners who … (0 comments)
According to Gallup, Americans’ economic confidence and sense of well being both rose in January. Gallup’s Life Evaluation Index, which asks Americans to rate their current and future lives on a scale from 0 to 10, climbed to its highest level in 11 months, increasing to 50.1 from 48.4 in December. The number of respondents classified as thriving as opposed to struggling or suffering increased to 53.4 percent from 51.9 percent the month before. Americans’ improving sense of well being is tied to gains in economic confidence. According to Gallup’s Economic Confidence Index, which has been rising since August of last … (0 comments)
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