There are 3 reasons todays buyers are moving to purchasing a home. 1. Real Estate ownership is considered a great long term investment for their future 2. They are tired of throwing away money on rent 3. It is the right time to buy.
About 33% of all home purchases last year have been made by single buyers according to the, National Association of REALTORS® and of those 75% of those are between the ages of 25 and 50. Single Females desire Proximity to Family and Safety, … (2 comments)
interest rates: Market News for Newport Coast
- 07/27/12 08:03 AM
Market News for Newport Coast According to CNN Money, Forbes, Goldman Sachs, Bloomberg and many other economic sources the market has started in an upward trend. Home prices have increase in difference areas of Orange County and Newport Coast. Homes are rising in price on an average of 2%. Some areas of OC have been getting multiple offers on the lower priced homes. Buyers at the entry level are having a difficult time securing a home because they are trying to take advantage of these never before seen LOW interest rates and low downs. Selling agents are looking at low … (0 comments)
interest rates: Renters Spending 5% More Than Home Owners
- 10/26/11 06:58 AM
Daily Real Estate News | Wednesday, October 26, 2011 <!-- /.section-date-author --> <!--<pre><?/*php print_r($node);*/?></pre>--> <!--paging_filter--> Rising rents are forcing renters to outspend home owners on housing costs, according to a new study. Since 2005, home owners’ housing expenses have climbed from 31.9 percent of their household budget to 33.2 percent. On the other hand, in that same time period, renters’ expenses have jumped from 35.6 percent to 38.4 percent, according to the October CoreLogic U.S. Housing and Mortgage Trends. In the last 26 years, home owners have increased the amount they spend on household expenses by 12 percent while renters … (0 comments)
interest rates: Housing more affordable than anytime in the last 20 years
- 08/19/11 11:04 AM
Housing Affordability at Highest in 20 Years Daily Real Estate News | Friday, August 19, 2011 Housing affordability continued to be near record highs in the second quarter, hovering near its highest level in the 20-plus years it has been recorded, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index. About 72 percent of all new and existing-homes sold in the second quarter of the year were affordable to families earning the national median income of $64,200, according to the index. The record high remains 74.6 percent, which was reached last quarter. "At a time when home … (0 comments)
interest rates: ARM's should you or shouldn"t you?
- 06/05/11 03:30 AM
Part of the reason we are in the mess we are in is because people got ARM's and when the rates went up they could afford the payments. Now this article comes from Wall Street Journal:
One of the signature loans of the housing boom—the adjustable-rate mortgage—is looking more attractive than it has in years. For some buyers, it may be an even better deal than a fixed-rate mortgage. ARMs typically offer buyers a lower rate for a set period of years, after which rates rise or drop each year, depending on prevailing interest rates. The loans lost favor during … (1 comments)
interest rates: low interest rates Good for some Bad for others
- 03/04/11 07:17 AM
Daily Real Estate News | March 4, 2011 | Mortgage Rates Drop Again This Week For the third straight week, long-term mortgage rates inched down, according to Freddie Mac's weekly mortgage survey. The 30-year fixed rate mortgage averaged 4.87 percent for the week, down from last week's 4.95 percent. The rate was 4.97 percent at this time last year. The 15-year mortgage rate also dipped for the week, averaging 4.15 percent, down from last week's 4.22 percent. The 5-year adjustable-rate mortgage averaged 3.72 percent, which is a drop from last week's 3.8 percent average."Mortgage rates saw an overall improvement this week," says Frank Nothaft, … (0 comments)
interest rates: We need some good news
- 03/01/11 08:19 AM
Daily Real Estate News | March 1, 2011 | More Americans Confident About Home Ownership Americans are more confident about the stability of home prices than they were at the beginning of 2010, according to Fannie Mae's latest national housing survey, conducted between October 2010 and December 2010.. And when it comes to home ownership, younger Americans are particularly optimistic, the survey finds. Nearly 80 percent of all respondents, including home owners and renters, surveyed said they thought housing prices would hold steady or increase over the next 12 months--which is up from 73 percent in January 2010. In fact, survey respondents expressed more … (0 comments)
interest rates: Why are you buyers still waiting to buy?
- 02/16/11 09:13 AM
There is a lot of reasons to buy, Low prices, Low interest rates, lots of choices. So why are you buyers not buying. Some say it's because all the media reports that say the market is still in the TANK. But this is the most affordable level in decades. Lots of people are not buying because they can nolonger consider this a good investment because they can not count on the home increasing in price faster than inflation. They dont look at it great idea of owning your home and for the same price as a rental you are master of … (1 comments)
interest rates: Officials Search for Fannie-Freddie Road Map
- 12/29/10 02:51 PM
The January deadline is approaching for the Treasury Department to make recommendations to Congress on overhauling the housing finance system, but Obama administration officials remain divided on whether to explicitly guarantee securities backed by Fannie Mae and Freddie Mac. While investors and the housing industry believe an explicit guarantee is necessary to keep the market for long-term fixed-rate mortgages healthy, others worry about exposing the government to a substantial amount of risk. Edward DeMarco, Fannie and Freddie's acting regulator, says the government would want control over who gets loans and at what price in exchange for such a guarantee. The administration's … (1 comments)
interest rates: Rise in Yields Pushes Up Rates
- 12/17/10 04:51 AM
According to the Wall Street Journal, a sudden and unexpectedly quick bounce in Treasury yields has jolted the financial markets - including mortgage rates, which have risen rapidly in response. Freddie Mac puts 30-year home loan interest at an average of 4.83 percent for the week ended Dec. 16, up from a record bottom of 4.17 percent a month ago. Although the rate is still favorable by historical norms, any jump in borrowing costs is certain to pinch housing demand, prevent refinancing, and motivate sellers to reduce asking prices. I think this is a temporary affect to the housing market because interest … (0 comments)
interest rates: Low interest rates Present a problem?
- 09/01/10 10:26 AM
You would think that this is a good thing but now you are presented with the delema; do I pay my regular payment for 30 years, or do I make 1 or 2 extra payments a year and get it paid off early? Seems to be a pretty easy answer. Would you like to own your home free and clear? and not be pressured with a 15 year fixed forced higher payment. Thats exactly what you have. You can make an extra payment or two when you get a tax refund, or a bonus and want to put it into the … (0 comments)
interest rates: The Lure of Low Mortgage Rates
- 07/15/10 10:31 AM
by Linda Stern Four straight weeks of record-low mortgage interest rates has spurred another refi boom. That's understandable: The idea of locking in around 4.5 percent for 30 years is really tempting. But not everyone who can refinance should, and not everyone who should can. "The truth of the matter is, the pool of potential refinancers is finite in this kind of market environment," says Keith Gumbinger of HSH Associates, a mortgage research firm. "Market conditions haven't gotten any easier, and rates are not really that much lower than they have been a number of times over the last six or … (3 comments)
interest rates: Interest Rate Future for Us Purchase and Refi
- 06/10/10 06:04 AM
What It Takes to Get a Mortgage by Pat Mertz EssweinThursday, June 10, 2010provided by Rates are still low, but you'll have to jump through a few hoops to qualify. Is This a Good Time to Get a Mortgage? Absolutely. In early June, the national average interest rate for a 30-year, fixed-rate conforming loan (under $417,000) was 4.9%, according to HSH Associates, a mortgage-tracking firm. The initial rate for a 5/1 adjustable-rate mortgage (featuring a fixed rate for five years, followed by annual adjustments) was 4.2%. "These are the best rates we'll see for a decade," says Guy Cecala, publisher of … (0 comments)
interest rates: The glass is half full or half empty
- 06/23/09 08:41 AM
Its all in how you look at the same thing The media gives us all these bits and pieces of information and we can chose to read gloom and doom into it or raise our glasses and toast. Lets look at the unemployment, lots of people are out of work about 10% is what I heard so you can look at that as being bad news or think about the FACT that 90% of all the people in the USA are working and getting paychecks. For those 90% they have lots to be thankful for such as Lower rents if they … (0 comments)
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