September 2012

Found 20 blog entries for September 2012.


It’s unknown whether or not the Federal Reserve’s new stimulus will be able to whip the economy back into shape, but one thing’s for sure: It’s sent mortgage rates plummeting.

Freddie Mac’s Primary Mortgage Market Survey  showed new record lows in all categories except the 5-year adjustable-rate mortgage (ARM). The GSE reported that the 30-year fixed average fell to 3.40 percent (0.6 point) for the week ending September 27, down from 3.49 percent in the previous week’s survey.

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NEW YORK (CNNMoney) -- Sales of new homes were little changed in August, but prices rose sharply in a signal of continued improvement in the housing market, according to a government report issued Wednesday.

New homes sold at an annual rate of 373,000, down 1,000 from the July reading from the Census Bureau, which tracks the sales. The number is 28% above year-earlier levels.

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NEW YORK (CNNMoney) -- In another sign of a turnaround in the long-battered real estate market, average home prices rebounded in July to the same level as they were nine years ago.

According to the closely watched S&P/Case-Shiller national home price index, which covers more than 80% of the housing market in the United States, the typical home price in July rose 1.6% compared to the previous month.

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Many sellers feel that the Spring is the best time to place their home on the market as buyer demand increases at that time of year. However, the Fall and Winter have their own advantages. Here are five reasons to to sell now.

1. Only Serious Buyers Are Out  2.There is far less competition  3. The process will be quicker  4. There will never be a better time to move up  5. It's time to move on with your life

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Fannie Mae recently announced expansion of it's Homepath Mortgage product that provides home buyers and investors financing for the purchase of Fannie Mae-owned properties.

The new product will allow eligible individual and LLC borrowers to finance up to 20 properties using the Homepath Mortgage. NAR has long called for expansion of financing opportunities for investors as a way to increase the absorbtion of REO properties.  Fannie Mae will offer flexible lending terms and will not require appraisals of the properties. 

Visit Homepath.com for more information on the program and participating lenders.

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NEW YORK (CNNMoney) -- Mortgage rates fell to record low levels once again last week, as the Federal Reserve's decision to buy billions in home loans for the foreseeable future helped bring lending costs down for home buyers and owners.

Mortgage finance backer Freddie Mac's weekly survey of mortgage rates showed the average 30-year fixed-rate mortgage fell to 3.49% from 3.55% the previous week. That matched the previous record low set in July. The fixed-rate 15-year mortgage reached a new record low of 2.77%, down from 2.85% a week earlier.

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NEW YORK (CNNMoney) -- The U.S. housing industry -- crucial to any jobs recovery -- showed more signs of strength, according to two reports issued Wednesday.

The Census Bureau said housing starts and permits rose substantially in August. Separately, sales of previously occupied homes climbed 7.8% from a year ago, according to the National Association of Realtors.

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U.S. home-builders’ confidence rose to its highest level in more than six years in September, the latest sign of recovery for the long downtrodden housing market.

The National Association of Home Builders said Tuesday that its housing market index rose three points to 40 this month, the fifth consecutive gain. The results were just above expectations. Economists polled by Dow Jones Newswires had forecast a reading of 39

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realtor.org – New survey findings, combined with an analysis of historic credit scores and loan performance, show home sales could be notably higher by returning to reasonably safe and sound lending standards, which also would create new jobs, according to the National Association of Realtors®.

Lawrence Yun, NAR chief economist, said there would be enormous benefits to the U.S. economy if mortgage lending conditions return to normal.  “Sensible lending standards would permit 500,000 to 700,000 additional home sales in the coming year,” he said.  “The economic activity created through these additional home sales would add 250,000 to 350,000 jobs in related trades and services almost immediately, and without a cost impact.”

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inman.com - Rising home values helped 1.3 million homeowners get out from "underwater" in the first half of the year, and another 2 million would get equity if national home prices increase by another 5 percent, data aggregator CoreLogic said today.

CoreLogic estimates that 22.3 percent of all residential properties with a mortgage were worth less than what was owed on their mortgages at the end of June, down from 23.7 percent at the end of March.

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