November 2012

Found 21 blog entries for November 2012.

inman.com- After hitting record lows last week, mortgage rates have stayed tanked amid growing concerns that lawmakers won't reach a compromise to avoid a "fiscal cliff" of automatic tax increases and spending cuts scheduled to take place next year, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.

Rates on 30-year fixed-rate mortgages averaged 3.32 percent with an average 0.8 point for the week ending Nov. 29, up from 3.31 percent last week but down from 4.00 percent a year ago. Last week's rate was a new record in Freddie Mac records dating to 1971.

To read more on this article, click the link below:

618 Views, 0 Comments

reuters.com - The National Association of Realtors said on Thursday its Pending Home Sales Index, based on contracts signed in October, gained 5.2 percent to 104.8.

Economists polled by Reuters had expected signed contracts, which usually become sales after a month or two, to rise 0.8 percent last month.

To read more on this article, click the link below:

648 Views, 0 Comments

money.cnn.com - Washington should stay away from touching the mortgage interest tax deduction, warns the U.S. housing industry.

Lately, housing is on the mend and one of the few bright spots in a lumbering economic recovery. Taking away a key tax break could throw a wrench into home buying plans and hurt a long-sputtering recovery.

Lawmakers in both parties are on the lookout for tax revenue as a way to avert the fiscal cliff.

To read more on this article, click the link below:

689 Views, 0 Comments


usatoday.com - Though housing inventory is down across the country, high-end homes are seeing a resurgence in many markets.

Part of the reason: Owners have decided to accept less than they originally wanted for their properties, Vice President Daren Blomquist of RealtyTrac said earlier this year.

And mortgage rates have been favorable: Last week the average rate on a 30-year loan dipped to the lowest since records were kept starting in 1971; jumbo loan rates also are following the trend.

To read more on this article, click the link below:

683 Views, 0 Comments

realtytimes.com -The dynamic and ever-changing housing market has experienced a shift in demographic over the last few years. First, as the housing market felt the shock of the bubble burst all-cash buyers entered the scene and first-time buyers held back, waiting out the market hitting bottom.

Next, first-time buyers rushes to take advantage of the home buyer tax credit in April 2010.

To read more on this article, click the link below:

654 Views, 0 Comments


dsnews.com - Given improvements seen in housing, Fannie Mae revised its housing forecast higher for 2012 and 2013 in its November economic outlook report.

According to the GSE, the fundamentals are set in place for a “solid” housing recovery, such as low interest rates, rising prices, and a labor market that’s healing.

Considering these developments in housing, the GSE’s Economic & Strategic Research Group anticipates single-family housing starts will jump 25 percent this year, then rise by another 22 percent in 2013.

To read more on this article, click on the link below:

637 Views, 0 Comments


businessweek.com - New-home construction unexpectedly climbed to a four-year high in October, more evidence of a revival in the industry that’s helping propel the U.S. economy.

Housing starts rose 3.6 percent to a 894,000 annual rate, the fastest since July 2008 and exceeding all estimates in a Bloomberg survey, Commerce Department figures showed today in Washington. The median forecast of 82 economists called for an 840,000 pace. Permits for the construction of single-family homes also advanced to the highest in four years.

To read more on this article, click the link below:

556 Views, 0 Comments


money.cnn.com - The pace of sales for previously owned homes rose in October, despite the devastation of Superstorm Sandy, in the latest sign of improvement for the long-battered housing market.

Existing home sales rose to an annual rate of 4.79 million, seasonally adjusted, the National Association of Realtors reported on Monday. That's up 2.1% from September, when the revised annual rate of existing home sales was 4.69 million. And it's an increase of 11% year-over-year, when the annual rate was 4.32 million.

To read more on this article, click the link below:

662 Views, 0 Comments

bloomberg.com - Sales of previously owned U.S. homes probably held in October near a two-year high, indicating the recovery in residential real estate is being sustained by cheap borrowing costs, economists said a report may show today.

Purchases held at a 4.75 million annual rate last month, according to the median forecast of 64 economists surveyed by Bloomberg. In August, demand reached a 4.83 million rate, the most since May 2010. Homebuilder confidence probably held at a six-year high in November, another report may show.

To read more on this article, click the link below:

620 Views, 0 Comments

 money.cnn.com - Mortgage rates dropped again this week, sending both 15-year and 30-year fixed-rate loans to record lows.

According to mortgage giant Freddie Mac, the average rate on the 30-year fell to 3.34%, 0.06 percentage point lower than last week. The 15 year fell 0.04 percentage point to 2.65%

To read more on this article, click the link below:

 

709 Views, 0 Comments