Six Week Streak for Mortgage Rates

Six Week Streak for Mortgage Rates

For the sixth consecutive week, fixed-mortgage rates climbed higher. According to the latest results of Freddie Mac’s Primary Mortgage Market Survey, the 30-year, fixed-rate mortgage has increased over half a percentage point since a steady uptick began last month. This news follows a positive employment report for May with the economy adding 175,000 new jobs.

Despite the streak, mortgage rates are coming off their all-time record low and buying is 41 percent cheaper than renting nationally.
More info

For a current market analysis of your home or neighborhood, visit http://www.clarkransom.com and click on “Market Insider”.

Advertisements

Nearly 1 Million Houses Float Back into Positive Equity

Nearly 1 million houses float back into positive equity
Source: HousingWire

Approximately 850,000 more residential properties returned to a state of positive equity during the first quarter of 2013, according to the CoreLogic first quarter home equity report.
Read the full story

For more information and a detailed market analysis of your home or neighborhood, visit http://www.clarkransom.com.

confidence in home price gains reaches record levels

Confidence in home price gains reaches record levels
Source: Default Servicing News

According to a Fannie Mae National Housing Survey, Americans expressed record confidence in price gains, with 55 percent – a survey high – saying they believe prices will go up in the next year.

Read the full story

Get detailed Market information for your home or neighborhood at http://www.clarkransom.com

housing inventory improves

Housing Inventory Improves

Housing inventory might be down in June, but in comparison to the start of 2013, there has been an improvement in year-over-year inventory levels. In fact, the inventory of for-sale homes has improved 5.3 percentage points year-to-date because a 17.5 percent shortfall was seen in January compared with a 12.2 percent drop in June. The spring selling season has eased some of the inventory shortages. The report shows that the improved annual inventory level is evident in 70 metros. While inventory is expected to remain below year-ago levels for the foreseeable future, Zillow’s chief economist posits that “a corner has been turned.”
More info

For specific and current market conditions and valuation of your home, visit http://www.clarkransom.com and click on “Market Insider”.

FHA could stop charging extra interest on mortgage payoffs

FHA could stop charging extra interest on mortgage payoffs
Source: The Wall Street Journal

Consumer protection regulators press the FHA to revise a policy of collecting a full month’s worth of interest even when borrowers pay off their loans earlier in the month.

Read the full story

Get detailed Market information for your home or neighborhood at http://www.clarkransom.com

equity investment program can help you buy that house

Equity investment program can help you buy that house
Source: Los Angeles Times

The REX HomeBuyer program provides up to half of the down payment and will share in the profit or loss on the home when you sell.

Read the full story

Get detailed Market information for your home or neighborhood at http://www.clarkransom.com

sellers calling the shots on home deals

Sellers calling the shots on home deals
Source: CNNMoney

A survey of more than 2,000 Americans found that 33 percent of buyers who were searching for a home have been on the hunt for more than a year and many were willing to make compromises on where they live or the type of home they would buy in order to close the deal, Century 21 Real Estate recently reported.

Read the full story

Get detailed Market information for your home or neighborhood at http://www.clarkransom.com