Category Archives: First-Time Homebuyer
← Older postsMortgage Rates Hit 4.15 Percent, Lowest Mark in Five Decades
August 18, 2011Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS), showing mortgage rates, fixed and adjustable, reaching all-time record lows providing further incentive for those homeowners looking to refinance. The 30-year fixed-rate mortgage (FRM) averaged 4.15 percent with an … Continue reading
NAHREP Report: Latinos, First-Time Homebuyers Are the Key to the Housing Recovery
June 21, 2011A report by the National Association of Hispanic Real Estate Professionals finds that the size and age of the Hispanic population, the fact that most are married with kids and their perception of homeownership as a symbol of success mean … Continue reading
Mortgage Rates Decline
April 29, 2011Borrowing costs on mortgages dipped in the week ended April 28, reports Freddie Mac. The firm said that interest on 30-year fixed loans settled at 4.78 percent, down from 4.8 percent a week earlier and 5.06 percent a year ago. … Continue reading
Existing-home sales up 3.7% in March
April 20, 2011Existing-home sales rose 3.7% between February and March, but still remain below year-ago levels as consumers struggle to obtain mortgage financing, the National Association of Realtors said Wednesday. However, the homebuyers joining the market are enjoying record-low mortgage rates. NAR’s … Continue reading
Discounts Expected in Spring Housing Market
March 22, 2011The National Association of Realtors reports a 9.6 percent drop in home resales in February and a decline in the median price to a nine-year low of $156,100 – which it attributes in part to poor weather, a jump in … Continue reading
U.S. Home Sales Accelerate as Prices Decline Amid Rebound
March 8, 2011The National Association of Realtors reports a drop in the resale home price to a median of $158,800 in January — the third decrease in three years and a nine-year low. Falling prices helped boost sales 22 percent from October; … Continue reading
Mortgage Lending Outlook Warming Up, As Rates Top 5 Percent
February 11, 2011With an improved mortgage lending landscape, more buyers and refinancers with good credit are tapping into still historically low rates and borrowing for bigger purchases. Banks should relax underwriting standards this year as they look to put cash into loans … Continue reading
Home Affordability Returns to Pre-Bubble Levels
February 9, 2011Data from Moody’s Analytics shows that U.S. home affordability returned to pre-bubble levels in a growing number of markets over the last year as price depreciation set the stage for a housing rebound. Of the 74 markets tracked, affordability at … Continue reading
New-Home Recovery Seen as Post-Super Bowl Selling Season Starts
February 8, 2011New home sales may bounce back this spring, and the rebound could last through at least 2012, predict market watchers. The Mortgage Bankers Association forecasts a 10 percent jump in volume; while Fannie Mae and the National Association of Home … Continue reading
Mortgage Applications Rose Last Week
January 19, 2011As interest rates declined to their lowest level in a month during the week ended January 14, the Mortgage Bankers Association reports, home-loan application activity rose 5 percent. Fixed 30-year mortgage rates averaged 4.77 percent for the week, down a … Continue reading
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Greg Frost's Corner
I recently attended the annual Mortgage Bankers Association lobbying day in D.C. with 5 of my industry colleagues from New Mexico. It was a very insightful experience.
It is apparent to me that there is a prevailing feeling in both the House and Senate, along with the Executive Branch, that our government should reduce [...]
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