Category Archives: Home Buying
← 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 Applications See Biggest Gain in 3 Months: MBA
June 15, 2011Home loan applications rose to the highest level in three months during the week ended June 10, due to pumped-up refinancing demand as the 30-year fixed mortgage rate fell to 4.51 percent. The Mortgage Bankers Association’s index of loan applications … Continue reading
VA Loan Program Grows, Prospers
June 14, 2011The Mortgage Bankers Association reports a 4.52 percent serious delinquency rate for VA loans at the end of March, versus 5.58 percent for prime mortgages. Experts say the VA program’s success, despite originating loans with no down payments, is rooted … Continue reading
30-Year Mortgage Rate Again Hits 2011 Low
May 27, 2011Fixed mortgage rates have fallen for six straight weeks, with 30- and 15-year loans dipping to their lowest levels since mid-December and late November, respectively. Freddie Mac reports that the 30-year loan averaged 4.60 percent this week, down from 4.61 … Continue reading
Home Sales May Grow Thanks to Affordable Housing
May 20, 2011Housing experts predict home sales will rise between 7 and 10 percent in 2011 from last year, thanks to an improving job market, sustained economic growth and greater housing affordability. Low interest rates also are helping many transition from renting … Continue reading
Cheaper to Buy Than Rent in 78 Percent of Major Cities
April 28, 2011Owning a home is more affordable than renting in 39 of the nation’s 50 most-populated cities, based on the latest quarterly rent vs. buy index from Trulia. Falling home prices and rising rents make buying cheaper in 78 percent of … Continue reading
New-Home Sales Up, But Pace Is Still Lagging
April 26, 2011New-home sales climbed in March after three straight months of declines, reports the Commerce Department. Sales increased 11 percent from February to an annual rate of 300,000 units, but the pace is still far short of the 700,000 units a … 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
Real Estate Bust Hasn't Dimmed Americans' Faith in Real Estate
April 12, 2011A Pew Research Center survey shows that 80 percent of U.S. adults recently polled believe a home is still the best long-term investment despite a prolonged slump in property prices. About 37 percent of respondents “strongly agree” that homeownership is … 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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