Interest Rates Are Increasing Interest rates have increased almost 3/4 of a point in the last six months and most experts expect rates to continue to increase through the year. Interest rates along with price determine the overall cost of a home. Even with prices softening, if interest rates rise, it may be less expensive to …
Tag Archive: interest rates
Mar 26
2011 Home Sales Prediction
The Third Decline in U.S. home prices in three years is driving a pickup in sales as bargain hunters rush to buy before mortgage rates rise… even as home values may slump further. Foreclosures drive down prices Mounting foreclosures pushed the median price for a U.S. existing home to $158,800 in January, the lowest level since …
Mar 22
Buyer opportunity of a lifetime?
Probably yes. Because of recent government involvement, an opportunity exists today that may never again be available in our lifetimes. Two advantages are available to a home purchaser today that may disappear in the future due to current government changes now under consideration: Historically low interest rates The ability to lock in these rates for thirty …
Mar 21
Monday, Monday…. update
Monday, March 21, 2011 Mortgage rates: 30 yr fixed, 4.79% 15 year 3.99% The Fed announced that it will sell its $142B MBS portfolio it acquired in the financial meltdown from AIG. It intends to sell $10B a month as long as market conditions can handle it. The Fed believes it will make a profit …
Mar 18
Wells Fargo accepting credit scores as low as 500
Wells Fargo says it’s accepting FHA mortgages for borrowers with credit scores as low as 500. The move comes after NAR (National Association of Realtors) and FHA Commissioner David Stevens, among others, late last year criticized the country’s major banks for requiring credit scores as high as 650 in some cases before making loans. At …
Nov 19
72% of US cities boast ‘affordable’ real estate
… But mostly in the Midwest which may be experiencing a revival according to CNN’s Most (and least) affordable cities to buy a home. The good news is that the home prices of 72.1% of all residences sold during the three months ending Sept. 30 would allow people earning the median household income to afford purchasing a home. The ‘watch-out’ …
