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Mortgages

“BREXIT” & U.S. REAL ESTATE: IS BRITAIN’S FOLLY OUR FORTUNE?

Excerpted from an article by Jaymi Naciri for realtytimes.com “Last week, Britain voted to leave the European Union, an unexpected and historic decision that has been scrutinized all over the world – and is causing the kind of political hindsight and regret within Britain that has many asking if the vote can be undone.  Or…

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SHOULD YOU TAKE ACTION BEFORE INTEREST RATES RISE?

Excerpted from an article by PJ Wade for realtytimes.com “If you currently have a mortgage, what should you do BEFORE interest rates significantly increase? The “when” related to interest rate increases has been the subject of debate for awhile, but there is wide-spread agreement that rates will slide up.  Whether that’s slowly or quickly represents…

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AVERAGE MORTGAGE RATES EDGE UP…

SOURCE:  The Associated Press/Asheville Citizen Times 06/26/16 WASHINGTON – ” Long-term US mortgage rates rose this week but remain at levels low enough to boost home sales in the spring buying season.  Mortgage buyer Freddie Mac says the average 30-year, fixed-rate mortgage edged up to 3.56% from a 52-week low of 3.54% last week.  The…

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MORTGAGE RATES FALL FOR 2ND STRAIGHT WEEK…

ASSOCIATED PRESS/June 19, 2016/Asheville Citizen Times: WASHINGTON:  “Long-term US mortgage rates fell this week for a second straight week amid continued global economic concerns.  Mortgage buyer Freddie Mac said Thursday the average 30-year, fixed-rate mortgage dipped to 3.54% from 3.60% last week.  This is well below its level a year ago of 4.00% The average…

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PENDING HOME SALES INDEX HIGHEST SINCE MAY

Source:  Paul Wiseman/Associated Press/Asheville Citizen-Times “CONTRACTS ARE BAROMETER OF FUTURE PURCHASES… More Americans signed contracts to buy homes in March as the spring home buying season got underway.  The National Association of Realtors said Wednesday that its seasonally adjusted pending home sales index rose 1.4% to 110.5, the highest level since May 2015. Pending sales…

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LONG-TERM MORTGAGE RATES LOWEST IN A YEAR~

Source:  Associated Press/Asheville Citizen-Times/Real Estate “WASHINGTON – Average long-term US mortgage rates slid this week to their lowest level since February 2015, luring prospective purchasers during the spring home-buying season.  Mortgage buyer Freddie Mac said Thursday the average rate on a 30-year,fixed-rate mortgage fell to 3.59% from 3.71% last week. The benchmark rate was far…

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AVERAGE US 30-YEAR MORTGAGE RATE STEADY AT 3.71%

Associated Press – March 31, 2016. “WASHINGTON (AP) – Average long-term US mortgage rates were unchanged to slightly higher this week after declining the previous week. Mortgage buyer Freddie Mac said Thursday the average rate on a 30-year, fixed-rate mortgage was steady at 3.71%.  The benchmark rate also remained close to the 3.70% level it…

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30-YEAR MORTGAGE RATE RISES FURTHER..

Associated Press 03/20/2016… “Average long-term US mortgage rates rose this week for the third straight week.  Long-term rates have reversed the upward trend that took hold at the start of the year amid economic anxiety and market turbulence.  However, rates still remain at historically low levels at the start of the spring home buying season. …

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HOME SELLERS HAVE CLOSING COSTS ALSO…

Excerpted from an article by Benny L. Kass for realtytimes.com “…..When a seller signs a listing agreement with a Real Estate Broker, authorizing that person to sell the house, in addition to all the other forms which sellers receive (lender points, title insurance, settlement fees…), the seller should be given an estimated settlement statement.  This…

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THIRD CONSECUTIVE MONTHLY GAIN IN SALES OF NEW HOMES…

Excerpted from an article by Josh Boak/Associated Press. WASHINGTON – “Americans rushed to buy new homes in December at the strongest pace in 10 months, with 2015 marking the strongest year for this segment of the housing market since 2008.  The Commerce Department said Wednesday that new home sales surged 10.8% last month  to a…

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