Mortgage Rates Hit 6-Week Low
Freddie Mac reports that the average interest for 30-year fixed mortgages was 5 percent this week, down from last week’s 5.06 percent.
Meanwhile, 15-year fixed loans averaged 4.36 percent versus 4.39 percent over that same time span. Rates on five-year, adjustable-rate mortgages and on one-year ARMs also were [...]
February marked the fourth consecutive month sales of new homes declined. Sales declined 2.2 percent in February compared to the previous month to a seasonally adjusted annual sales pace of 308,000.
This marks a record as the slowest pace since the government began tracking the statistic in 1963, according to the U.S. Commerce [...]
Analysts Say Rates Should Remain Low
Projections about where credit rates will go in the next year vary widely, but most mortgage analysts think the effect of the Federal Reserve’s move away from the market won’t be dramatic.
Analysts at Credit Suisse and FTN Financial Capital Markets predict that mortgage rates will stay between 5 percent and [...]
Northeast: rose 2.3 percent to 76.1 in December and is 14.9 percent higher than December 2008.
December existing home sales dropped to the lowest level in more than 40 years plunging almost 17% from the previous month. The National Association of Realtors says sales dropped to a total of 5.45 million in December, down from 6.54 million in November.
Experts claim that this is due in part by an extension approved by [...]
Fueled by the 4.4% increased demand in home purchases as well as the drop in interest rates, mortgage applications surged in the first half of January.
Home refinancing was still the major driving factor posting a 10.7% as increase and representing over 70% of all the mortgage business.
Homeowners scrambled to take advantage of the 30 year [...]
Hit by record cold temperatures housing starts posted lower than expected numbers in December.
According to the Commerce Department said housing starts fell by 4 percent to a seasonally adjusted annual rate of 557,000 units. That’s 3000 units lower than the 580,000 units expected by analysts.
The number of permits authorized but not yet started rose 8.4 [...]
Washington, January 5, 2010 - Pending home sales pulled back in November marking the first time in nine months that the index failed to post gains.
Experts had anticipated a correction to 111.8 however the index declined below the expected number to pull down 16% from the from dOctober’s revised reading of 114.3.
The Northeast and Midwest [...]
In 2009 US loan issuance dropped by 28 percent to $547 billion, from $764 billion in 2008, according to data from Reuters Loan Pricing.
Here is the breakdown:
Investment-grade loans down 28 percent to$229 billion, from$319 billion.
Lleveraged loan issuance down 19 percent slid to $239 billion,from $294 billion in 2008.
Source and Story here
S&P stated that the annual rate of decline improved IN ALL METROPOLITAN AREAS
