Author Archive
Mortgage Delinquencies Hit 3-Year Low
Posted by: | CommentsThe rate at which consumers are behind on their mortgage payments by 30 days or more slipped in March to the lowest levels seen in more than three years.
The total value of all mortgage payments that were at least 30 days delinquent slipped to less than $500 billion in March, a level not seen since January 2009, and there were 49.5 million outstanding first mortgages during the month, according to the latest statistics from the credit reporting agency Equifax and Moody’s Analytics. The latter number was a drop of close to 11 percent from the more than 55 million observed in March 2008.
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6 tips for a painless closing
Posted by: | CommentsClosing on a house can be joyful or horrific. Follow this advice for a smooth settlement.
You finally found the house of your dreams. You signed a contract and got approved for a mortgage. You’ve even hired the movers. Now comes the most important part: the closing.
In an ideal Read More→
79 Percent of Refinancing Homeowners Maintain or Reduce Mortgage Debt in First Quarter
Posted by: | CommentsNews Facts
- In the first quarter of 2012, 79 percent of homeowners who refinanced their first-lien home mortgage either maintained about the same loan amount or lowered their principal balance by paying-in additional money at the closing table. Of these borrowers, 58 percent maintained about the same loan amount, and Read More→
Foreclosure Review Is Free, But Few Borrowers Apply
Posted by: | CommentsIt’s been more than six months since government regulators and banks first extended an offer to 4.3 million homeowners facing foreclosure: to review, at no cost, the foreclosure process to check for any possible errors or misrepresentations.
Homeowners stand to collect compensation of as much as $100,000 if errors are found. But thus far, only a tiny percentage of those eligible have signed up. Read More→
Home Sales See Best 1st Quarter in 5 Years, Realtors Report Says
Posted by: | CommentsSupporting the view that the housing market is on a positive trajectory, a new report shows that the number of homes that are in the process of being sold is at its highest in two years. Meanwhile, the number of home sales that closed reached its best first quarter in Read More→
As Rental Market Tightens, 6 Tips To Get the Home You Want
Posted by: | CommentsToday’s rental market continues to grow more competitive, with national vacancy rates for rental housing hitting their lowest point in 10 years in the first quarter of this year, U.S. Census Bureau data says.
“A shift from owners to renters has caused rental vacancies to keep going down even more,” says Jed Kolko, chief economist of listing service Trulia, of the new shape of the market.
The rental vacancy rate dropped from 9.7 percent in first quarter 2011 to 8.8 percent in first quarter 2012, Census Bureau data shows. The drop was accompanied by a decline in the homeownership vacancy rate — which measures the segment of the housing inventory which is vacant and for sale. It fell from 2.6 percent in first quarter of 2011 to 2.2 percent in first quarter 2012. Read More→
CoreLogic Notes Most Foreclosure Activity Down Year-over-Year
Posted by: | CommentsMost measures of foreclosure activity in March remained at February levels but showed significant improvement from one year earlier according to the National Foreclosure Report for the month, released by CoreLogic today. The report tracks completed foreclosures, the foreclosure inventory, delinquencies and a measure CoreLogic calls the distressed clearing ratio.
The number of foreclosures completed in March dropped to 66,000 from 69,000 in February and 85,000 one year earlier. During the first quarter of the year there were 198,000 completed foreclosures compared to 232,000 during the first quarter of 2011. Read More→
Despite High Affordability, Renter Nation Reigns
Posted by: | CommentsMore Americans are renting homes, and fewer are owning them; it’s not as if this is news to anyone who follows the U.S. housing market, but a new report from the Census Bureau today really put an historical exclamation point on the trend.
The share of U.S. household renting reached a fifteen year high, and home ownership reached a 15-year low. Funny how those numbers travel together. Read More→
Mortgage Rates Edge Closer To All-Time Lows
Posted by: | CommentsMortgages Rates are moderately improved to begin the week, taking them slightly lower than than April’s best two days (4/10 and 4/23) and as close as they’ve been to all-time lows in several months. This further solidifies the Conventional 30yr Fixed Best-Execution Rate at 3.875%, which had recently shared the stage with 4.0%.
Keep in mind that “best-execution” as we calculate it, connotes the no-closing-cost rate for the best-qualified borrowers in the most ideal scenario. (read more about Best-Execution calculations). Read More→
April home-maintenance checklist
Posted by: | CommentsFinally, it’s spring. To celebrate, do a few improvements indoors — tweaking your home’s energy efficiency and getting doors to operate smoothly — and then get outdoors to do some work that shows off your home’s exterior. Install a new screen door or repair an old one. Maintain fireplaces and Read More→
