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The National Association of Realtors recently reported that existing home sales in August were up 7.6% from the previous month. The NAR reported a seasonally adjusted rate of 4.13 million units in August, compared to the upwardly revised figure of 3.84 million units in July. However, last month’s figures were off by 19%, compared to … Continue reading Affordable Financial Services Weekly Finance Review Reuters reported today that Fannie Mae’s gross mortgage portfolio grew 6.3% in June over the previous month. Last month, the government-owned lender’s portfolio grew by $4.1 billion to $817.8 billion, which has gone up 12.1% since the beginning of the year. The portfolio growth could be attributed to a drop in May’s mortgage delinquency rate. … Continue reading Affordable Financial Services Weekly Finance Review On June 30, the U.S. Senate passed a bill that would extend the deadline for people looking to receive the federal homebuyers’ tax credit from June 30 to September 30 to give lenders more time to complete the paperwork. The bill, if it is signed by President Barack Obama, will help 180,000 homebuyers who otherwise … Continue reading Tax Credit Extensions Helps Homebuyers Seal The Deal The Washington Post reported today that 30-year fixed-rate mortgages fell to 4.69% this week, down from 4.75% last week. According to Freddie Mac, this is the lowest rate since the government-owned lender tracked such data in 1971. This news should encourage more people to buy a home, but, in reality, the opposite is happening. Citing the … Continue reading Can Record-Low Mortgage Rates Propel Home Sales? Treasury prices rose after lower-than-expected existing home sales, MarketWatch reported today. According to MarketWatch, yields on 10-year notes, which move inversely to prices, fell 3 basis points to 3.22%. These findings come after today’s report from the National Association of Realtors showed existing-home sales for May unexpectedly fell 2.2% to an annual rate of 5.66 … Continue reading Treasurys React to Existing Home Sales Data Bloomberg News reported today that 23% of mortgage holders owe more than what their home are worth in the first quarter of 2010. According to Zillow, a property data provider based in Seattle, more than one in 1,000 homes were repossessed by lenders in March — the highest rate since Zillow recorded such data in … Continue reading More Than 20% of Homeowners Say They’re Underwater The National Association of Realtors reported that existing home sales rose 6.8% in March to 5.35 million units — up from 5.01 million in February. Compared to March 2009, when 4.61 million units were sold, last month’s figure was 16.1% higher. This increase could be attributed to the rush of people still trying to take advantage … Continue reading Existing Home Sales On The Rise The National Association of Realtors reported on April 5 that the Pending Home Sales Index — a leading indicator of the housing sector based on pending sales of existing homes — rose 8.2% to 97.6. That’s up from January’s figure of 90.2, and up 17.3% from the figure of 83.2 from February 2009. The Pending Home … Continue reading Pending Home Sales Rise in February In a report released by the Mortgage Bankers Association (MBA), mortgage applications in the U.S. declined over the last week, even as the National Association of Realtors reported strong sales of existing homes during November, in a report released yesterday. The MBA’s survey, which covers about 50% of all U.S. retail residential mortgage applications, found that … Continue reading Mortgage Applications Declined Over Last Week Even As Housing Market Showed Improvement During November The National Association of Realtors reported today that existing home sales for November increased by 7.4 percent to a 6.54 million annual rate from a revised rate of 6.09 million the previous month. This beat expectations of a 2.5 percent increase by a large margin. These numbers are 44 percent higher than last year and … Continue reading Mortgage Rates Rise After Strong Home Sales Report |
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