February 22, 2012

NEW YORK (CNNMoney) -- Home prices fell to their lowest point in more than a decade in January, which helped to lift the pace of home sales, according to a report from an industry trade group.

The National Association of Realtors reported that the median home price in January fell 2% from December to $154,700. That's the lowest price reading since November 2001, before the run-up in home prices that became known as the housing bubble.

See Full Article

Feb 2 2012

The average rate on the 30-year fixed mortgage dropped to the lowest since records have been kept, creating a tempting target for people to refinance their homes.

See Full Article

Feb 1 2012

Mortgages Rates are just slightly better than unchanged on the day. Best-Execution remains at 3.875% for conventional 30yr fixed loans, and the slight improvements seen today have benefited the borrowing costs required to obtain those rates.

See Full Article

Jan 20 2012

The housing market ended the year on a positive note with strong sales in December, but a glut of unsold homes will likely push prices lower through much of this year, forecasters said Friday.

See Full Article

Jan 17 2012

After setting new records on Friday, Mortgage Rates are absolutely flat to start the week.  That means that Best-Execution remains most appropriately at 3.875% although 3.75% continues to be as close as it's ever been to getting equal recognition.  Depending on the scenario in question, lower rates are available and in rare cases, could make sense.

See Full Article

01/12/2012

Average on the 30-year home loan drops to 3.89% from 3.91 %

WASHINGTON — Fixed mortgage rates fell once again to a record low, offering a great opportunity for those who can afford to buy or refinance homes. But few are able to take advantage of the historic rates.

Freddie Mac said Thursday the average rate on the 30-year fixed mortgage fell to 3.89 percent. That's below the previous record of 3.91 percent reached three weeks ago.

Records for mortgage rates date back to the 1950s.

See Full Article

01/02/2012

NEW YORK (CNNMoney) -- Flippers, the real estate investors who buy homes on the cheap and quickly resell them at a profit, just got a reprieve from the Federal Housing Administration.

In an effort to help stabilize housing prices and unload some of the foreclosures that are flooding low-income communities, the mortgage insurer extended a waiver of its anti-flipping regulations through 2012.

See Full Article



01/11/2012

While mortgage modifications are a way for people in hard times to keep their homes, scammers continue to take advantage.

Mortgage modifications allow people to restructure what they pay, through ways such as reducing the interest rate or the payments.

Ryan Law, who works at MU in the Department of Personal Financial Planning, says the safest way for someone to do a mortgage modification is through the mortgage servicer or through a government program called Home Affordable Modification Program (HAMP). 

See Full Article