“helping you accomplish your Real Estate goals.”
Upscale buyers are “going back and doing more work on their homes,” says Paul Boomsma, president of Luxury Portfolio International in Chicago. “These [home owners] don’t necessarily need more square footage, but they are feeling the want to update and increase the finish of their home.” Luxury Portfolio International and home designers helped to identify [...]
What does 2013 have in store for the housing market? With marked gains this year, housing experts expect the housing market to continue to gain momentum in the new year. The Wall Street Journal recently offered up some chief housing issues likely to be important in the New Year. These include: Inventories rise: To meet [...]
Fixed-rate mortgages ended the year by hovering near record-breaking lows and keeping home buyer affordability high, Freddie Mac reports in its weekly mortgage market survey. “The 30-year fixed-rate mortgage averaged 3.66 percent for 2012, the lowest annual average in at least 65 years,” says Frank Nothaft, Freddie Mac’s chief economist. “Rates on 30-year fixed mortgages [...]
If buying a home is on your New Year’s Resolution list for 2013, know this: your biggest challenge will almost certainly be coming up with your down payment and closing costs. Whether you’re trying to scrape by with 3.5 percent for an FHA loan or you’re planning to put down a full 20 percent, saving [...]
The Federal Reserve announced Wednesday that it plans to keep interest rates low as long as the unemployment rate is above 6.5 percent. This was the first time that the Fed has ever identified an exact unemployment rate to be reached before it plans to raise interest rates. To push rates lower, the Fed will [...]
Borrowers seeking a mortgage or for those looking to refinance are increasingly turning to credit unions. These financial institutions are expected to surpass a record-breaking $100 billion in mortgage loan originations this year, The New York Times reports. The growth has mostly been attributed to a surge of refinancers and a growth from consumers’ “disillusionment [...]
Several of the nation’s largest banks announced they will halt foreclosures during the holidays, following a similar move made by mortgage giants Fannie Mae and Freddie Mac last week. The following banks say they will stop foreclosures until after the New Year: Wells Fargo, U.S. Bancorp, PNC Financial Services Group, Bank of America, SunTrust, and [...]
House buyers in a growing number of areas are finding something they haven’t seen in years when house-hunting: Competition. With housing affordability high and mortgage rates low, home buyers are ready to cash in but they’re finding a lot of others are as well. Bidding wars are becoming more common, particularly as the inventory of [...]
| 30 Year Fixed | 3.69% | |
| 15 Year Fixed | 2.87% | |
| 5/1 ARM | 2.41% | |
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