Rates on New Home Loans Join Downward Trend

On Christmas Eve, the Federal Housing Finance Agency (FHFA) reported a 10 basis point decline in mortgage interest rates for the month of November.  Data from FHFA’s Monthly Interest Rate Survey(MIRS) cover conventional single-family mortgages and distinguish whether the loans are for the purchase of new or existing homes.  In October, rates on existing home loans declined while…

Significance & Practicality of Real Estate Indicators

Understanding the global real estate market is now more important than ever if you plan to make wise decisions. Local events such as the aggressive monetary policy easing in the U.S. have led to low interest rate loans. This in turn has led to the reinvigoration of global property markets. The economic activity on a…

Prices Continue to Roll at Double-Digit Rates

Existing-home sales declined in June but have stayed well above year-ago levels for the past two years, while the median price shows seven straight months of double-digit year-over-year increases, according to the National Association of REALTORS®. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, dipped 1.2 percent to…

Q: When Is the Best Time to Refinance?

A: Many people flock to refinance while mortgage interest rates are low, particularly when rates are about two percentage points below their existing home loans. Other factors, like when to finance, will depend on how long you plan to hold on to your home and whether you have to pay considerable fees to refinance. It…

Home Sales Soar, Consumer Confidence Returns – Multiple Offers and Demand for Advice Powers REALTORS’ Value

The more than 100 major real estate brokers who attended RISMedia’s Mid-Year Power Broker Forum earlier this month virtually all reported first quarter gains in transactions and dollar volume from 2012. Consumer confidence combined with near historic low mortgage interest rates is fueling the residential real estate industry’s resurgence, and industry leaders are reporting that…