October 04, 2013 By mortgage
October 03, 2013 By mortgage
October 02, 2013 By mortgage
October 01, 2013 By mortgage
September 30, 2013 By mortgage
How much residents of each state owe on their mortgages is an interesting statistic. For the most part, residents of the states with the highest average mortgage debt are not in trouble. While the average home price in these states dropped in value during the recession, the foreclosure rates in these states are among the lowest in the country. The reason: Residents of these states can generally afford to lose and owe more money than their counterparts in other states.
The last thing most landlords and tenants want to face is an eviction. For landlords, it’s messy, time-consuming and can be costly. For tenants, eviction can hurt their chances of renting another home, and could even leave them homeless. There are ways to prevent a landlord-tenant relationship from ending in eviction, including proper tenant screening and conducting thorough tenant credit checks.
Foreclosures have increased 14% between the second and third quarter of 2011, following five straight quarters where the number of foreclosures has gone down. This increase could dampen the recovery of the American housing market and harm economic recovery for cities where foreclosures rose significantly. Based on data recently released by RealtyTrac, 24/7 Wall St. has identified the 10 metropolitan regions where foreclosures increased by more than 30%.
Mortgage rates sagged this week as ongoing concerns about the European debt crisis had investors fleeing to the relative safety of mortgage-backed securities that fund most U.S. home loans.
Rates on 30-year fixed-rate mortgages averaged 4 percent with an average 0.7 point for the week ending Nov. 3, down from 4.1 percent last week, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey.
Pushed by lower mortgage rates, home purchase applications jumped as consumers came out in greater numbers to take advantage of near record low mortgage rates. Seasonally adjusted purchases rose 1.8% from a week ago, according to the Mortgage Bankers Association.
The refinance index, however, showed a slight two-tenths of a percent decline for the week. The four week moving average on the seasonally adjusted index is 2.5% lower led by a slowdown in refinancing.
The whirlwind of technological innovation and change increasingly complicates spending decisions for real estate businesses of any size. With so many emerging and competing technologies, it’s a constant challenge to decide which may offer the greatest return on investment, which ones will have staying power, and which untested technologies are worth a try. There are many opportunities to spend money on technologies that are not the right fit for the business, and technology can become a black hole for a company’s budget, whether it is developing the technology in-house, or contracting out for custom or off-the-shelf tools and services.
More than 2.5 million people were turned down for mortgages in 2010, according to the Federal Financial Institutions Examination Council. That’s about 23 percent of all those who are seeking a loan to buy a house.
Compared to just a few years ago, the number is quite low — but it’s sure not because lenders are making it easier. It’s because fewer Americans feel ready to buy a home.