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
There’s a three-year inventory of homes in foreclosure for sale, and that’s devastating home prices.
Las Vegas has so many foreclosures that 53 percent of all the homes sold in Nevada are in some stage of homes in foreclosure, according to a report from RealtyTrac, the online marketer of foreclosed properties.
The volume of home mortgage applications for refinancing and purchases rose slightly higher for the week as mortgage rates took an abrupt jump. The rate on a fully executed 30-year fixed rate loan shot up 0.09 for the week, the Mortgage Bankers Association reports.
As mortgage interest rates swing nearby record lows, more property holders are doing away with their 30-year loans in favor of shorter alternatives, reports the L.A. Times. And when you can get away with a seven-year fixed-rate mortgage for only 3 percent, why not? That is, provided you have the hard cash to take benefit of this occasional chance.
The mortgage delinquency picture is getting brighter, according to an industry report released Thursday, with falling delinquency rates indicating the housing crisis may be at the beginning of its end.
A quarterly release from the Mortgage Bankers Association revealed that mortgage payment problems eased during the first three months of 2011 for every category of default.
Even if foreclosure activity dropped by 9 percent in April, scores of individuals and families in America are still being forced out of homes they can’t afford. If you’re one of these unlucky individuals, you’ll likely need to find a rental after your foreclosure. And that means finding a landlord who won’t put too much weight on the fact that your former home was foreclosed.
Despite new home builder sentiment in the industry being remarkably low, new home construction is in the early stages of recovery. The latest National Association of Home Builders confidence index was 16 in May. A reading under 50 indicates poor sentiment.