Mortgage Interest Rates Reported:30-year fixed-rate mortgage averaged 3.87 percent with an average 0.8 point for the week ending February 2, 2012, down from last week when it averaged 3.98 percent. Last year at

Continue reading... Mortgage Interest Rates Fall Again to Yet Another New Record Low

1. Mortgage interest rates fall to match all time low! This morning, Freddie Mac released the results of it’s Primary...
2. Mortgage Rates Finish 2011 Near Historic Lows Freddie Mac released the results of its Primary Mortgage Market...
3. 30-Year Fixed-Rate Mortgage Matches All-Time Record Low at 3.94 Percent This morning Freddie Mac released its Primary Mortgage Market Survey...

Continue reading... What are the hot spots in the U.S. attracting home buyers?

1. Top 12 cities home buyers are searching online Chicago tops the list of the cities home buyers are...
2. Ten cities that receive the most online home searches Realtor.com, which claims to have more traffic on it’s website...
3. Report shows homebuyers heading to the "burbs" According to a new report from Trulia, its Metro Movers...

Continue reading... Home prices in U.S. fall in November – Back to mid-2003 levels

1. Home Prices Fall In October;   back to mid-2003 levels Dennis Norman This morning, the S&P/Case-Shiller Index report for October...
2. Home prices rise slightly in July; 18 of 20 metros still down from a year ago Dennis Norman This morning, the S&P/Case-Shiller Index report for July...
3. Home prices increase in August; fifth consecutive month of increases Dennis Norman This morning, the S&P/Case-Shiller Index report for August...

Until recently, home ownership was no bargain compared to renting, according to Paul Diggle, a housing economist at Capital Economics.

Recent data from the U.S. Census Bureau and published statistics from Thomson Datastream indicate that rising rents and falling mortgages are tipping the scales towards home ownership. The median monthly mortgage payment has fallen to about

Continue reading... Mortgage Rate Update; Should you Rent or Buy a Home?

1. Mortgage Rate Update; The Benefits of ARM’s Even though over the past few years, ARM’s (adjustable rate...
2. Mortgage Rate Update; FHA good alternative for many home buyers In this tighter credit environment, FHA remains to be...
3. St. Louis Mortgage Rate Update; What income is required for a mortgage? What income is required to qualify for a mortgage?...

Continue reading... New homes sales fall in December and make 2011 worst year on record

1. New home sales drop again in July; 2011 new home sales continue on track to be worst year ever Today, the U.S. Department of Housing and Urban Development and...
2. New home sales drop in June; 2011 new home sales on track to be worst year ever Today, the U.S. Department of Housing and Urban Development and...
3. New home sales tick up in September but still on track to be worst year ever Today, the U.S. Department of Housing and Urban Development and...

RealtyTrac, today released its third-quarter 2011 U.S. Foreclosure Sales Report, which shows that sales of homes that were in some stage of foreclosure or bank owned accounted for 20 percent of all U.S. residential sales in the third quarter of 2011, down from 22 percent of all

Continue reading... One in five home sales is a foreclosure and only two-thirds the cost of a non-foreclosure home

1. Foreclosures account for 28 percent of all home sales in first quarter 2011; Selling at discount of 27 percent RealtyTrac released their foreclosure report this morning for the...
2. Three in Ten Home Sales in 2nd Quarter were Foreclosures This morning, RealtyTrac released their U.S. Foreclosure Sales Report...
3. Foreclosure homes account for 26 percent of all 2010 sales RealtyTrac released their foreclosure report for 2010 showing that...

Continue reading... Ten cities that receive the most online home searches

1. Top 12 cities home buyers are searching online Chicago tops the list of the cities home buyers are...
2. The best places to invest in rental property Las Vegas, Nevada is the best place in America to...
3. Home price index this morning at lowest level since May 2003 Radar Logic is a company that publishes a home price...

Continue reading... Home sales and prices increase in December; Inventory down to near-normal level

1. Home sales increase in October;   Prices fall to 6-month low Today’s existing home sales report from the National Association of...
2. Home sales and prices decline in September Today’s existing home sales report from the National Association of...
3. Existing home sales increase in January; fueled by falling home prices Today’s existing home sales report from the National Association of...

The last couple of months I have said that, “unless something changes dramatically, 2011 will hit a new record low of new home starts. Unfortunately, nothing dramatic happened, and 2011 has ended with only 428,600 new home starts setting a new record low and significantly below the prior all-time low of 445,200 starts in 2009.

The

Continue reading... New Home Starts in 2011 Set All-Time Record Low

1. New home construction starts off 2011 with a ‘fizzle’ The U.S. Census Bureau and US Department of Housing...
2. New Home Construction On Pace For Record Low in 2011 In 1959 the census bureau first started keeping track...
3. New home construction in November inches up;  Curent pace slightly ahead of record-low The last couple of months I have said that,...

What income is required to qualify for a mortgage? That largely depends on your monthly debt payments and the current interest rate. This calculator collects these important variables and determines your required income to qualify for your desired mortgage amount.(click here)

Mortgage interest rates have fallen this year to historical lows

Continue reading... St. Louis Mortgage Rate Update; What income is required for a mortgage?

1. Mortgage Rate Update; The Benefits of ARM’s Even though over the past few years, ARM’s (adjustable rate...
2. Mortgage Rate Update; FHA good alternative for many home buyers In this tighter credit environment, FHA remains to be...
3. Mortgage Rate Update; Trends that will affect the housing market in 2012 The National Association of Realtors’ research staff recently released...