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Credit River Township Real Estate Blogs
Low mortgage rates are helping to make homes more affordable. It appears home buyers have taken notice. According to the National Association of REALTORS®, Existing Home Sales rose 3.4% in April from the month prior, registering 4.62 million homes ...
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Falling mortgage rates and stagnant home prices are making a positive effect on home affordability nationwide. Never before in recorded history have so many homes been affordable to households earning a moderate annual income. Last week, the National Association ...
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10 Tips When Applying for a Mortgage Loan 1. Do not change jobs or become self-employed. 2. Do not buy a car, truck or van unless you plan to live in it. 3. Do not use your credit cards or let your payments fall behind. 4. Do not spend the money you have ...
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America's 10 Richest Counties[19 views]
There are 3,033 counties in the United States. Which 10 are the richest in terms of median household income? Not surprisingly, those near major economic centers rank high. In a study based on household income estimates from the Census Bureau's American ...
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Is More Fed-Led Stimulus On Its Way?[37 views]
The Federal Open Market Committee released its April 2012 meeting minutes this week, revealing a Federal Reserve in the ready in the event additional monetary stimulus is needed. The Fed Minutes function much like the minutes from a business meeting; or, ...
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The new construction housing market continues to improve. One day after the National Association of Homebuilders reported a 5-year high in homebuilder confidence, the U.S. Census Bureau reports that single-family housing starts rose 2 percent for the second ...
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Homebuilder Confidence is on the rise once again. After a brief dip in April, the National Association of Homebuilders reports that the Housing Market Index rose 5 points in May to 29. The increase marks the sharpest climb in homebuilder confidence on ...
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Home affordability is receiving a boost from across the Atlantic Ocean this spring.
For the third time in as many years, a weakening Eurozone is pushing May mortgage rates to new lows throughout Minnesota and nationwide. The story centers in Greece and ...
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Conforming mortgage rates continue to drop. For the second straight week, the 30-year fixed rate mortgage fell to a new, all-time low nationwide. According to Freddie Mac's weekly mortgage rate survey, the average 30-year fixed rate mortgage rate dropped ...
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Improving Market Index![60 views]
The economic recovery continues nationwide, but the recovery's an uneven one.
Some metropolitan areas are faring very well this year, posting measurable gains in both employment and housing. Other metropolitan areas, by contrast, are struggling. To ...
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Is your mortgage scheduled to adjust this season? You may want to let it. This year's ARM-holding homeowners in Minnesota are finding out that an adjusting mortgage may be the simplest way to get access to today's low mortgage rates -- without ...
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Executives at Bank of America say they will begin mailing 200,000 letters offering certain customers mortgage principal reduction. Eligible borrowers could get as much as $150,000 knocked off the balance of their mortgages. Source: CNBC Realty Check Diana ...
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Reverse Mortgages : Pros And Cons[29 views]
Despite several big-name banks pulling the product from their respective home loan offerings, reverse mortgages remain a popular mortgage choice among homeowners aged 62 or over. A reverse mortgage is exactly what it sounds like -- a mortgage in reverse. ...
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Been shopping for a mortgage rate? You may want to lock something down. Tomorrow morning, mortgage rates are expected to change. Unfortunately, we don't know in which direction they'll move. It's a risky time for Minnesota home buyers to be ...
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Home Values Start The Year Strong[59 views]
Home prices started the year on an upswing. According to the Federal Home Finance Agency's Home Price Index, home prices rose by a seasonally-adjusted 0.3 percent between January and February 2012. The index is up 0.4% over the past year, offering ...
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Despite an improving U.S. economy, the nation's banks remain cautious about what they will lend, and to whom.
Last quarter, by a margin of 3-to-2 , more banks tightened residential mortgage lending standards for "prime borrowers" than did ...
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After a series of worse-than-expected data last month, the housing market appears to be back on track. The Pending Home Sales Index posted 101.4 in March, a four percent gain from the month prior and the index's highest reading since April 2010 -- ...
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The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent Wednesday.
For the fifth consecutive month, the Fed Funds Rate vote was nearly unanimous. Just one FOMC member, Richmond ...
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Sales of new homes ticked lower in March, unexpectedly.
Based on Census Bureau data, the number of new, single-family homes sold in March slipped 7 percent from February -- the largest one-month drop in more than a year. On a seasonally-adjusted, annualized ...
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The Federal Open Market Committee begins a 2-day meeting today in the nation's capitol. It's the group's third of 8 scheduled meetings this year. Mortgage rates are expected to change upon the Fed's adjournment. Led by Chairman Ben Bernanke, ...
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Low-Ball Offers![53 views]
Low inventories, multiple offers, and more sellers realistic about pricing change the playing field. Source: The Washington Post Real Estate article April 19 2012 Low-Ball Bidders
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Existing Home Sales Slip In March[87 views]
In March, for the second straight month, home resales slipped nationwide.
According to the National Association of REALTORS®, March 2012 Existing Home Sales fell to 4.48 million units on a seasonally-adjusted annualized basis -- a 3 percent drop from ...
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According to foreclosure-tracking firm RealtyTrac , foreclosure filings fell to 199,000 in March 2012, a 17 percent decrease from March 2011. Last month marks the first time since July 2007 that foreclosure filings numbered less than 200,000 on a monthly ...
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Tuesday, the government released its March 2012 New Residential Construction report. The report is made up of three sections, each related to a phase of the "new home" market. The report's first part is Building Permits; the second is Housing ...
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For the first time in 3 months, homebuilder confidence has slipped. As measured by the National Association of Homebuilders, the Housing Market Index dropped three notches in April to a reading of 25. The report measures homebuilder confidence in the newly-built, ...
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