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May 14, 2013
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The nation’s residential housing market is experiencing the best period it has in years. New home sales and existing home sales are on the increase; creating a seller’s market in some areas of the country.
For most Americans, purchasing a home represents one of the most important decisions they will make in their life—financial or otherwise.
Despite the significant financial investment, a survey conducted by the real estate website Zillow reveals that most people do not properly prepare themselves for the home buying process and later they don’t know when is best to mortgage refinance.
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Updated 24 days ago
The 15-year fixed rate mortgage fell to 2.61% today, down from 2.64% last week. These low interest rates haven’t been seen since Nov 2012. Freddie Mac released its rates update today showing national rates dropping on a continued slide, across the board. For four weeks in a row, the most popular, 30-year fixed rate mortgage is on a decline, falling a one basis point to 3.40%.
Variable mortgage rates were also down, 5/1 ARMs being the biggest winner loosing 2 basis points down to 2.58% and one-year ARMs lost a single point to reach 2.62%.
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Updated 18 days ago
Home Mortgage Applications rose last week driven by high demand for mortgage refinance as interest rates dropped, industry data showed on Wednesday.
The Mortgage Bankers Association (MBA) reported its seasonally adjusted index of mortgage application activity, which includes both refinancing and home buying demand, increased 1.8 percent in the week ending April 26.
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Foreclosure and Bankruptcy
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