Real estate market update

[highlight bg=”#fff199″ color=”#000000″]What’s the real estate market doing now?[/highlight] Lots of contrasting trends. On one hand,Notices of default are up 39% . But houses actually getting foreclosed on fell 28% from the prior quarter as...

Impact of mortgage rates on housing payments

The average 30 yr mortgage rate jumped to 4.51% for the seven-day period ending on July 10th.  That is an increase from 4.29% a week earlier and 3.98% for the second week in June.  The higher rates increased monthly principle and interest payments by roughly 6.5%....

Shadow inventory down

CoreLogic said today that completed foreclosures ticked up slightly in May compared to April, but the number of homes in process of foreclosure, the foreclosure inventory, was down to about the same degree. Both completed foreclosures and the inventory are lower by...

The skinny on mortgage rates

The pendulum is swinging back again. After years of scrooge like actions by the banks, things are changing. Rates are up to 4.6% for a 30 year fixed. If you hear lower rates quoted its because they are charging lots of points and fees. That’s the difference between...

Mortgage rates are zooming

Current Mortgage rates are up a full percentage point above their recent record lows, raising costs for borrowers and questions about the housing recovery. A standard 30-year fixed-rate home mortgage rate hit an average of 4.63% on Monday before backing off just...