Tag Archives: rising interest rates

Housing Experienced a Supply and Demand Conflict in May

The housing market experience experienced a “conflict” between supply and demand in May as increased home values resulted in sales, which subsequently increased supply – but at the same time, lack of affordability and economic uncertainty reduced demand, according to First American Chief Economist Mark Fleming. The market capacity for existing-home sales increased by 0.3 […]

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Pending Home Sales Rise to Highest Level in Nine Years

The National Association of Realtors (NAR) recently reported in their Pending Home Sales Index (PHSI) that, pending home sales increased in April for the fourth consecutive month and reached their highest peak in nine years. All four major regions saw growth in April, led by the Northeast and Midwest. “The steady gains in contract activity […]

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High Rents Prevent Potential Buyers From Owning Homes

The latest conundrum in the U.S. housing market is that while a large majority of the country’s top metro areas are more affordable than they’ve ever been, rental property prices are so high that renters in a large percent of those markets can’t afford to save up enough for a down payment to buy a […]

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Improving Economy Bumps Up Mortgage Rates

Signs of an improving economy boosted fixed mortgage rates this week, market reports show.According to Freddie Mac, the average rate on a 30-year fixed-rate mortgage was 4.20 percent (0.6 point) for the week ending June 12, an increase of 6 basis points from last week’s report. Last year, the 30-year fixed-rate hovered just below 4.0 […]

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Consumers Offer Mixed Opinions on Housing Market’s Future

Housing optimism for the year ahead diminished somewhat in March, though signs largely point to a positive spring season. Fannie Mae released Monday its most recent National Housing Survey, revealing a slight softening in the housing recovery as monthly indicators remain volatile. According to results from the March survey, fewer than half of consumers polled expect home […]

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Are we still heading towards 5% mortgages? Lyn Trayte 602-739-0095

A CNN Money article posted recently had some possible good news for buyers who have been hesitating due to rising interest rates.  Last Wednesday, the Federal Reserve announced that it would NOT start tapering it’s purchases of mortgage-backed securities & Treasury bonds.  With prior concerns over reduced bond buying programs, rates on 30 year fixed […]

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Is the Phoenix Housing Finally Back to Normal?

According to Arizona State University, the Metro Phoenix Housing Market finally has the appearance of being more “normal”, with rising home prices, waning investor involvement & dwindling foreclosures & distressed properties across the Valley. After many months of chronic shortage of available inventory, it is even looking like a more balanced market as well, with […]

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Hope for Homeowners

We all have seen interest rates rising in the past weeks with 30-year fixed mortgages going up almost a full percentage point from the all time lows recorded about 6 months ago. Consumers (and REALTORS(R) are understandably concerned about how these rising interest rates are going to affect the real estate market. While there is […]

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Shadow Inventory? Not from Foreclosure Holdbacks!!!

http://www.dsnews.com/articles/foreclosure-filings-reach-six-and-a-half-year-low-2013-07-10 The most recent report from Realty Trac shows filings of foreclosures hitting a 6 1/2 year low in June, dipping 14% from May and down $35% from a year ago, dropping to a low not seen since December of 2006.  The year to date foreclosure filings are down 23% from the same time period […]

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