Month: March 2016

The West Drives New-Home Sales Jump

Nationwide, housing market trends are mixed with the West region showing strong new-home sales numbers. February numbers reflected a 19 percent increase overall based on a jump from 502,000 units in January to 512,000 units based on Commerce Department reports. However, this gain is solely due to a 38.5 percent increase in new-home sales in the West while all other

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Market Volatility Throws Mortgage Rate Predictors for a Loop

In 2015, most people who bought a home did so by obtaining a mortgage. The year’s low interest rates increased buyer confidence and expanded the buying power of those who purchased a home. Can we expect the same conditions for 2016? Ups and Downs This year, rates haven’t just declined. They did drop during six of the year’s first nine

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Mortgage Rates: Lowest Since 2012 As We Head Into Spring Selling Season

As we head into spring, mortgage rates continue to fall. They have officially reached their lowest point in over three years. Presently, the average cost of a 30-year fixed rate mortgage is 3.62 percent, which is down 0.03 percent from last week. This is good news, especially if you will be buying a home soon. This rate decrease has been

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U.S. Housing Market Shows Positive Comeback

Freddie Mac just released its Multi-Indicator Market Index (MiMi) showing improvements in the stability of the U.S. housing market. MiMi keeps track of the nation’s housing market by measuring its stability in all fifty states, Washington D.C. and the top 100 metropolitan markets. Although the beginning of 2015 showed a fairly weak housing market, Freddie Mac’s new report offers a

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