Mortgage Rates Inch Up After Record Lows

Mortgage Rates Inch Up After Record Lows

Daily Real Estate News | Friday, February 24, 2012

For the first time in three weeks, fixed mortgages rate moved up from their all-time lows, Freddie Mac reports in its weekly mortgage market survey.

One of the factors leading to higher fixed mortgage rates this week was signs of a gradually improving housing market, Freddie Mac Chief Economist Frank Nothaft says. For example, the Mortgage Bankers Association reported this week that seriously delinquent loans — those 90 days or more past due — and the inventory of foreclosures dropped 5.3 percent by the end of 2011, marking the lowest quarterly share since the beginning of 2009. Also, the National Association of REALTORS® reported this week that existing-home sales in January were at their strongest pace since May 2010.

January Home Sales Up Again

Existing-home sales rose in January for the third time in the last four months, according to the National Association of Realtors (NAR). January sales – completed transactions – were up 4.3 percent from December to a seasonally adjusted annual rate of 4.57 million. December’s total was revised downward to 4.38 million from 4.61 million. The January 2012 sales pace was up 0.7 percent from January 2011.

Is The Housing Recovery Here? | Builder Confidence Returns

Is The Housing Recovery Here? | Builder Confidence Returns

30-year mortgage rate stays at record 3.87%

30-year mortgage rate stays at record 3.87%
WASHINGTON — The average rate on the 30-year fixed mortgage held steady at a record low for a third straight week, offering more incentive to those looking to buy a home or refinance.

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Mortgage rates cling to record lows this week

Mortgage rates cling to record lows this week

Don't miss out on this great opportunity to own your own home rates are hitting record lows.

5 Signs of Recovery for Real Estate in 2012

5 Signs of Recovery for Real Estate in 2012

We believe that things are looking up for Utah home buyers and sellers. Hear what DeAnna Dipo, 2011 Salt Lake Board President on Fox 13 News : http://lnkd.in/8_T6FS