Category: News

Mortgage Rates Trending Lower Going into Home-Buying Season

Regan Hagestad May 10, 2016

If you’re looking to buy a home this spring, you’re timing couldn’t be better. Mortgage rates are hitting their lowest levels in years, according to Freddie Mac’s recently released Primary Mortgage Market Survey. “The Fed’s decision to stand pat, followed by a week of assorted unsettling news drove Treasury yields lower,” says Sean Becketti, Freddie Mac’s chief economist. “As a

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Home Prices Gain Ground in March

Regan Hagestad May 3, 2016

In March 2016, U.S. home sellers reaped the highest prices since the onset of the Great Recession in December 2007, according to RealtyTrac, which provides comprehensive housing data nationwide. Sellers across the nation received $30,500 more (an 17 percent average gain in price) than they purchased their homes for in March, according to the organization’s March and first-quarter 2016 U.S.

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All-Cash Transaction Percentages

Regan Hagestad April 27, 2016

Early this year, cash sales slid higher showing an increase from December but coming in at a considerably lower percentage than where they were the year before. According to CoreLogic, cash sales totaled 35.5 percent of residential transactions. Reports show that this is 1.9 percent higher than the previous month. Cash sales usually rise in January, but this year’s numbers

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Strong March New Home Sales

Regan Hagestad April 21, 2016

The spring housing market continues to experience strong growth. The most recent new home sales report from the Mortgage Bankers Association shows an increase of 17 percent over last month. With the shortage of existing homes for sale, buyers are turning to new construction. Another recent report revealed a sudden uptick in mortgage applications last week that also confirmed the

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Mortgage Rates Recover Some Recent Losses

Regan Hagestad April 11, 2016

Although the Federal Reserve raised interest rates Dec. 16, rates charged for home mortgages reached all-time lows in February. The prospect of additional Fed rates hikes in 2016 caused a short-term uptick in mortgage rates in early March. As market fears subsided, mortgage rates drifted lower. Recently, lenders have been quoting rates of 3.875 percent or lower based on the

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The Best Markets for Investing in Single-Family Homes Right Now

Regan Hagestad April 5, 2016

While the current housing market is facing a lack of real estate sales inventory, the rental market is on a promising upswing for investors. Because the purchasing price of single-family homes continues to rise, possible home buyers are searching for suitable housing options. In essence, an investor could purchase a property for $100,000 and earn $15,300 in rental income for

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The West Drives New-Home Sales Jump

Regan Hagestad March 29, 2016

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

Regan Hagestad March 15, 2016

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

Regan Hagestad March 8, 2016

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

Regan Hagestad March 2, 2016

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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