What’s Ahead For Mortgage Rates This Week-September 30, 2013
What’s Ahead For Mortgage Rates This Week-September 30, 2013
What’s Ahead For Mortgage Rates This Week-September 30, 2013
Sales of existing homes reached their highest volume in almost six years in August. The National Association of REALTORS reported Thursday that sales of existing homes rose 1.70 percent in August to a seasonally-adjusted annual rate of 5.48 million existing homes sold.
Just two months after falling to a multi-month low, the Housing Market Index surged again in November, climbing another three points to 21
According to the the latest Foreclosure Inventory Analysis showed nearly 1.5 million properties were currently in the foreclosure process or being held by banks as Real Estate Owned.
This was up 9 percent from the first quarter of 2012, but down significantly from the apex of foreclosure activity — 2.2 million units — in December 2010.
Existing home sales have increased by 10.2 percent as compared to 4.52 million existing home sales for February 2012, and have increased for 20 consecutive months. Read more…
Last week, the S&P/Case-Shiller Index showed home prices gaining 8.1 percent during the 12-month period ending January 2013, marking the largest year-over-year increases since the summer of 2006.
The previous couple years’ doom and gloom outlook is looking like it is turning more upbeat and robust for the rest of 2013.
19 of 20 metro areas showed higher home prices in Q 4 2012 with the New York metro area showing a decrease in home prices; this could be due in part to the impact of Hurricane Sandy.
Last week, the S&P/Case-Shiller Index showed home prices gaining 5.5 percent during the 12-month period ending November 2012, marking the largest one-year gain in home prices since May 2010.
Home sales dropped last month, but not because demand was lacking. There are fewer homes for sale than at any time in the last 11 years.