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The Biggest Roadblocks to Closing
Fewer respondents cite financing as an issue today than when the survey began tracking such data Twenty-three percent of real estate professionals say they faced closing delays for a transaction in March, and 7 percent say the sale contract was terminated altogether,...
Lowest mortgage rates since election push refinances up 7%
Total mortgage application volume rose 2.7 percent last week, according to the Mortgage Bankers Association. Volume was 18 percent lower compared with the same week one year ago. The refinance market came back to life last week, as mortgage rates fell further....
Is This the Best Seller’s Market Ever?
The inventory squeeze has left home buyers with fewer options on the market than they've seen in decades. While that's bad news for them, the continuously high demand means it's one of the best times to be a seller—ever. "I've been selling real estate for 25 years,...
48% of Homes Sell in Less Than a Month
Down from 47 days this time last year Forty-eight percent of homes sold in March were on the market for less than a month, according to housing data from the National Association of REALTORS®. The average for all sold properties, though, was a little higher, at 34...
Freddie predicts tightening inventory this spring
Home sales are predicted to decline from record highs in 2016, according to Freddie Mac. Prospective homebuyers should expect to shell out more as home prices are going beyond the boundaries of income and as interest rates are increasing. "Tight housing inventory has...
Mortgage rates remain in month-long slide, falling to lowest levels in five months
Mortgage rates continued their month-long swoon, sinking to their lowest levels in five months. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average tumbled to 3.97 percent with an average 0.5 point. (Points are fees paid to a...
Ellie Mae: Average closing times now sit at lowest level in two years
Purchase market heats up The average closing time on a loan in 2016 fluctuated around the high 40s, but this is no longer the case, according to the latest Origination Insight Report from Ellie Mae. The survey found that the average time now sits at the lowest level...
Cash-out refinancings on the rise, just like 2008
They’re either a valuable financial tool for homeowners or a harbinger of trouble on the horizon: Cash-out refinancings, which were wildly popular during the housing boom years and contributed to the severity of the crash, are on the rise again. National mortgage...
Rising Applications and Falling Mortgage Rates
As mortgage applications increase, mortgage rates have begun to drop, according to data from the Mortgage Bankers Association (MBA) and Freddie Mac. The MBA’s Market Composite Index, a measure of mortgage loan application volume, rose 1.5 percent from a week earlier,...
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