![Mortgage rates fall for the second week in a row]()
by LLT | Jan 13, 2017 | LLT, News
Mortgage rates pulled back again this week as the exuberance that led to their rapid rise is beginning to temper.
According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average tumbled to 4.12 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.2 percent a week ago and 3.92 percent a year ago.
After escalating for nine consecutive weeks, the 30-year fixed rate has fallen the past two weeks. It is back to where it was in early December.
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by LLT | Jan 12, 2017 | LLT, News
Construction of single-family homes is expected to gradually rise this year, as a growing economy, solid employment gains, and rising household formation buoys builders’ forecasts.
Last year, the National Association of Home Builders projected 1.16 million total housing starts in 2016, which was up nearly 5 percent from the previous year. Now NAHB is forecasting a 10 percent increase in single-family production for 2017 and a 12 percent rise for 2018.
Read the full article here.
by LLT | Jan 11, 2017 | LLT, News
November saw yet another annual decline in foreclosure inventory, according to the November 2016 National Foreclosure Report from CoreLogic.
Once again, foreclosure inventory declined 30% annually in November, and completed foreclosures decreased by 25.9% from November 2015, according to the report. Since November of 2015, foreclosures dropped from 35,000 to 26,000. This represents a decrease of 78.2% from September 2010’s peak of 118,339 foreclosures.
Read the full article here.
by LLT | Jan 10, 2017 | LLT, News
by LLT | Jan 9, 2017 | LLT, News
Fixed mortgage rates, which have been on a tear since the presidential election, retreated this week, falling for the first time in nine weeks.
According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average tumbled to 4.2 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.32 percent a week ago and 3.97 percent a year ago.
Read the full article here.
by LLT | Jan 6, 2017 | LLT, News
Spread the news to your seller contacts sitting on the fence: Home prices nationwide, including distressed sales, rose year over year by 7.1 percent in November 2016 compared to November 2015, CoreLogic’s Home Price Index shows.
Read the full article here.
Mortgage rates pulled back again this week as the exuberance that led to their rapid rise is beginning to temper.
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