For December, 2013

Mortgage rates on the rise again


Flat screens and espresso makers? No, turns out that consumers should have been buying mortgages on Cyber Monday. By the end of the day, the average rate on the commonly used 30-year-fixed mortgage was 4.5%, its highest point since mid-September, according to Mortgage News Daily. It was 3.36% a year ago.

Home prices were up 12.5% in October, according to the latest reading from CoreLogic. While the gains are beginning to slow, the sharp move up this year has rattled the housing recovery.

Despite rising rates, several mortgage products are available, and you may be able to reduce your monthly payment a bit if you have clean credit and a solid down payment. In today’s market, of course, those are big ifs. While housing price gains had been viewed as a sign of recovery, most are now saying that a slowdown going into 2014 is a good thing.

Taking a collective breath will help some during the slow winter season, but buyers should beware that spring could bring not just higher prices but higher mortgage rates. The days of the 3 percent 30-year fixed are clearly over.

详细历史记录请参看:Rates History

Pending home sales fall again


Signed contracts to buy existing homes fell for the fifth straight month in October, as the government shutdown added to an overall slowdown in the U.S. housing market. So-called pending home sales eased 0.6% from an upwardly revised September reading and are down 1.6% from October 2012, according to the National Association of Realtors. This is the lowest sales pace since December 2012.

Regionally, gains in pending home sales in the Northeast and Midwest were stronger, while the South and West saw deeper declines. Sales rose 2.8% month-to-month in the Northeast and 1.2% in the Midwest. Sales slipped 0.8% in the South from September and in the West the decline was steepest, with 4.1% fewer buyers signing contracts.

While the Realtors’ survey,  showed a big drop in the usually investor-heavy West, another report saw investors returning to the market in October after stepping back earlier in the year. After surging to 23% of the market in February, investors made up just 16.6% of home buyers in August, according to Campbell/Inside Mortgage Finance. Over the past two months, however, that share has climbed back to 17.4%

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