Category Archives: Home Purchase

For Mortgage Rates, “High 3’s” In Sight Once Again.

Mortgage rates took the day to do just a little bit more of what they’ve been doing in fairly grand fashion for the past week: MOVE LOWER! When the good times started in earnest, rates were already in line with their lowest levels in more than a year. As of today, they’re another quarter or […]

New Home Sales Dip, Still Stronger than Last Year

BY JANN SWANSON The Mortgage Bankers Association (MBA) reports a drop in applications for the purchase of newly constructed homes last month. Those applications fell by 3.9 percent compared to August although they remained 8.2 percent higher than they were the previous September. The change does not reflect any seasonal adjustment. The information comes from […]

BY JANN SWANSON It appears that, while Americans are generally upbeat about the economy, housing, and their own financial fortunes, they have a little difficulty maintaining those sentiments. Fannie Mae said today that its Home Purchase Sentiment Index (HPSI) reversed direction again in September, falling 0.3 point to 87.7. The downturn did not erase the […]

Upfront Home Costs Add Up – Especially if Downpayment is Included

BY JANN SWANSON Two Zillow subsidiaries are estimating it will cost the average U.S. homebuyer $40,000 to get in the door of their new home. Depending on where the home is located, according to a new analysis from and Thumbtack, the number could be $26,641 (in Cleveland) or $202,834 (San Jose.) That headline number […]

Long Island Home Prices Increase During Q4 2013

The Long Island housing market recently showed growth at the end of 2013 with a boost in housing prices. This meant more sales, but, at the same time, resulted in the lowest inventory numbers in more than ten years. Miller Samuel, a brokerage firm, and the real estate firm Douglas Elliman released a report that […]

CoreLogic: Fewer Homes Underwater in Q2 2013

CoreLogic recently reported that 2.5 million U.S. mortgages have surfaced from negative equity or underwater in the second quarter of 2013. That means 41.5 million U.S. homes currently exist with a positive-equity type of mortgage. Despite an increase in mortgages, 7.1 million homes are still considered underwater due to homeowners owing more money than the […]

Institutional Investors, Cash Buyers Push Up Home Sales

RealtyTrac recently reported that a total of 14% of residential sales in the last year derived from people or institutions buying 10 or more residential properties. This is the highest level since RealtyTrac began tracking home purchases two years ago. Forty-nine percent of last month’s home sales were all-cash, up from 40% in August and […]

RealtyTrac: More Homes Bought with Cash in July

RealtyTrac’s latest report shows that cash sales continued to rise, hitting 40 percent in July from 35 percent in June and 31 percent in July of 2012. RealtyTrac cited the recent uptick in interest rates as the reason for more cash buys, as some non-cash buyers can no longer afford to purchase a home, particularly […]