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Chief Blogger: Christopher Dente, Director of Public Relations | 212.685.7777 | cdente@citi-habitats.com
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News
Mortgage Rate Update
Posted by Christopher Dente | November 20, 2009
Source: BankRate.com
View: three months
5/1 A.R.M. 4.19%
15-Year Fixed 4.49%
30-Year Fixed 5.02%
5/1 Jumbo 4.69%
15-Year Jumbo 5.39%
30-Year Jumbo 5.85%
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U.S. Mortgage Rates Fall for Third Consecutive Week
Posted by Christopher Dente | November 20, 2009
U.S. Mortgage Rates Fall for Third Consecutive Week
By Brian Louis
Nov. 19 (Bloomberg) -- Rates for 30-year fixed U.S. home loans fell for the third straight week, offering a boost to potential buyers who may use a government tax credit to purchase homes. The 15-year rate declined to a record low.
The 30-year rate dropped to 4.83 percent from 4.91 percent, the lowest since May, mortgage buyer Freddie Mac of McLean, Virginia, said today in a statement. The average 15-year rate fell to 4.32 percent, the lowest since records began in 1991.
Read full article here.
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With F.H.A. Help, Easy Loans in Expensive Areas
Posted by Christopher Dente | November 20, 2009
With F.H.A. Help, Easy Loans in Expensive Areas
By DAVID STREITFELD | NY Times
SAN FRANCISCO — In January, Mike Rowland was so broke that he had to raid his retirement savings to move here from Boston.
A week ago, he and a couple of buddies bought a two-unit apartment building for nearly a million dollars. They had only a little cash to bring to the table but, with the federal government insuring the transaction, a large down payment was not necessary.
Read full article here.
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U.S. Housing Recovery Delayed to 2010 as Market Wanes
Posted by Christopher Dente | November 20, 2009
U.S. Housing Recovery Delayed to 2010 as Market Wanes
By Kathleen M. Howley and John Gittelsohn
Nov. 20 (Bloomberg) -- A recovery in U.S. housing will have to wait at least until next year.
The outlook for the home market dimmed this week as residential construction and mortgage applications fell and loan delinquencies reached a record.
Read full article here.
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Real Estate Outlook: Moving Towards Recovery
Posted by Christopher Dente | November 17, 2009
Real Estate Outlook: Moving Towards Recovery
by Kenneth R. Harney
(Realty Times) The huge impact of the federal home buyer tax credit program, which is now set to continue and even expand through next spring, dominates the housing resale numbers this week.
Sales of existing houses during the third quarter jumped by 11.4 percent over second quarter sales, according to the National Association of Realtors.
Read full article here.
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