National Real Estate Blog

The foreclosure rate is rising as many of the nation's homeowner's fall behind in their monthly mortgage payments. According to RealtyTrac, Inc., more foreclosure warnings have been received during the first 6 months of this year than were distributed during the first half of 2009. The high unemploy [Read More]

Falling to 66.9% in the second quarter of this year, according to the Census Bureau, the average number of homeowners in the country has fallen to the lowest level seen in over a decade.Across the nation, the rates were the highest in the Midwest and the lowest in the west, while the Northeast and t [Read More]

New benefits under the Homebuyer Tax Credit for military members serving outside of the U.S. have been extended by one year. First time homebuyers that are members of the military have until April 30, 2011 to enter into a purchase contract. If a contract is signed by the April 30th deadline, homebuy [Read More]

According to mortgage giant, Freddie Mac, mortgage rates on a 30 year fixed mortgage fell again this week to a record low of 4.57%. This marks the lowest rate ever recorded by Freddie Mac, who began keeping track of mortgage rates in 1971.Rates started dropping when the FED began pumping $1.25 billi [Read More]

Mortgage rates on a 30-year fixed mortgage have dropped to the lowest point in over 50 years, according to mortgage giant, Freddie Mac. Dropping to 4.58% this week, a level not seen since the 1950's!After the expiration of the FED program that was pumping $1.25 billion into mortgage backed securitie [Read More]

The National Association of Realtors (NAR) has claimed that nearly 180,000 homebuyers that purchased homes under the Homebuyer Tax Credit will not receive their tax credit if congress does not pass an extension by today.According to Vicki Cox Golder, President of NAR, We are strongly urging the Sena [Read More]

Mortgage rates dropped this week to the lowest rate in 31 years, according to mortgage giant, Freddie Mac.The rates came in at 4.69%,whichis very attractive to both homebuyers and refinancers. However, refinancing has become a difficult task as many homeowners are "underwater" on their mortgage, whi [Read More]

To qualify for the credit, buyers had to sign purchase contracts by April 30 and must close on the transaction by June 30. The National Association of Realtors estimates that from 55,000 to 75,000 homebuyers who are under contract won't be able to close in time to claim the tax credit. There w [Read More]

According to the Mortgage Bankers Association, in a weekly comparison, mortgage applications rose 18% last week. Refinances are making up nearly 75% of the mortgage activity, jumping to the highest level seen in over a year.Economists believe that it is the low mortgage rates that are enticing refin [Read More]

New home construction as well as building permit applications declined in May, according to the Commerce Department. Many economists believe that the reason for the fall is the expiration of the Government programs which have been fueling the real estate market, in the spring.According to James Marp [Read More]