Home prices rise 12.1% in June

WASHINGTON (AP) – Aug. 27, 2013 – U.S. home prices rose 12.1 percent in June from a year earlier, nearly matching a seven-year high. But month-over-month price gains slowed in most markets, a sign that higher mortgage rates may weigh on the housing recovery. The Standard & Poor’s/Case-Shiller 20-city home price index slowed only marginally […]

FHA cuts mortgage wait times after hard times

WASHINGTON – Aug. 19, 2013 – The Federal Housing Administration (FHA) is making it easier for once-struggling homeowners to qualify for a mortgage backed by the agency. For borrowers who meet certain requirements, the FHA is trimming to one year the amount of time that homebuyers must wait after a bankruptcy, foreclosure or short sale […]

Average rate on 30-year U.S. mortgage stays at 4.4%

WASHINGTON – Aug. 16, 2013 – Average rates on U.S. long-term fixed mortgages remained steady for a second straight week, giving prospective homebuyers more time to lock in historically low levels. Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan remained unchanged at 4.4 percent this week. That is a […]

Average rate on 30-year loan falls to 4.31%

WASHINGTON (AP) – July 26, 2013 – Average rates on U.S. fixed mortgages fell for the second straight week, a welcome sign for homebuyers hoping to lock in lower rates that had spiked earlier this month. Mortgage buyer Freddie Mac said Thursday that the average on the 30-year loan fell to 4.31 percent. That’s down […]

Experts: Say so long to mortgage rates in the 3’s for now

NEW YORK – July 9, 2013 – The era of the 30-year home mortgage rate in the 3’s suddenly appears to be over. In less than a month, the popular loan option for financing a home purchase has surged by more than a full percentage point. The increase was capped by an eye-catching, quarter-point increase […]

May home prices rise by 12.2% – most in 7 years

WASHINGTON (AP) – July 2, 2013 – U.S. home prices jumped 12.2 percent in May from a year ago, the most in seven years. The increase suggests the housing recovery is strengthening. Real estate data provider CoreLogic said Tuesday that home prices rose from a year ago in 48 states. They fell only in Delaware […]

Is the 10% down mortgage making a comeback?

NEW YORK – June 21, 2013 – The 10 percent downpayment may be back. Reportedly, some lenders are offering 90 percent financing once again on all loan types. RPM Mortgage, based in San Francisco, resumed its “piggyback” loans in the first quarter of this year. The company had put its piggyback loans on hiatus in […]

30-year FRM has highest one-day increase on record

NEW YORK – June 24, 2013 – Homebuyers who were waiting to lock in a mortgage rate – hopeful that the recent increases may decline a bit – could be out of luck. Freddie Mac’s popular weekly mortgage rate analysis noted a slight drop last week; but according to Matthew Graham, a rate strategist for Mortgage […]

U.S. rate on 30-year mortgage rises to 3.98%

WASHINGTON – June 14, 2013 — Fixed U.S. mortgage rates rose for the sixth straight week, putting the average rate on the 30-year loan just shy of 4 percent. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan increased to 3.98 percent. That’s up from 3.91 percent last week and the […]

Rate on 30-year mortgages rises to 3.59%

WASHINGTON – May 24, 2013 – Average rates on fixed mortgages rose for the third straight week, hitting their highest levels since mid-March. Still, mortgage rates remained close to historic lows, a trend that should help sustain the housing recovery. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year loan increased […]