Mortgage Forgiveness Debt Relief Set to Expire

There is a key piece of legislation set to expire at the end of this year which could have a HUGE impact on the real estate market & for many homeowners wanting to sell their homes. This legislation is the Mortgage Forgiveness Debt Relief Act of 2007 which exempts homeowners from having to pay tax […]

Running Out of Adjectives To Describe Low Interest Rates

When will the bottom hit? That’s question is probably more appropriate when talking about mortgage rates than home prices. Many locations throughout the US have likely seen the bottom of the market in terms of pricing, but the mortgage rates just keep dropping lower. Freddie Mac’s official release this past week indicated new records for […]

Harvard Study Among New Reports Of Market’s Recovery

Each year Harvard University’s Joint Center for Housing Studies releases a report on the state of the nation’s housing from their research and viewpoint. This year’s edition points to increasingly strong fundamentals that have the housing market poised for a significant recovery this year. Some markets are already seeing this impact. The primary area that […]

Hitting Record Lows Commonplace For Mortgage Rates

It seems recently each new week brings along with it a record low interest rate on 30-year fixed rate loans. Freddie Mac reported that another record was set this week with the avearage 30-year FRM at 3.79% down from last week’s record of 3.83% Both week’s rates came along with an average 0.7 points for […]

Tucson Named Best Place to Buy recently showcased the best places to purchase a home right now based upon Feburary housing data and Tucson came in at number 1 on the list. Affordability for homes is near an all-time high given the drop from peak housing prices coupled with near record low mortgage rates. The article stated how many […]

Mortgage Rate Update

Freddie Mac’s official release last week shows mortgage rates holding steady. The 30-year fixed rate mortgage averaged 3.98% (with an average 0.7 points) which is down fractionally from 3.99% the week prior and still substantially lower than this time last year when the FRM averaged 4.87%. The 15-year FRM settled at 3.21% (0.7 points) on […]

Under Contract? Hold Off on Purchases

One of the common mistakes that both first-time homebuyers and sesasoned real estate buyers can make is to throw a wrench into a loan approval prior to closing by making large purchases. Today most buyers will receive pre-approval before even making an offer but may not fully realize that it’s not until a loan is […]

Interest Rates Edge Upwards Again

One of the factors that has made today an excellent time to buy a home has been the extremely low interest rates. Clearly this won’t last forever and as the economy continues its recovery the Fed will certainly raise interest rates once a solid foundation takes hold. This last week’s interest rate rise is certainly […]

Warren Buffett’s Sage Advice – Buy Homes!

Investment tycoon and perennial prognosticator, Warren Buffet, delivered a two part message this past week. First is that he was dead wrong about the housing market’s recovery which he predicted last year would have already rebounded. The second is that he still believes housing is an excellent investment by generating rental income. While the so-called […]

National Builders See Uptick in Contracts

Several of the nations largest homebuilders, including D.R. Horton & Lennar recently have publicly stated an increase in sales orders of new construction homes nationally. Largely fueled by the improving affordability of homes in contrast to renting, this spurred D.R. Horton to beat Wall Street estimates of its profits for the 1st quarter. Homebuilder sentiment […]