Monthly Archives: January 2012

Mortgage Rates for the Week of:   January 30, 2012

Mortgage markets improved last week as news from the Federal Reserve, the U.S. economy, and Europe combined to spur new demand for mortgage-backed bonds. Conforming mortgage rates rallied from Wednesday through Friday’s close, ending the week near all-time lows set earlier this year. Last week’s rally was sparked by the Federal Open Market Committee. After […]

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Pending Home Sales Index Posts Second Best Month Since April 2010

After 3 consecutive months of growth, the housing market appears to have eased a bit in December. According to the National Association of REALTORS®, December’s Pending Home Sales Index slipped 4 percent from the month prior. The index measures the number of homes under contract to sell nationwide, but not yet sold. Despite falling below […]

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New Home Sales Were Worst Ever in 2011

WASHINGTON (AP) — Fewer Americans bought new homes in December. The decline made 2011 the worst year for new-home sales on records dating back nearly half a century. The Commerce Department said Thursday new-home sales fell 2.2 percent last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the […]

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Existing Home Sales Approach Bull Market Territory

The housing market finished 2011 with strength, and is carrying measurable momentum into 2012. According to data from the National Association of REALTORS®, on a seasonally-adjusted, annualized basis, December’s Existing Home Sales climbed by 120,00 units overall from the month prior on its way to an 11-month high. An “existing home” is a home that’s […]

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Mortgage Rates for the Week of:   January 23, 2012

The outlook for the U.S. economy improved last week, taking the mortgage bond market with it. For the first time this year, conforming mortgage rates rose throughout Idaho from one week to the next. Data was strong across all categories last week. Home Resales :Existing Home Sales rose 5% New Homes : Single-Family Housing Starts […]

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Rate on a 30-year mortgage hits record low

WASHINGTON (AP) — The average rate on the 30-year fixed mortgage fell again this week to a record low. The eighth record low in a year is attracting few takers because most who can afford to buy or refinance have already done so. Mortgage buyer Freddie Mac said Thursday that the average rate on the […]

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Mortgage Rates for the week of:   Janaury 17, 2012

Mortgage markets gained last week, picking up momentum into the weekend. Global demand for mortgage-backed bonds helped push mortgage rates to new lows, and closing costs eased somewhat, too. According to Freddie Mac’s weekly mortgage rate survey, the average 30-year fixed rate mortgage rate fell to 3.89% nationwide. In order to get access to 3.89% […]

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Will Home Values Rise This Year

Will your home gain value over the next 12 months? Nobody can know for sure, but should recent housing trends continue, there’s concrete cause for optimism. The housing economy has suffered since 2007, knocking home values down nearly 20% nationwide. And while some areas have fared better as compared to others, in general, home values […]

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Lock Your Mortgage Rate : New Loan Fees Expected Within Days

Starting soon, nearly all home buyers and refinancing households throughout Idaho and nationwide will pay higher mortgage loan fees. Congress has made it law. 13 months ago, as part of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Congress enacted a one-year cut to FICA payroll taxes. FICA stands for Federal […]

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Mortgage Rates for the week of:   January 10, 2012

Mortgage markets improved last week, pushing mortgage rates in Idaho lower for the second straight week. Conforming fixed and adjustable-rate mortgage cut new, all-time lows, and FHA mortgage rates did the same. In a holiday-shortened trading week, stronger-than-expected U.S. economic data and ongoing weakness within Europe drove investors into the U.S. mortgage-backed bond market. When […]

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