The Home Buyer IQ

Is More Fed-Led Stimulus On Its Way?

Kevin — Fri, 18 May 2012 12:45:00 +0000

The Federal Open Market Committee released its April 2012 meeting minutes this week, revealing a Federal Reserve in the ready for additional monetary stimulus.

Single-Family Housing Starts Powers Ahead

Kevin — Thu, 17 May 2012 12:45:00 +0000

The new construction housing market continues to improve.

Homebuilder Confidence Moves To 5-Year High

Kevin — Wed, 16 May 2012 12:45:00 +0000

After a brief dip in April, the National Association of Homebuilders reports that the Housing Market Index rose 5 points in May to 29.

Home Affordability Getting A Springtime Boost From Greece

Kevin — Tue, 15 May 2012 12:45:00 +0000

Home affordability is receiving a boost from across the Atlantic Ocean this spring.

What’s Ahead For Mortgage Rates This Week : May 14, 2012

Kevin — Mon, 14 May 2012 12:45:00 +0000

Conforming mortgage rates edged higher last week.

Mortgage Rates Make New All-Time Lows (Again)

Kevin — Fri, 11 May 2012 12:45:00 +0000

Conforming mortgage rates continue to drop.

8-Fold Increase In “Improving Markets” Since September

Kevin — Thu, 10 May 2012 12:45:00 +0000

The economic and housing recovery continues nationwide, but the recovery is an uneven one.

With LIBOR Low, Don’t Rush To Refinance Your ARM

Kevin — Wed, 09 May 2012 12:45:00 +0000

Is your mortgage scheduled to adjust this season? You may want to let it.

Reverse Mortgages : Pros And Cons

Kevin — Tue, 08 May 2012 12:45:00 +0000

A reverse mortgage is exactly what it sounds like -- a mortgage in reverse. Here's some analysis on the program and how it could work for you.

What’s Ahead For Mortgage Rates This Week : May 7, 2012

Kevin — Mon, 07 May 2012 12:45:00 +0000

Mortgage rates improved last week for the first time in 3 weeks.

Planning For A Memorial Day Closing

Kevin — Fri, 04 May 2012 12:45:00 +0000

Planning to close on your home at the end of May? Plan ahead. Memorial Day is coming and the holiday may delay your closing.

Make A Mortgage Rate Plan Ahead Of The Jobs Report

Kevin — Thu, 03 May 2012 12:45:00 +0000

Been shopping for a mortgage rate? You may want to lock something down. Tomorrow morning, mortgage rates are expected to change. Unfortunately, we don't know in which direction they'll move.

Home Values Start The Year Strong

Kevin — Wed, 02 May 2012 12:45:00 +0000

According to the Federal Home Finance Agency's Home Price Index, home prices rose a seasonally-adjusted 0.3 percent between January and February 2012.

Mortgage Guidelines Resume Tightening Nationwide

Kevin — Tue, 01 May 2012 12:45:00 +0000

Despite an improving U.S. economy, the nation's banks remain cautious about what they will lend, and to whom.

What’s Ahead For Mortgage Rates This Week : April 30, 2012

Kevin — Mon, 30 Apr 2012 12:45:00 +0000

Mortgage markets were mostly unchanged last week for the second straight week.

Pending Home Sales Index Crosses The 100 Barrier

Kevin — Fri, 27 Apr 2012 12:45:00 +0000

After a series of worse-than-expected data last month, the housing market appears to be back on track.

A Simple Explanation Of The Federal Reserve Statement (April 25, 2012)

Kevin — Wed, 25 Apr 2012 17:00:00 +0000

The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent Wednesday.

New Home Sales Revised Higher In February; Slip 7% In March

Kevin — Wed, 25 Apr 2012 12:45:00 +0000

Sales of new homes ticked lower in March, unexpectedly.

The Fed Starts A 2-Day Meeting Today. Make A Strategy.

Kevin — Tue, 24 Apr 2012 12:45:00 +0000

The Federal Open Market Committee begins a 2-day meeting today. Mortgage rates are expected to be volatile for the next 48 hours.

What’s Ahead For Mortgage Rates This Week : April 23, 2012

Kevin — Mon, 23 Apr 2012 12:45:00 +0000

Mortgage markets were mostly unchanged last week, breaking a three-week winning streak.

Existing Home Sales Slip In March

Kevin — Fri, 20 Apr 2012 12:45:00 +0000

In March, for the second straight month, home resales slipped nationwide.

Nevada Relinquishes “Top Foreclosure State” Title

Kevin — Thu, 19 Apr 2012 12:45:00 +0000

Last month marks the first time since July 2007 that foreclosure filings numbered less than 200,000 on a monthly basis -- a span of nearly 5 years.

Single-Family Housing Starts Slip 0.2% In March

Kevin — Wed, 18 Apr 2012 12:45:00 +0000

In March, single-family Housing Starts were down 0.2% from the month prior, or just 1,000 units on a seasonally-adjusted, annualized basis.

Homebuilder Confidence Slips 3 Points In April

Kevin — Tue, 17 Apr 2012 12:45:00 +0000

For the first time in 3 months, homebuilder confidence has slipped.

What’s Ahead For Mortgage Rates This Week : April 16, 2012

Kevin — Mon, 16 Apr 2012 12:45:00 +0000

Mortgage markets improved last week as a global flight-to-quality continued.

Mortgage Rates Fall For Third Straight Week

Kevin — Fri, 13 Apr 2012 12:45:00 +0000

After a brief surge north 4 percent last month, mortgage rates have settled back near their lowest levels of all-time.

Tax Tips : What To Do With Your Tax Refund

Kevin — Thu, 12 Apr 2012 12:45:00 +0000

The typical U.S. taxpayer will receive roughly $3,000 in federal income tax refunds this year, an average of $250 per month. What would you do with an extra $250 per month?

The Top 10 Cities In Which To Raise A Family

Kevin — Wed, 11 Apr 2012 12:45:00 +0000

Looking for a great place to raise a family? Forbes Magazine has a list that may help you.

Homes Get More Affordable On March Jobs Data

Kevin — Tue, 10 Apr 2012 12:45:00 +0000

Last Friday, in its Non-Farm Payrolls report for the month of March, the Bureau of Labor Statistics announced 120,000 net new jobs created, plus combined revisions in the January and February reports of +4,000 jobs.

What’s Ahead For Mortgage Rates This Week : April 9, 2012

Kevin — Mon, 09 Apr 2012 12:45:00 +0000

In a week of up-and-down trading, mortgage markets improved for the second consecutive week last week.

Jobs Report Due Friday; Mortgage Rates Expected To Change

Kevin — Thu, 05 Apr 2012 12:45:00 +0000

If you're out shopping for a home this week, or trying to lock a mortgage rate, with Friday comes home affordability risk. Consider locking your mortgage rate today.

Fed Minutes Causes Mortgage Rates To Rise Suddenly

Kevin — Wed, 04 Apr 2012 12:45:00 +0000

The Federal Reserve has released the minutes from its last FOMC meeting. Mortgage rates are rising on the news.

FHA Mortgage Insurance Premiums Increasing April 9, 2012

Kevin — Tue, 03 Apr 2012 12:45:00 +0000

Planning to use an FHA-backed mortgage for your next home loan? You might want to get your application in gear today.

What’s Ahead For Mortgage Rates This Week : April 2, 2012

Kevin — Mon, 02 Apr 2012 12:45:00 +0000

Mortgage markets improved last week on renewed concerns of a European debt default, and Federal Reserve rhetoric.

Mortgage Rates Fall Back Below 4%

Kevin — Fri, 30 Mar 2012 12:45:00 +0000

After a brief run-up two weeks ago, mortgage rates are back below 4 percent.

Case-Shiller Shows Uneven Recovery For U.S. Housing

Kevin — Thu, 29 Mar 2012 12:45:00 +0000

Recent data suggests that the U.S. housing market is in recovery, albeit an uneven one.

Pending Home Sales Index Remains Strong Into Spring

Kevin — Wed, 28 Mar 2012 12:45:00 +0000

The housing market took a step back in February, but remains near post-Recession highs.

New Home Sales Slip In February

Kevin — Tue, 27 Mar 2012 12:45:00 +0000

Sales of new homes fell to the lowest levels in four months last month.

What’s Ahead For Mortgage Rates This Week : March 26, 2012

Kevin — Mon, 26 Mar 2012 12:45:00 +0000

Mortgage markets carved out a wide range last week before eventually closing close to unchanged on the week.

Building Permits On The Rise

Kevin — Fri, 23 Mar 2012 12:45:00 +0000

The new construction housing market appears primed for growth.

Existing Home Sales Stay Strong; Spring Season Underway

Kevin — Thu, 22 Mar 2012 12:45:00 +0000

Despite sparse home inventory, the National Association of REALTORS reports that 4.59 million "existing homes" were sold in February on a seasonally-adjusted, annualized basis.

Buyer Foot Traffic Through New Construction Up Nearly Threefold Since 2009

Kevin — Wed, 21 Mar 2012 12:45:00 +0000

Home builder confidence in the newly-built, single-family housing market remains high.

Loans For Underwater Homeowners : HARP 2.0 Now Available

Kevin — Tue, 20 Mar 2012 12:45:00 +0000

The new, revamped HARP program is now available. It was officially released Saturday, March 17, 2012 by Fannie Mae and Freddie Mac.

What’s Ahead For Mortgage Rates This Week : March 19, 2012

Kevin — Mon, 19 Mar 2012 12:45:00 +0000

Mortgage markets worsened last week as the Federal Reserve's Federal Open Market Committee suggested economic recovery may be closer than its originally expected, and that inflation may be a near-term economic concern.

Foreclosure Volume Slated To Rise This Spring

Kevin — Fri, 16 Mar 2012 12:45:00 +0000

After a series of months during which volume was low, foreclosure filings have started to rise again.

Mortgage Rates Climb Sharply After Retail Sales Report

Kevin — Thu, 15 Mar 2012 12:45:00 +0000

The U.S. economy is expanding, fueled by a renewed consumer optimism and increased consumer spending.

A Simple Explanation Of The Federal Reserve Statement (March 13, 2012)

Kevin — Tue, 13 Mar 2012 18:30:00 +0000

Tuesday, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent.

The Fed Meets Today : Protecting Your Housing Payment

Kevin — Tue, 13 Mar 2012 12:45:00 +0000

The Federal Open Market Committee meets today,its second of 8 scheduled meetings this year. As a home buyer or would-be refinancing household, get ready for changing mortgage rates.

What’s Ahead For Mortgage Rates This Week : March 12, 2012

Kevin — Mon, 12 Mar 2012 12:45:00 +0000

Mortgage markets were mostly unchanged last week despite a series of positive developments. In addition to Greece successfully reaching a deal with its private creditors, the U.S. economy turned out strong reports -- most notably the Non-Farm Payrolls report.

FHA Drops Upfront Mortgage Insurance Premium To 0.01% For Qualified Borrowers

Kevin — Fri, 09 Mar 2012 13:45:00 +0000

Beginning mid-June 2012, certain current, FHA-backed homeowners will be able to refinance their existing FHA mortgage into a new one, without having to pay the government-backed group's new, costly mortgage insurance premium schedule.

Mortgage Rates Expected To Rise On A Strong Job Report

Kevin — Thu, 08 Mar 2012 13:45:00 +0000

When jobs come back, analysts say, so does the economy. That should push mortgage rates higher.

Are You Wasting $471 Per Month On Your Mortgage?

Kevin — Wed, 07 Mar 2012 13:45:00 +0000

Mortgage rates are low but can't stay low forever. Here's how you can join the current Refi Boom.

Home Affordability Reaches An All-Time High

Kevin — Tue, 06 Mar 2012 13:45:00 +0000

Home affordability moved higher last quarter, boosted by the lowest mortgage rates in history, a rise in median income, and slow-to-recover home prices.

What’s Ahead For Mortgage Rates This Week : March 5, 2012

Kevin — Mon, 05 Mar 2012 13:45:00 +0000

Mortgage markets worsened last week as the U.S. economy continued to show that it's in recovery, and as Federal Reserve Chairman Ben Bernanke publicly hinted at the same.

FHA To Raise Mortgage Insurance Premiums April 1, 2012

Kevin — Fri, 02 Mar 2012 13:45:00 +0000

Beginning April 1, 2012, the FHA is once again raising its mortgage insurance premiums.

Case-Shiller Index Shows Home Values Rising In Detroit

Kevin — Thu, 01 Mar 2012 13:45:00 +0000

Standard & Poors released its December 2011 Case-Shiller Index this week.

Pending Home Sales Rise To 22-Month High

Kevin — Wed, 29 Feb 2012 13:45:00 +0000

The Pending Home Sales Index resumed its climb in January, posting a 2 percent gain over the month prior.

New Home Supply Falls To 5.6 Months

Kevin — Tue, 28 Feb 2012 13:45:00 +0000

321,000 new homes were sold last month on a seasonally-adjusted, annualized basis. 7 of 10 new homes sold for less than $300,000.

What’s Ahead For Mortgage Rates This Week : February 27, 2012

Kevin — Mon, 27 Feb 2012 13:45:00 +0000

Mortgage markets improved in a holiday-shortened week last week, drawing mortgage rates lower nationwide.

Federal Reserve Wary Of European Spillover

Kevin — Fri, 24 Feb 2012 13:45:00 +0000

The Federal Reserve has released the minutes from its 2-day meeting January 24-25, 2012.

Existing Home Sales Climb To A 20-Month Record

Kevin — Thu, 23 Feb 2012 13:45:00 +0000

January's home resales moved to a 20-month high -- additional evidence that the nation's housing recovery is underway.

Foreclosure Filings Down 19 Percent In One Year

Kevin — Wed, 22 Feb 2012 13:45:00 +0000

Foreclosure filings fell 19 percent last month versus one year ago, says foreclosure-tracking firm RealtyTrac. It's yet one more signal that the U.S. housing market may have already climbed off its bottom.

What’s Ahead For Mortgage Rates This Week : February 21, 2012

Kevin — Tue, 21 Feb 2012 13:45:00 +0000

Mortgage markets worsened last week as the Eurozone moved closer to a bailout agreement with Greece, and the U.S. economy displayed more signs of growth. Mortgage rates climbed.

What’s Ahead For Mortgage Rates This Week : February 21, 2012

Kevin — Tue, 21 Feb 2012 13:45:00 +0000

Mortgage markets worsened last week as the Eurozone moved closer to a bailout agreement with Greece, and the U.S. economy displayed more signs of growth. Mortgage rates climbed.

Housing Starts Stay Strong; Building Permits Rise.

Kevin — Fri, 17 Feb 2012 13:45:00 +0000

The 2012 housing market started like 2011 ended -- strong.

Homebuilder Confidence Returns To Pre-Recession Levels

Kevin — Thu, 16 Feb 2012 13:45:00 +0000

For the sixth straight month, the National Association of Homebuilders reports that homebuilder confidence is on the rise. The Housing Market Index climbed four points to 29 in February, the index's highest reading since May 2007.

With Retail Sales And Consumer Confidence Rising, Home Prices Are Expected To Follow

Kevin — Wed, 15 Feb 2012 13:45:00 +0000

If you have plans to buy a home in 2012, the best time to buy may be now. Today's mortgage rates are low and so are the home prices -- a combination that's unlikely to last.

Fewer Jobless Claims Suggests Higher Home Prices Ahead

Kevin — Tue, 14 Feb 2012 13:45:00 +0000

Economists believe the strength of the 2012 housing market will be closely tied to jobs. If they're right, the housing market is ripe for a boost.

What’s Ahead For Mortgage Rates This Week : February 13, 2012

Kevin — Mon, 13 Feb 2012 13:45:00 +0000

Mortgage markets were mostly unchanged last week as Greece -- once again -- was front-of-mind for Wall Street investors.

What’s Ahead For Mortgage Rates This Week : February 13, 2012

Kevin — Mon, 13 Feb 2012 13:45:00 +0000

Mortgage markets were mostly unchanged last week as Greece -- once again -- was front-of-mind for Wall Street investors.

Revamped HARP : Unlimited Loan-to-Value And Same Great Rates

Kevin — Fri, 10 Feb 2012 13:45:00 +0000

The government's new, revamped HARP program is 6 weeks from release. Homeowners are gearing up to refinance.

Quick Tips : Boost Your Credit Score For Better Mortgage Rates

Kevin — Thu, 09 Feb 2012 13:45:00 +0000

Lenders are reserving lowest rates for the customers with high FICOs. Here's a few ways to improve your credit score quickly.

Federal Tax Deadline Extended To April 17, 2012

Kevin — Wed, 08 Feb 2012 13:45:00 +0000

For the 3rd time in 7 years, your federal income taxes will not be due April 15. They'll be due Tuesday, April 17 instead.

Lock An Instant 13% Savings On Your Monthly Mortgage Payment

Kevin — Tue, 07 Feb 2012 13:45:00 +0000

You could save 13% on your mortgage as compared to one year ago.

What’s Ahead For Mortgage Rates This Week : February 6, 2012

Kevin — Mon, 06 Feb 2012 13:45:00 +0000

Mortgage markets worsened last week as domestic job growth surprised Wall Street and the Eurozone moved yet one more step closer to reaching a lasting Greece sovereign debt solution.

Banks Start To Loosen Up In Underwriting

Kevin — Fri, 03 Feb 2012 13:45:00 +0000

After a half-decade of tightening mortgage guidelines, banks are starting to "loosen up".

Home Affordability Threatened By Friday’s Jobs Report

Kevin — Thu, 02 Feb 2012 13:45:00 +0000

It's a risky time to be without a locked mortgage rate -- especially with the pending release of January's Non-Farm Payrolls report.

Case-Shiller Index Says Detroit And Washington DC Lead The Market

Kevin — Wed, 01 Feb 2012 13:45:00 +0000

According to the Case-Shiller Index, home values fell in 19 of 20 tracked markets in November 2011.

Supply Of New Homes At 6.1 Months Nationwide

Kevin — Tue, 31 Jan 2012 13:45:00 +0000

According to the Census Bureau, the number of new homes sold in December 2011 slipped 2 percent to 307,000 units on a seasonally-adjusted, annualized basis nationwide.

What’s Ahead For Mortgage Rates This Week : January 30, 2012

Kevin — Mon, 30 Jan 2012 13:45:00 +0000

Conforming mortgage rates rallied from Wednesday through Friday's close, ending the week near all-time lows set earlier this year.

Pending Home Sales Index Posts Second Best Month Since April 2010

Kevin — Fri, 27 Jan 2012 13:45:00 +0000

The housing market continues to show signs of improvement, propelled by low home prices and the cheapest mortgage rates of all-time.

A Simple Explanation Of The Federal Reserve Statement (January 25, 2012)

Kevin — Wed, 25 Jan 2012 17:50:00 +0000

Wednesday, the Federal Reserve's Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent.

The Federal Reserve Meets Today : Mortgage Rates Expected To Move

Kevin — Wed, 25 Jan 2012 13:45:00 +0000

The Federal Open Market Committee adjourns from a scheduled 2-day meeting today, its first of 8 scheduled meetings this year.

Existing Home Sales Approach Bull Market Territory

Kevin — Tue, 24 Jan 2012 13:45:00 +0000

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.

What’s Ahead For Mortgage Rates This Week : January 23, 2012

Kevin — Mon, 23 Jan 2012 13:45:00 +0000

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 from one week to the next.

Behind The Housing Starts Headlines, The Story That Matters

Kevin — Fri, 20 Jan 2012 13:45:00 +0000

Single-family housing starts climbed 4 percent last month to 470,000 units on a seasonally-adjusted, annualized basis. This is the highest number of Single-Family Housing Starts since April 2010 -- the last month of last year's home buyer tax credit.

Home Builders See More Sales, Higher Prices Ahead

Kevin — Thu, 19 Jan 2012 13:45:00 +0000

Homebuilder confidence is soaring, reaching levels not seen in more than 4 years.

Foreclosure Filings Fall To 49-Month Low

Kevin — Wed, 18 Jan 2012 13:45:00 +0000

Foreclosure filings are fewer these days, according to foreclosure-tracking firm RealtyTrac.

What’s Ahead For Mortgage Rates : Week Of January 17, 2012

Kevin — Tue, 17 Jan 2012 13:45:00 +0000

According to Freddie Mac's weekly mortgage rate survey, the average 30-year fixed rate mortgage rate fell to 3.89% nationwide. This week, the Eurozone will determine whether rates rise or fall.

Will Home Values Rise This Year?

Kevin — Fri, 13 Jan 2012 13:45:00 +0000

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.

Fed Minutes Show An Improving U.S. Economy Threatened By The Eurozone

Kevin — Thu, 12 Jan 2012 13:45:00 +0000

The Federal Reserve has released the minutes from its most recent Federal Open Market Committee meeting. December's Fed Minutes shows Fed members with a positive, cautious, take on the economy.

Home Affordability Set To Worsen On Thursday’s Retail Sales Data

Kevin — Wed, 11 Jan 2012 13:45:00 +0000

Consumer spending continues to rise nationwide, fueled by jobs growth and a rosier outlook for the U.S. economy. Unfortunately for mortgage rate shoppers, it may also lead to higher mortgage rates later this week.

Lock Your Mortgage Rate : New Loan Fees Expected Within Days

Kevin — Tue, 10 Jan 2012 13:45:00 +0000

Starting soon, nearly all home buyers and refinancing households nationwide will pay higher mortgage loan fees. Congress has made it law.

What’s Ahead For Mortgage Rates This Week : January 9, 2012

Kevin — Mon, 09 Jan 2012 13:45:00 +0000

Mortgage markets improved last week, pushing mortgage rates lower for the second straight week.

Adjustable-Rate Mortgages Are A Relative Bargain Today

Kevin — Fri, 06 Jan 2012 13:45:00 +0000

Adjustable-rate mortgages are a relative bargain as compared to fixed-ones.

Are You Locked ? Friday’s Job Report Will Make Mortgage Rates Move.

Kevin — Thu, 05 Jan 2012 13:45:00 +0000

If you're floating a mortgage rate, or have yet to lock one in, today may be a good day to call your loan officer. Friday morning, the government releases its Non-Farm Payrolls report at 8:30 AM ET.

Housing And Mortgage : The Experts Make Their 2012 Predictions

Kevin — Wed, 04 Jan 2012 13:45:00 +0000

As the new year begins, there are no shortage of stories telling us what to expect in 2012.

What’s Ahead For Mortgage Rates This Week : January 3, 2012

Kevin — Tue, 03 Jan 2012 13:45:00 +0000

Mortgage markets improved last week during a holiday-shortened trading week.

Pending Home Sales Index Rises Back Above 100

Kevin — Fri, 30 Dec 2011 13:45:00 +0000

Low home prices and mortgage rates have combined to push home affordability to record levels nationwide. Home buyers are taking advantage.

Nationally, Home Prices Off 18.3 Percent From April 2007 Peak

Kevin — Thu, 29 Dec 2011 13:45:00 +0000

The government confirms what the private-sector Case-Shiller Index reported yesterday. Nationwide, average home values slipped in October.