July 2009 - Posts
Home mortgage rates remained nearly unchanged from last week as investors weigh better-than-expected corporate earnings against the record volume of debt the government is selling. The average 30-year fixed mortgage edged up to 5.56% from 5.55% the week
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Sales of newly constructed single family homes spiked 11% in June to an annualized rate of 384,000 homes. The gain over May was much greater than expected and housing industry analysts had only forecasted seasonally adjusted sales of 352,000. Builders
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The National Association of Realtors reports that sales of previously occupied homes rose for the third month in a row in June, which hasn't happened since early 2004, during the housing boom years. The Dow Jones industrial average reacted to the
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The House Appropriations Committee approved an extension of the $729,750 loan limits for Fannie Mae, Freddie Mac, and Federal Housing Administration financing in high-cost areas through September 2010. Without this extension, the loan limits revert at
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Rates on 30-year fixed mortgages fell to 5.14 percent, down from 5.20 percent a week before and 6.26 percent a year earlier, according to Freddie Mac. Interest on fixed home loans has fallen in four of the past five weeks. Rate activity during that time
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San Diego County's median home price rose for the third consecutive month in June, hitting $314,250, the highest figure since October, raising hopes that the ailing housing market finally may be on the mend. Market fears delayed purchases during the
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It’s still difficult for buyers to get jumbo mortgages, but it appears to be easier than it was six months ago. Bank of America, Wells Fargo, and JPMorgan Chase & Co. are cutting rates somewhat, buying jumbo loans made by other lenders and purchasing
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Interest on 30-year fixed mortgages, 15-year fixed loans, five-year adjustable-rate mortgages, and one-year ARMs all fell this week. - The average on 30-year financing slipped to 5.2 percent from 5.32 percent a week ago. - The 15-year mortgage declined
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Home mortgage rates retreated lower with the 30-year fixed slipping to 5.7% from 5.8% the week prior. The average 15-year mortgage rate also fell, dipping to 5.07% from 5.16%. Mortgage rates fell to month-ago levels as evidence mounts of continued economic
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National home sales continued an upward swing in May, according to a closely watched industry report that rose for the fourth straight month for the first time in nearly 5 years. The Pending Home Sales Index, reported Wednesday by the National Association
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