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Weekly Primary Mortgage Rates – April 26, 2012

April 26, 2012 Leave a comment
Regional Breakdown 30-Yr FRM 15-Yr FRM 5/1-Yr ARM 1-Yr ARM
Average Rates 3.88% 3.12% 2.85% 2.74%
Fees & Points 0.7 0.6 0.6 0.6
Margin N/A N/A 2.74 2.76
From Freddie Mac.
Dave & David Warner
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Weekly Primary Mortgage Rates – March 8, 2012

March 8, 2012 Leave a comment
Regional Breakdown 30-Yr FRM 15-Yr FRM 5/1-Yr ARM 1-Yr ARM
Average Rates 3.88% 3.13% 2.81% 2.71%
Fees & Points 0.8 0.8 0.7 0.6
Margin N/A N/A 2.74 2.76

From Freddie Mac

Dave & David Warner

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Home Sales Increase Across the Country

November 29, 2011 Leave a comment

We’ve just come off a weekend with positive retail news and our friends at Keeping Current Matters bring us a report by the National Association of Realtors that casts a positive signal for Real Estate…Home Sales Increase Across the Country.

The National Association of Realtors recently released their 2011 3rd Quarter Housing Report. In the report, they showed that combined sales of single family homes, condos and co-ops increased in EVERY state as compared to the 3rd quarter of last year. Here are the state-by-state numbers.

The next time someone says houses aren’t selling, ask them which state they live in and show them the chart.

Dave & David Warner

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Just Listed – Laguna Woods

November 14, 2011 Leave a comment

Click here to see the Laguna Woods  Flyer

Click here for  your  Search MLS

Dave & David Warner
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Summary of Weekly Mortgage Rates – September 15, 2011

September 15, 2011 Leave a comment
Regional Breakdown 30-Yr FRM 15-Yr FRM 5/1-Yr ARM 1-Yr ARM
Average Rates 4.09 % 3.30% 2.99 % 2.81 %
Fees & Points 0.7 0.6 0.6 0.6
Margin N/A N/A 2.74 2.76

 

From Freddie Mac

Dave & David Warner

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Downpayment Sources For Recent Home Buyers, 2005-2010

September 7, 2011 Leave a comment
  • Home buyers are asked the source of the downpayment for their recent home purchase in the Profile of Home Buyers and Sellers.  The most common source for downpayments has consistently been savings for the last five years, however this has risen in prominence recently. In 2010, 66 percent of recent home buyers used savings for the downpayment on their home purchase, up from 50 percent of buyers in 2005.
  • Proceeds from the sale of a primary residence has decreased as a downpayment source, not only among all buyers (43 percent in 2005 to 22 percent in 2010), but also among repeat buyers (66 percent in 2005 to 43 percent in 2010).
  • Receiving a gift from a friend or relative has increased among all buyers as a source of downpayments, from a low of 9 percent in 2006 to a high of 18 percent in 2010. This source is most common among first-time buyers—27 percent of first-time home buyers used this in 2010.
  • Loans from financial institutions other than for a mortgage were more common in 2005 with 6 percent of buyers using them, compared to just 1 percent in 2010.
  • Click here for more information about the Profile of Home Buyers and Sellers.

Capture

Thank you , NAR  http://economistsoutlook.blogs.realtor.org/

 

 

Dave & David Warner

 
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Pending Home Sales Slip in July but up Strongly from One Year Ago

August 31, 2011 Leave a comment
 

 

Pending home sales declined in July but remain well above year-ago levels, according to the National Association of REALTORS®. All regions show monthly declines except for the West, which continues to show the highest level of sales contract activity.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, slipped 1.3 percent to 89.7 in July from 90.9 in June but is 14.4 percent above the 78.4 index in July 2010. The data reflects contracts but not closings.

Lawrence Yun, NAR chief economist, says sales activity is underperforming. “The market can easily move into a healthy expansion if mortgage underwriting standards return to normalcy,” he says. “We also need to be mindful that not all sales contracts are leading to closed existing-home sales. Other market frictions need to be addressed, such as assuring that proper comparables are used in appraisal valuations, and streamlining the short sales process.”

The PHSI in the Northeast declined 2.0 percent to 67.5 in July but is 9.7 percent above July 2010. In the Midwest the index slipped 0.8 percent to 79.1 in July but is 18.8 percent above a year ago. Pending home sales in the South fell 4.8 percent to an index of 94.4 but are 9.5 percent higher than July 2010. In the West the index rose 3.6 percent to 110.8 in July and is 20.6 percent above a year ago.

“Looking at pending home sales over a longer span, contract activity over the past three months is fairly comparable to the first three months of the year, and well above the low seen in April,” Yun says. “The underlying factors for improving sales are developing, such as rising rents, record high affordability conditions and investors buying real estate as a future inflation hedge. It is now a question of lending standards and consumers having the necessary confidence to enter the market.”

Dave & David Warner
 

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