Mortgage Rates Continue Slow, Steady Improvements
February 23rd, 2012 § Leave a Comment
Mortgages Rates continued to improve at a slow and steady pace. After rising somewhat abruptly into the end of last week and beginning of the current week, rates began to fight back yesterday, but the improvements have been and continue to be relatively minor. This leaves plenty of lenders still best-priced at 4.0%, but with a few more falling back into 3.875% Best-Execution levels today. In short, we’re on the same fence as yesterday, but in a slightly more comfortable position.
We spoke yesterday about the end of the week’s Treasury auction cycle being a net positive for MBS, the Mortgage-Backed Securities that most directly influence mortgage rates. This was indeed the case, but bond markets got an extra lift from the auction itself being extremely well received. This benefits Treasuries more than MBS, but MBS can be thought of as being “along for the ride.”
NAR: Existing Home Sales and Inventories Improved in January
February 22nd, 2012 § Leave a Comment
There was more good news from the National Association of Realtors® (NAR) on Wednesday as they reported that the sales of existing homes rose in January, marking three months out of the last four where sales improved. Inventories of homes for sale were also improved and NAR disputed the need for a program to rent foreclosed properties
Total sales of existing homes including single family houses, condominiums, and cooperative apartments, increased 4.3 percent to an annual, seasonally adjusted rate of 4.57 million units during the month compared to a downward revised rate of 4.38 million in December and are 0.7 percent above what NAR described as a “spike” in the rate in January 2011. December 2011 sales were originally estimated at a rate of 4.61 million.
6 tips for selling in today’s market
February 21st, 2012 § Leave a Comment
Some homeowners have been waiting for years for a better housing market and a good time to sell. Is it better to wait a few more years and see if you can realize a higher sale price, or sell now and move on with your life?
The motivation for selling is a key factor. Are you commuting to work several hours a day and the commute is killing you? Are your children grown and your home is now too big, in addition to being a burden to maintain? Is your home too small? Have you taken a job out of the area? Can you no longer afford to own your home? Or do you no longer want to pay the price it costs to own your home?
OPEN HOUSE! Sunday, February 19, 12:00p-2:00p
February 17th, 2012 § Leave a Comment
OPEN HOUSE Saturday, February 18,11:00a-2:00p
February 17th, 2012 § Leave a Comment
Beauitful Craftsmans Style home in Central location with Updates!
1188 Forest Avenue
Boulder, Colorado 80304
What’s hot and not in home styles this year
February 15th, 2012 § Leave a Comment
Modern gets the thumbs up.
Spa-like and eco-sensitive, the “New American Home 2012” being unveiled in Orlando this week by the National Association of Home Builders in conjunction with the International Builders’ Show, is a warmer take on the classic “White Box” of mid-20th century modern design.
“A lot of people want a spa feeling and a spa look that’s very analogous to modern,” said Luis Juaregui, a Texas-based American Institute of Architects accredited architect. The 4,200 square foot, $3.5 million gray stone and glass home has free flowing entertaining spaces, floor to ceiling sliding glass doors, a stone staircase with open risers, clear glass balustrades and clean geometric lines, tempered by dark wood cabinets, area rugs and soft furnishings.
Local Events!
February 13th, 2012 § Leave a Comment
Enjoy these FREE days at Denver’s greatest attractions
| DENVER ART MUSEUM www.denverartmuseum.org January 7 February 4 March 3 April 7 April 29 May 5 June 2 July 7 August 4 September 1 September 8 October 6 November 3 December 1 |
DENVER BOTANIC GARDENS www.botanicgardens.org February 20 March 27 April 22 July 26 August 28 October 1 November 2
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DENVER MUSEUM OF NATURE & SCIENCE www.dmns.org February 5 February 6 February 16 November 5 November 16 November 28
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DENVER ZOO www.denverzoo.org February 5 February 6 February 16 November 5 November 16 November 28
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NAR: Home Affordability Increases Nationwide
February 9th, 2012 § Leave a Comment
As prices continued to decline during the fourth quarter of 2011 in most metropolitan areas of the U.S., housing affordability rose due not only to the lower prices but also because of record low interest rates. The National Association of Realtors® released its Housing Affordability Index (HAI) including a new annual metro-level housing affordability index which shows historically favorable conditions dominating across the country.
The median price of an existing single-family home rose in 29 out of 149 metropolitan statistical areas (MSAs) in the fourth quarter compared to the fourth quarter of 2010. Prices were unchanged in two MSAs and fell in 118. The national median existing home price was $163,500 in the fourth quarter compared to $170,600 one year earlier, a decrease of 4.2 percent. Distressed homes – foreclosures and short sales – sold for discounts averaging 15 to 20 percent and represented 30 percent of total sales compared to 34 percent during the same quarter of 2010. The median price of a condo was $160,800, down 1.7 percent from one year earlier.
Read More at: http://www.mortgagenewsdaily.com/02092012_home_prices.asp
Find your new home today! http://www.fourstarrealty.com/realestatesales/featured
Refinancing Apps Rise on Record Low Rates
February 8th, 2012 § Leave a Comment
Mortgage rates broke another set of records during the week ended February 3, establishing several new historic lows. In response, the seasonally adjusted Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of mortgage application volume, rose 7.5 percent and 8.7 percent on an unadjusted basis.
The increases were driven solely by refinancing which represented 80.5 percent of total applications for the week, up from 80.0 percent the previous week. The Index measuring applications for refinancing increased 9.4 percent over that of the week ended January 27 but the seasonally adjusted basis the Purchase Index ticked up only 0.1 percent. The unadjusted Purchase Index was 6 percent higher than in the previous week and 4.1 percent lower than during the same week in 2011.
Read the Article: http://www.mortgagenewsdaily.com/02082012_mortgage_applications_survey.asp
Fed to keep rates low until 2014
February 7th, 2012 § Leave a Comment
NEW YORK (CNNMoney) — The economy is improving, the Federal Reserve said Wednesday, but not enough to warrant higher interest rates for at least two-and-a-half more years.
The central bank indicated that it expects to keep the federal funds rate near historic lows until late 2014 — an extension from the Fed’s original pledge to keep rates low through mid 2013.
“[T]he economy has been expanding moderately, notwithstanding some slowing in global growth,” the Fed said in a statement Wednesday. Meanwhile, the program known as Operation Twist remains in place.
