The Most And Least Expensive Cities In America

Mortgage , ,
The cost of living in America varies widely in different parts of the country. In general, it is less expensive to live in the country than in the cities. However, there are many cities where the cost of living is modest compared to others where the money needed to live there is outrageous in comparison. These rankings came from comparing the monthly cost of renting a one-bedroom apartment, utilities, the price for gasoline, and the cost of groceries. The Ten Lowest-Cost Cities For Renters From Texas and Ohio to New Mexico and Arizona, there are some nice cities in this…
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How Will Coronavirus Impact Our Real Estate Economy?

Real Estate , ,
Without a doubt, the COVID-19 (coronavirus) pandemic has impacted every part of the economy. This is a dangerous virus and has left many parts of the country on lockdown orders to prevent it from spreading rapidly. The question many people are asking is how much the real estate is going to be impacted by the virus as well. People Are Not Looking For Houses One of the biggest impacts of coronavirus is that some people simply aren’t out looking for houses. Stay at home orders and social distancing measures have prevented people from touring homes that they may be interested…
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What’s Ahead For Mortgage Rates This Week – June 11th, 2018

Financial Reports , ,
Last week’s economic reports included analyst assertions that U.S. housing markets are overvalued in over 50 percent of markets. Weekly reports on mortgage rates and first-time jobless claims were also released. CoreLogic: Over Half of Top 50 U.S. Housing Markets Overvalued Rapidly rising home prices are causing some U.S. markets to be overvalued, which means that home prices are higher than a community’s ability to sustain. What goes up must come down in such scenarios, but home prices continue to grow in many areas. While Boston, Massachusetts and San Francisco, California continued to see rapidly rising home prices, analysts said…
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What’s Ahead For Mortgage Rates This Week — July 29, 2013

Housing Analysis , ,
Last week brought a mixed bag of economic news, but most notably, average mortgage rates fell. New home sales surpassed expectations and consumer sentiment rose for July; these readings among others suggest that the economy continued to improve and that consumer confidence in the economy improved as well. Monday: Existing home sales in June were reported at 5.08 million on a seasonally-adjusted annual basis. While this fell short of expectations of 5.25 million existing homes sold, the expectation was based on the original reading of 5.18 million existing homes sold for May; this was later revised to 5.14 million homes…
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What’s Ahead For Mortgage Rates This Week – May 13, 2013

Mortgage Rates , ,
Mortgage rates rose last week with average rates a 30-year fixed rate mortgage rising from last week's 3.35 percent to 3.42 percent with buyers paying all closing costs and 0.7 percent in discount points. Average rates for a 15-year fixed rate mortgage rose from 2.56 percent to 2.61 percent with buyers paying their closing costs and 0.7 percent in discount points. Freddie Mac also reports that average rates for a 5/1 adjustable rate mortgage rose from 2.56 percent last week to 2.58 percent with buyers paying their closing costs and 0.5 percent in discount points.  Here are noteworthy points from…
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What’s Ahead For Mortgage Rates This Week – May 6, 2013

Mortgage Rates , ,
Mortgage rates fell last week and approached or reached record low levels. According to Freddie Mac, the average rate for a 30-year fixed rate mortgage (FRM) fell from 3.40 percent to 3.35 percent. Average rates for a 15-year FRM moved from 2.61percent to 2.56 percent. Average rates for a 5/1 adjustable rate mortgage (ARM) fell to 2.56 from last week's average of 2.58 percent Discount points for last week's mortgage rates ranged from 0.7percent for 30 and 15 year FRM loans to 0.5 percent for a 5/1 ARM. Rock-bottom mortgage rates can offset the impact of rising home prices. Last…
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What’s Ahead For Mortgage Rates This Week – April 29, 2013

Mortgage Rates , ,
Mortgage rates fell again last week and are again near record lows. According to Freddie Mac, the average rate for a 15-year fixed rate mortgage did achieve a record low of 2.61 percent as compared to 3.1 percent one year ago. The average rate for a 30-year fixed rate mortgage fell to 3.40 percent and near the record low of 3.31 percent. Low mortgage rates are helping homeowners with refinancing and are boosting housing markets as more buyers can qualify for mortgage loans. Home Values Continue To Rise Last week's economic news was mixed; The Federal Housing Finance Agency, which…
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What’s Ahead For Mortgage Rates This Week – April 22, 2013

Mortgage Rates , ,
Mortgage rates fell for the third consecutive week. According to Freddie Mac, the average rate for a 30-year fixed rate mortgage fell by two basis points to 3.41 percent as compared to last week's 3.43 percent and 3.90 percent year-over-year. The average rate for a 15-year fixed rate mortgage was 2.64 percent as compared to last week's 2.65 percent and 3.13 percent year-over-year. Falling mortgage rates were attributed to reduced consumer spending. Last week's economic news includes the NAHB Wells Fargo Housing Market Index (HMI), with a reading of 42 for March. This is four points below investor expectations and…
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What’s Ahead For Mortgage Rates This Week – April 15, 2013

Mortgage Rates , ,
Mortgage rates saw little change last week amidst mixed economic news. Treasury auctions held on Tuesday, Wednesday and Thursday saw weak demand; this could have been caused by the FOMC minutes that were released on Wednesday. The minutes indicated that some FOMC members supported ending the current quantitative easing (QE) program within a few months. The Fed is currently purchasing $85 billion monthly in bonds and Mortgage Backed Securities. If the QE program is ended, demands for bonds and MBS will decline, which usually raises mortgage rates. Employment Numbers Show Promise For Housing Market Thursday's jobless claims offered some positive…
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Fed Meeting Minutes Reveal Rising Wealth Among Homeowners

Federal Reserve , ,
The minutes for the Federal Open Market Committee (FOMC) meeting held March 19 and 20 were released on Wednesday April 10, 2013. These periodic meetings by the FOMC cover a wide ranging group of topics that impact the overall economy in the United States. The decisions made and acted upon from the FOMC meetings often sway the real estate and residential financing markets. Some highlights of the recent FOMC minutes for the March meeting include: Jobs and Unemployment Gaining Steam The unemployment rate fell to 7.7 percent in February. While lower than the average unemployment rate for Q4 2012, the…
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