OfflineIt was a quiet week for meaningful real estate related news. However, there were a couple of stories of interest:
Mortgage Applications Surge
Last week mortgage applications jumped by 23% according to the Mortgage Bankers Association. Of course, record low interest rates are the reason. Last week mortgage rates hit new record lows:
• 30-year fixed rate 3.89%
• 15-year fixed rate 3.16%
82.2% of these mortgage applications were for refinancing, as home buyers are still not in the market at anywhere near historic levels. Some analysts point to this as illustrating that home sales aren’t overly interest rate sensitive. ARMs, Adjustable Rate Mortgages, that are resetting during this period are making borrowers happy. Many are enjoying lower rates after the reset.
HUD Says Bank Deal Near
The U.S. Department of Housing and Urban Development is indicating that the government and banks are very close to reaching a legal settlement in the negotiations over foreclosure abuses. This settlement is expected to fix some of the servicing problems and help around 1 million borrowers believed to have suffered from abusive foreclosure procedures.
I got the 2011 Edge dvd I used the .65 0n the reo. Then you and mat have live
show to change to .7 on Reo. but every one my agent is puting out someone is going higher I bid on a hud sold as is my bid was $78,000 and I would sell it to my buyer
for $84,000 My agent call me someone bid $88,000 The house would sell for
$120,000 if i would $89000 + $6000 for me and coastal-funding and closing
$3600,repairs $12000. that is 8400 profit for the buyer should I change to .74
Thanks Dean
my market has been better than some places, but I heard that Dean said this morning that were at the bottom, and starting to rebound. Wonder how long that will take. Hoping to really get a deal going before the upswing.
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