Marion Skubi

From RealTrends.com:

Index

Pending home sales are continuing an uptrend, with contract activity rising in five out the past six months.  The index rose two percent in December but remains four percent below a year ago.  However, the steady recovery suggests sales activity is very close to a sustainable, healthy volume, which would be in the range of five-and-a-half million sales.

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From RealTrends.com: The pace of new single-family home sales in the U.S. jumped 17.5 percent from a revised 280,000 annual rate in November 2010 to 329,000 in December but remains 7.6 percent below the 356,000 rate in December 2009.

An estimated 321,000 new single-family homes were sold throughout the U.S. in 2010, down 14.2 percent from an estimated 375,000 in 2009 and the lowest level in 47 years.

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From RealTrends.com:RealtyTrac® (www.realtytrac.com <http://www.realtytrac.com/gateway_co.asp?accnt=137300> ), the leading online marketplace for foreclosure properties, today released its 2010 Year-End Metropolitan Foreclosure Market Report, which shows that while foreclosure activity increased from 2009 in 149 of the nation’s 206 metropolitan areas with a population of 200,000 or more, the metro areas with the 10 highest foreclosure rates all posted decreasing foreclosure activity from 2009 and six of the top 10 also posted decreasing foreclosure activity from 2008.

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RISMEDIA, January 28, 2011—California home sales rose in December 2010, posting their highest level since May, according to data from the California Association of REALTORS® (C.A.R.). The statewide median price increased from November, but was down from a year ago.

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From RealTrends.com: Sales of distressed properties surged in December as many banks resumed foreclosures following stoppages in late fall. At the same time, first-time homebuyer activity remained strong as purchasers rushed to close transactions before interest rates rise further. These are two of the major findings of the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.

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From RealTrends.com: Existing-home sales rose sharply in December, when sales increased for the fifth time in the past six months, according to the National Association of REALTORS®.

Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 12.3 percent to a seasonally adjusted annual rate of 5.28 million in December from an upwardly revised 4.70 million in November, but remain 2.9 percent below the 5.44 million pace in December 2009.

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From RealTrends.com: A new national survey conducted last month for Reecon Advisors found that investor confidence in real estate is significantly higher than the stock market despite the two-year drop in property values. The survey was the latest measure of investor perception of the comparative mertis of real estate and stocks as a long term investment and the most recent conducted since the crisis that struck the nation’s financial system last fall.

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From RealTrends.com: McLean, VA – Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®). The survey results showed lower mortgage rates for both long- and short-term rates.

News Facts

30-year fixed-rate mortgage (FRM) averaged 4.77 percent with an average 0.8 point for the week ending January 6, 2011, down from last week when it averaged 4.86 percent. Last year at this time, the 30-year FRM averaged 5.09 percent.

15-year FRM this week averaged 4.13 percent with an average 0.8 point, down from last week when it averaged 4.20 percent. A year ago at this time, the 15-year FRM averaged 4.50 percent

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.75 percent this week, with an average 0.7 point, down from last week when it averaged 3.77 percent. A year ago, the 5-year ARM averaged 4.44 percent.

1-year Treasury-indexed ARM averaged 3.24 percent this week with an average 0.6 point, down from last week when it averaged 3.26 percent. At this time last year, the 1-year ARM averaged 4.31 percent.

Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.

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