News

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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From RealTrends.com: Fiserv, Inc. released an analysis of home price trends in more than 375 U. S. markets based on the Fiserv® Case-Shiller Indexes.

In the second quarter of 2010, U. S. single-family home prices rose an average of 3.6 percent over the year-ago quarter, driven by strong price increases in relatively high-priced markets, such as San Diego, Washington, D.C., and the San Francisco Bay Area.

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From RealTrends.com: RealtyTrac released its U.S. Foreclosure Market Report™ for October 2010, which shows foreclosure filings were reported on 332,172 properties in October, a 4 percent decrease from the previous month and almost exactly the same total reported in October 2009. One in every 389 U.S. housing units received a foreclosure filing during the month.

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From MSNBC.com: September Surge the Biggest Monthly Gain in 28 Years

WASHINGTON — Sales of previously occupied homes jumped 10 percent in September, an industry group said Monday. It was the biggest monthly gain in 28 years.

The monthly gain was bigger than expected, indicating the housing market is stabilizing at weaker levels and continues to struggle.

The National Association of Realtors said sales increased 10 percent from August, rising for a second straight month, to an annual rate of 4.53 million units. August’s sales pace was revised slightly down to a 4.12 million-unit pace.

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August housing sales recover from July dive after expiration of tax credit.

August housing sales declined for the second month in a row with unit sales dropping 13.7 percent from August 2009 according to the REAL Trends Housing Market Report.  While the decline was expected the results beat most forecasts.  The average price of all homes sold increased 5.0% from the average price recorded in 2009.  Total sales volumes decreased 9.4% from the same month a year ago. The August 2010 results were 29.2 percent below the August 2007 results the first year the REAL Trends Housing Market Report was published.

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From RealTrends.com: Nationwide housing starts inched up 1.7 percent to a seasonally adjusted annual rate of 546,000 units in July from a downwardly revised figure in the previous month, according to U.S. Commerce Department figures released today. The gain occurred entirely on the multi-family side, with single-family housing production falling 4.2 percent to 432,000 units.

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