All entries by this author

Mortgage rates hit decades low of 4.32%

Sep 5th, 2010 | By Gregory Arzumanov | Category: Financial News

Sept. 3, 2010 Mortgage rates fell to the lowest level in decades for the tenth time in 11 weeks, as investors worried about the economy.
The average rate for a 30-year fixed loan was 4.32 percent this week, down from 4.36 percent last week, mortgage buyer Freddie Mac said Thursday. Thats the [...]



Higher closing costs may not be

Sep 2nd, 2010 | By Gregory Arzumanov | Category: Financial News

WASHINGTON Aug. 31, 2010 A new federal rule this year requiring mortgage lenders to give borrowers reliable estimates of closing costs appears to be working whether its also costing borrowers more money is uncertain.
A recent survey by Bankrate.com found that, on average, origination and third-party fees on a [...]



Home prices up 1% in June

Sep 2nd, 2010 | By Gregory Arzumanov | Category: Housing News

U.S. home prices rose in June for the third straight month amid a burst of homebuying due to tax incentives that have since expired.
The Standard & Poors/Case-Shiller 20-city home price index posted a 1 percent increase in June from May and was up 4.2 percent from a year ago. Home prices [...]



Five reasons to buy a home now

Aug 4th, 2010 | By Gregory Arzumanov | Category: Housing News

ORLANDO, Fla. Aug. 4, 2010 The tax credit expired, but its still a great time to buy a home thanks to low mortgage rates and motivated sellers. Here are five reasons why now is a great time to buy:
1. Low mortgage rates serve as an equity shock absorber. When buyers [...]



New law shifts association fees from homeowner to renter

Jul 19th, 2010 | By Gregory Arzumanov | Category: Housing News

PONTE VEDRA BEACH, Fla. July 19, 2010 Under a new Florida law, homeowner association boards can go after renters for association fees when the homeowners fail to pay up.
The law has been attracting attention in Ponte Vedra Beach and elsewhere in the Beaches area because so many housing developments have [...]



Thousands of home sales depend on extension

Jun 17th, 2010 | By Gregory Arzumanov | Category: Housing News

McLEAN, Va. June 17, 2010 Thousands of pending home sales may be in jeopardy unless Congress extends the June 30 deadline for buyers to close on their deals and claim a tax credit.
The Senate on Wednesday approved a three-month extension, giving buyers until Sept. 30 to close, but it’s attached [...]



Mortgage rates drop to lowest level this year

May 19th, 2010 | By Gregory Arzumanov | Category: Financial News

WASHINGTON May 20, 2010 Mortgage rates fell this week to the lowest level of the year, as rates fell on U.S. government securities. Fixed mortgage rates closely track interest rates paid on long-term Treasury bonds.
The average rate on a 30-year fixed rate mortgage dipped to 4.93 percent this week [...]



Fla. foreclosures dropped in April

May 19th, 2010 | By Gregory Arzumanov | Category: South Region

TALLAHASSEE, Fla. May 20, 2010 The number of Florida foreclosures fell in April from a year earlier, mirroring a national trend that indicates a slowing of defaults on mortgages, according to data released Thursday by RealtyTrac. Florida’s foreclosure fell 18 percent from March and was down 25 percent compared to April 2009. [...]



New U.S. home sales jump from record low

Apr 23rd, 2010 | By Gregory Arzumanov | Category: Housing News

WASHINGTON April 23, 2010 Sales of new U.S. homes surged 27 percent last month, bouncing off the previous month’s record low and blowing past expectations as better weather and government incentives boosted sales.
The Commerce Department said Friday that newhome sales rose in March to a seasonally adjusted annual sales [...]



Mortgage rates fall below 5 percent again

Mar 5th, 2010 | By Gregory Arzumanov | Category: Financial News

McLEAN, Va. March 5, 2010 Mortgages rates have dipped below 5 percent again, four weeks before a government program that is helping keep rates low is scheduled to run out.
The average rate on a 30-year fixed rate mortgage was 4.97 percent this week, down from 5.05 percent a week earlier, mortgage finance company [...]