All entries by this author

Fixed mortgage rates touch new low for 2011

Jun 1st, 2011 | By Gregory Arzumanov | Category: Financial News

Fixed mortgage rates fell this week to the lowest point of the year, offering incentive for homeowners to save money by refinancing their loans.
Freddie Mac said Thursday that the average rate on the 30-year loan fell to 4.61 percent. Thats down from 4.63 percent and the lowest level since mid-December.
The average [...]



Home-price index at lowest point since 2006

May 31st, 2011 | By Gregory Arzumanov | Category: Housing News, South Region

An index of home prices in the United States major metro areas has sunk to its lowest level since the housing bubble burst in late 2006.
Prices fell from February to March in 18 of the metro areas tracked by the Standard & Poors/Case-Shiller 20-city index. And prices in a dozen markets [...]



New-home sales plunged in February to record low

Mar 27th, 2011 | By Gregory Arzumanov | Category: Housing News

New-home sales plunged in February to record low
WASHINGTON (AP) March 23, 2011 Buyers of new homes plunged in February to the fewest on records dating back nearly half a century, a dismal sign for an already-weak housing market.
The Commerce Department says new-home sales fell 16.9 percent last month to a [...]



Rate on 30-year fixed mortgage rises to 4.81%

Mar 27th, 2011 | By Gregory Arzumanov | Category: Financial News

NEW YORK March 25, 2011 Fixed mortgage rates edged up this week, but even 30-year rates below 5 percent have done little to boost home sales.
Freddie Mac said Thursday the average rate on the 30-year fixed mortgage rose to 4.81 percent from 4.76 percent the previous week. It hit a [...]



1 in 5 Canadians interested in buying U.S. property

Mar 27th, 2011 | By Gregory Arzumanov | Category: International Realty

MONTREAL March 25, 2011 A new survey from BMO Bank of Montreal and conducted by Leger Marketing finds that one in five Canadians would now consider purchasing property in the United States. Lower home prices and a strong Canadian dollar have sparked their interest in purchasing U.S. property.
Overall housing [...]



2011 prediction: Slow real estate recovery

Jan 3rd, 2011 | By Gregory Arzumanov | Category: Housing News, South Region

WASHINGTON Jan. 3, 2011 Pending home sales rose again in November, according to the National Association of Realtors, which says a gradual improvement has been the trend for past five months, indicating a gradual recovery into 2011.
The Pending Home Sales Index (PHSI), a forward-looking indicator, rose 3.5 percent to [...]



Average rate on 30-year mortgage up to 4.86%

Jan 3rd, 2011 | By Gregory Arzumanov | Category: Financial News

NEW YORK Jan. 3, 2011 The average rate on 30-year fixed mortgages rose last week to the highest level in seven months, reflecting higher yields on long-term Treasurys.
Freddie Mac said Thursday the rate increased to 4.86 percent from 4.81 percent in the previous week. It hit a 40-year low of [...]



Mortgage brokers charged in $1.8 million scheme

Nov 11th, 2010 | By Gregory Arzumanov | Category: Financial News

JACKSONVILLE, Fla. Nov. 11, 2010 Federal prosecutors charge that a pair of Jacksonville mortgage brokers masterminded a network of schemes that bilked mortgage loan companies out of more than $1.8 million in 13 phony real estate transactions 12 of which involved First Coast homes.
A grand jury indictment filed in [...]



Florida’s existing condo sales up in 3Q 2010

Nov 11th, 2010 | By Gregory Arzumanov | Category: Housing News, South Region

ORLANDO, Fla. Nov. 11, 2010 Sales of existing condominiums in Florida rose 15 percent in third quarter 2010 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors. A total of 16,938 existing condos sold statewide in 3Q 2010; during the same [...]



Fla. sees increase in international buyers

Oct 21st, 2010 | By Gregory Arzumanov | Category: International Realty

ORLANDO, Fla. Sept. 21, 2010 A number of factors contributed to the decline in home sales nationally and in Florida specifically, but the growing importance of foreign homebuyers has offset some of the damage. Roughly two out of every three Realtors in the state had at least one international [...]