This article from REALTOR.org is a bit obvious. Stress certailny goes along with financial uncertainty. The reason I post it is in hopes someone can tell me how stress is quantified.
High Stress in High-Foreclosure States
People in many parts of the country continue to be stressed over the lousy economy and foreclosures, according to the Associated Press’ monthly analysis of economic stress in more than 3,100 U.S. counties.
(more…)
Comments Off
Declining Inventory Sign of Stabilizing Market
An important reason that the housing market is stabilizing is the reduction in inventory. Current sales and inventories suggest that supply will decline below the pre-2006 levels by the end of 2009.
(more…)
Comments Off
Following is a compilation of interest rate information gathered from different sources. Please consult with a lender or mortgage broker for the latest information. While rate changes may not be significant, they do change from day to day and rates may varry considering income, credit and location. Indicated changes are from one week ago.
NATIONWIDE MORTGAGE LENDING GROUP:30 Yr Fixed Mortgage Rates 4.500% APR=4.743 POINTS=1.990 (unchanged from a week ago).
DIRECT LENDER: 30 Yr Fixed Mortgage Rates 4.375% POINTS=1.798, site built home only (rate up 1/4 and points up significantly).
CONFORMING MORTGAGES: Primary & 2nd homes: 30 year fixed 4.875% (down 0.125), 15 year fixed 4.375% (unchanged).
FHA: 5.00%, 30 yr Fixed, 96.5% loan to value, 660 Minimum Credit Score, maximum loan $417,000 (unchanged). No prepayment penalty and loan is assumable.
VA: 5.25%, 30 yr Fixed, 0% down, maximum loan $417,000 (unchanged).
USDA: 5.25%, 30 yr Fixed, 0% down, with borrower’s income and geographic limitation (unchanged).
Comments Off
