Economic News

Economic News The latest interest rates… Monday, November 25 – Market 1   Rates as of November 25, 2013
Economic News Rate of Late Mortgage Payments Hits 5-Year Low By Alex Veiga AOL Real Estate LOS ANGELES — Fewer U.S. homeowners are falling behind on their mortgage payments, aided by rising home values, low interest rates and stable job gains. The trend brought down the national late-payment rate on home loans in the third quarter to a five-year low, credit reporting agency TransUnion said Tuesday. The percentage of mortgage holders at […]
Economic News Where Prices are Headed over the Next 5 Years by The KCM Crew on November 12, 2013 in For Agents Today, many real estate conversations center on housing prices and where they may be headed. That is why we like theHome Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the […]
Economic News King County median home price up 15% over year ago By Sanjay Bhatt Seattle Times business reporter The pattern was repeated in Snohomish and Pierce counties: Median prices were $286,250 in Snohomish and $222,000 in Pierce, with double-digit appreciation over the year, according to the Multiple Listing Service. The median price of single-family homes sold in King County last month rose to $426,000, a 15 percent increase […]
Economic News Buying or Selling: Now May Be the Time by The KCM Crew on October 31, 2013 in For Agents As we enter the winter months, many expect the real estate market to begin to slow down. However, this winter there are many reasons that both buyers and sellers should consider moving forward with their real estate goals instead of waiting until the spring. BUYERS Waiting until the spring […]
Economic News U.S. Mortgage Rates at 4-Month Low Fall for Second Week   Stock Chart for Federal Home Loan Mortgage Corp (FMCC) By Prashant Gopal – Oct 31, 2013 7:00 AM PT, Bloomber.com U.S. mortgage rates dropped for a second week, keeping borrowing costs at a four-month low as theFederal Reserve signaled that it would press on with its stimulus plan aimed at holding rates down. The […]
Economic News Mortgages Swoon to Lowest Level Since June   By Polyana da Costa   Published October 25, 2013 Bankrate.com Mortgage rates tumbled this week as economic data disappointed investors. Concerns about the nation's debt ceiling lingered, even after Congress reached a temporary deal. The benchmark 30-year fixed-rate mortgage fell to 4.27% from 4.42% last week, according to the Bankrate.com national survey of large lenders. […]
Economic News Fannie Mae down payments set to increase   If you hope to secure a loan with a three-percent down payment, please be aware of the following deadlines: •November 15, 2013: You must be pre-approved by this date to take advantage of a three-percent down payment. (Desktop Underwriting approval required.) •November 16, 2013: Fannie Mae minimum down payment increases from three to five […]
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Economic News NAR’s Projections through 2014
Economic News Tighter Rules Will Make It Harder to Get a Reverse Mortgage By TARA SIEGEL BERNARD Published: September 6, 2013  New York Times The spigot on reverse mortgages has been slowly tightened over the last several years. Borrowers can no longer tap as much of their home equity as they could before the housing crisis. Enlarge This Image     Now the rules are about to change again. […]
Economic News The Weekly Economic & Real Estate Forecast – 08/26/13 to 08/30/13 Gardner Economics What I Saw Last Week Existing Home Sales jumped by 6.5% to an annual rate of 5.39M which was above my forecast for a rise to 5.10M. Sales are now at their highest point since November 2009 – when the impending expiration of the homebuyer tax credit pulled forward a large number of […]
Economic News Buying or Selling a Home? Where Are Values Headed? by The KCM Crew on August 12, 2013 ·  Today, many real estate conversations center around housing prices and where they may be headed. Some believe rapidly rising prices have created a new ‘housing bubble’. Others believe that the sudden rise in interest rates will impact purchasing power to such a degree that it will […]
Economic News Sellers Wanted   June 22, 2013 3:53 pm  •  CHRYSTAL CARUTHERS CTW Features   Pent-up housing demand has finally exploded. For sellers who were discouraged months or years ago, is it time to try again? After five years of steady housing market declines, homeowners are finally seeing light at the end of the recession. For many municipalities and metro […]
Economic News 3 reasons why higher mortgage rates won’t slow the housing recovery By Nin-Hai Tseng, WriterJune 20, 2013: 10:36 AM ET CNN Money   History tells us a gradual rise in interest rates won't likely deter homebuyers. FORTUNE – U.S. Federal Reserve Chairman Ben Bernanke's speech Wednesday will likely push mortgage rates higher in the coming months. The central bank isn't going to raise interest rates soon, […]
Economic News Competition among home buyers “still fierce;” rising interest rates adding to fury NWMLS, Kirkland, WA, June 5, 2013 – Well-priced homes continue to draw multiple offers and sell at a brisk pace around Western Washington as buyers react to increases in interest rates and asking prices.  Northwest Multiple Listing Service reported double-digit gains in several key indicators it tracks for the 21 counties in its service area. Compared […]
Economic News Seattle is nation’s 10th-fastest moving residential real estate market May 23, 2013, 5:27am PDT on  Puget Sound Business Journal by Ben Miller Contributing Editor- Puget Sound Business Journal  Email With 47 percent of its homes selling in two weeks or less in April, Seattle is the nation's 10th-fastest-moving real estate market, and the third fastest outside of California. Seattle-based Redfin ranked the nation's top 23 markets in […]
Economic News Snohomish County Real Estate Area 770 – May 2013   I thought you might like to see an update for our area Real Estate Market. Our inventory of available homes is very low and values continue to show increases. Area 770 or NW Snohomish County covers Marysville, Arlington and Stanwood on the west side of Highway 9 to the Skagit County line. Please call […]
Economic News Supply of homes for sale tightens in county   New listings of homes have increased in the county, but eager buyers have kept the inventory low, leading to an increase in average prices and reports of bidding wars. By Kurt Batdorf, The Herald Business Journal     EVERETT — It's 2007 all over again for the county real estate market as antsy buyers […]
Economic News Appraisals Are Challenging in an Appreciating Market by The KCM Crew on October 18, 2012             The real estate market is recovering with prices in most regions of the country showing assorted levels of appreciation. In a market where prices are escalating, the appraiser may find it difficult to find appropriate ‘comps’ for your listing. That can […]
Economic News 3 Reasons to Sell Your House Today! (Part II) by THE KCM CREW on APRIL 9, 2013 This week, we are going to look at the three reasons to sell your house now instead of waiting: demand is strong, supply is low and new construction will soon be your competition. – The KCM Crew Part II – Housing Supply is Low A seller’s ability to sell their home in today’s […]