Your Property Path's Blog – November 2010 Archive (5)

Market Composite Index: (loan application volume) increased 2.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1.1 percent compared with the previous week.



Refinance Index: decreased 1.0 percent from the previous… Continue

30-year fixed-rate mortgage: Averaged 4.40 percent with an average 0.8 point for the week ending November 24, 2010, up slightly from last week when it averaged 4.39 percent. Last year at this time, the 30-year FRM averaged 4.78 percent.



The 15-year fixed-rate mortgage: Averaged 3.77 percent with an average 0.7 point, up slightly from last week when it averaged 3.76 percent. A… Continue

The Optimists



Bank of America, JP Morgan Chase, Ally Financials GMAC mortgage division and PNC Financial, have all suspended home seizures in all 23 states where courts oversee foreclosures. Bank of America is halting foreclosures in all 50 states to examine its process. Past sales will stand, and if you are not already out of the house.…



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By some authorities, An estimated 5.5 million homeowners facing imminent foreclosure. The Obama Administration has provided some immediate relief with the HEMA program. HEMA will use up to $3 billion TARP to make funds available for unemployed homeowners and those suffering financial distress. Eligibility is designed to help those who have lost their jobs or are in great financial distress for 24 months. The program will offer up to $50,000 at 0% interest for 24 months to help homeowners… Continue

55% of all respondents to the survey believe that now is the time to buy apartments. Owners are beginning to see improvements in vacancy rates and rent rates are rising. We are coming off a low low bottom, but there is… Continue