This is the one real estate area that seems to be looking up. There is no question that apartments really scream when it comes to actual performance and renewed investment confidence, says Hessam Nadji, managing director of research and advisory services at Marcus & Millichap. The apartments sector is leading the recovery. Nationally, apartment vacancies declined 20 basis points during the first half to reach 7.8%, setting the stage for rent growth.…
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Added by Your Property Path on December 8, 2010 at 4:23pm —
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Mortgage Bankers Association for the week of 11/24/2010
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…
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Added by Your Property Path on November 26, 2010 at 2:17pm —
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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…
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Added by Your Property Path on November 26, 2010 at 2:16pm —
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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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Added by Your Property Path on November 10, 2010 at 4:02pm —
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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…
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Added by Your Property Path on November 3, 2010 at 3:24pm —
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A Recent Survey
National Real Estate Investor and Marcus & Millichap
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…
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Added by Your Property Path on November 3, 2010 at 3:23pm —
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Mortgage Bankers Association for the week of 09/22/2010
Market Composite Index: (loan application volume) decreased 0.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 0.3 percent compared with the previous week
Refinance Index:… Continue
Added by Your Property Path on October 7, 2010 at 3:53pm —
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Following on the success of the First Look program many larger banks are going to take a page from first look program. Banks will now allow local governments and nonprofits the ability to buy foreclosed homes before they are sold to private investors.
The largest mortgage lenders in the country, including Bank of America Corp. and Wells Fargo have agreed to let the groups purchase the properties ahead of private investors. Neighborhood organizations will have up to 48 hours to…
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Added by Your Property Path on October 5, 2010 at 7:32pm —
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First Look Program
Fannie levels the field
What Is It
Individuals and public entities are given a period of time, generally 15 days after a property is listed at HomePath.com. Homepath is the listing site for about 190,000 properties held by the GSEs. Individuals and public…
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Added by Your Property Path on October 5, 2010 at 7:31pm —
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The coming FHA reforms will help stabilize FHA's financial viability. FHA will be allowed to raise premiums. The cap on the maximum annual FHA insurance premium increases from 0.5% to 1.5% and for loans with high loan To Value ratios, 0.55% to 1.55%. But the real importance is how the reforms will shift liquidity to rental property.
Multi Family
The bill also increases FHA's multifamily loan limits for elevator buildings and buildings in high cost areas, helping lenders…
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Added by Your Property Path on September 19, 2010 at 4:08pm —
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30-year fixed-rate mortgage: Averaged 4.36 percent with an average 0.7 point for the week ending August 26, 2010, down from last week when it averaged 4.42 percent. Last year at this time, the 30-year FRM averaged 5.14 percent.
The 15-year fixed-rate mortgage: Averaged a record low of 3.86 percent with an average 0.6 point, down from last week when it averaged 3.90 percent. A year ago at this time, the 15-year FRM averaged 4.58 percent.
Five-year… Continue
Added by Your Property Path on August 28, 2010 at 2:00pm —
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Mortgage Bankers Association for the week of 08/25/2010
Market Composite Index: (loan application volume) increased 4.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 4.5 percent compared with the previous week.
Refinance Index: increased 5.7 percent from the previous week and is at its highest level since May 1, 2009. The seasonally adjusted Purchase Index…
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Added by Your Property Path on August 28, 2010 at 2:00pm —
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Well, we all have heard the bad news, housing sales down again, hugely - 23% in the quarter. NAR reports that sales are at their lowest since the sales series launched in 1999, and single family sales are at the lowest level since May of 1995. And it doesnt look much better in the near term either. Pending sales, a forward indicator of market activity, dropped 30% based on contracts signed on May and is almost 16% the May 09 numbers.
These reports are always about today. The…
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Added by Your Property Path on August 25, 2010 at 5:36pm —
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Mortgage Bankers Association for the week of 08/11/2010
Market Composite Index: (loan application volume) increased 0.6 percent on a seaso
nally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 0.4 percent compared with the previous week.
Refinance Index: increased 0.6 percent from…
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Added by Your Property Path on August 14, 2010 at 2:07pm —
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30-year fixed-rate mortgage: Averaged 4.44 percent with an average 0.7 point for the week ending August 12, 2010, down from last week when it averaged 4.49 percent. Last year at this time, the 30-year FRM averaged 5.29 percent.
The 15-year fixed-rate mortgage: Averaged a record low of 3.92 percent with an average 0.6 point, down from last week when it averaged 3.95 percent. A year ago at this time, the…
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Added by Your Property Path on August 14, 2010 at 2:07pm —
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June vacancy rates in the largest 64 markets in the country averaged 6.6%, down from 8.2% at the end of 2009, according to MPF Research. We certainly see the increase in rental demand in 2010, and it's been a little more, frankly, than most apartment experts had anticipated," said Mark Obrinsky, chief economist for the National Multi Housing Council.
This may be the brightest sector and only strong story in a dismal market. There is a real…
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Added by Your Property Path on August 11, 2010 at 5:51pm —
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Mortgage Bankers Association for the week of 07/28/2010
Market Composite Index: (loan application volume) increased 1.3 percent on a seasonally adjusted basis from one week earlier.
Refinance Index: increased 1.3 percent from the previous week…
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Added by Your Property Path on August 5, 2010 at 5:41pm —
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30-year fixed-rate mortgage: Averaged 4.49 percent with an average 0.7 point for the week ending August 5, 2010, down from last week when it averaged 4.54 percent. Last year at this time, the 30-year FRM averaged 5.22 percent.
The 15-year fixed-rate mortgage: Averaged a record low of 3.95 percent with an average 0.6 point, down from last week when it averaged 4.00 percent.…
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Added by Your Property Path on August 5, 2010 at 5:41pm —
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30-year fixed-rate mortgage: Averaged 4.54 percent with an average 0.7 point for the week ending July 29, 2010, down from last week when it averaged 4.56 percent. Last year at this time, the 30-year FRM averaged 5.25 percent.
The 15-year fixed-rate mortgage: Averaged a record low of 4.00 percent with an average 0.7 point , down from last week when it averaged 4.03 percent. A year ago at this time, the…
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Added by Your Property Path on July 31, 2010 at 7:47pm —
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Mortgage Bankers Association for the week of 07/28/2010
Market Composite Index: (loan application volume) decreased 4.4 percent on a seasonally adjusted basis from one week earlier
Refinance Index: decreased 5.9 percent from the previous week.…
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Added by Your Property Path on July 31, 2010 at 7:47pm —
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