Average fixed-rate mortgages moved lower last week, helping to keep buyer activity strong toward the close of the spring home-buying season, Freddie Mac said in its weekly mortgage market survey, released July 9. "Yields on Treasury securities declined this week in response to investor concerns about events in Greece and China," Freddie Mac chief economist Sean Becketti … [Read more...] about Mortgage rates not likely to rise soon, Freddie Mac chief economist says
Real Estate
Pending home sales maintain momentum in May
Pending home sales continued to rise in May and are now at their highest level in over nine years, according to the National Association of Realtors. Gains in the Northeast and West were offset by small decreases in the Midwest and South. The Pending Home Sales Index, a forward-looking indicator based on contract signings, climbed 0.9 percent to 112.6 in May from a slight … [Read more...] about Pending home sales maintain momentum in May
Latest real estate transfers
Real Estate Transfers during the period of May 15 to 30, 2015. Fishers Island 06390 Gerry, withers & Dearbo to Four Winds Fl, LLC, Halcyon Ave., One Family Year-Round Residence, 1.75 Ac., $400,000; on May 29, 2015. Wading River 11792 A. Cox to J. Michel, 123 Oakwood Dr., One Family Year-Round Residence, .42 Ac., $50,000; on May 18, 2015. E. & K. Harry to … [Read more...] about Latest real estate transfers
Existing-home sales bounce back strongly in May
Fueled partly by an increase in the share of sales to first-time buyers, existing-home sales increased in May to their highest pace in nearly six years, according to the National Association of Realtors. Led by the Northeast, all major regions experienced sales increases in May. Total existing-home sales, which are completed transactions that include single-family homes, … [Read more...] about Existing-home sales bounce back strongly in May
More than half of underwater homeowners are nowhere near re-surfacing
The U.S. negative equity rate is dropping, but more than 4 million U.S. homeowners owed the bank at least 20 percent more than their homes were worth, according to the first quarter Zillow Negative Equity Report. That means those homes would have to appreciate at least 20 percent for their owners to have any chance of breaking even on a sale. Home values are forecast to … [Read more...] about More than half of underwater homeowners are nowhere near re-surfacing