For the first time in more than a year, mortgage rates have risen three straight weeks as growing instability over the U.S. economy jittered bond markets. U.S. Treasuries rose from a record low of 1.38% on the benchmark 10-year bond to more than 1.85%.http://www.housingpredictor.com/2012/mortgage-rate-hike.html
After record all-time mortgage rates triggered a refinancing frenzy, applying for lower rate home mortgages dropped like a bomb last week as rates soared to the highest levels in weeks. The Mortgage Bankers Association refinancing index dropped 9% to lead the summer slowdown.http://www.housingpredictor.com/2012/refinancing-bombs.html
New home sales regained all the ground they lost in June, jumping by 13,000 to an annualized rate of 372,000 in July, the Census Bureau and HUD reported Thursday. Economists surveyed by Bloomberg expected the report to show a sales pace of 362,000. Sales for June were revised up to 359,000 from the originally reported 350,000.
Sales of existing homes climbed 2.3% to a seasonally adjusted annual rate of 4.47 million in July, the National Association of Realtors reported Wednesday, coming in roughly in line with the 4.5 million consensus. The median price of existing homes climbed 9.4% year-on-year to $187,300, and inventories rose 1.3% to 2.4 million units, representing 6.4 months of supply. The data was released early after an embargo break by another news organization.
Gilbert rates as Arizona’s best place to live in 2012 according to CNN and Money magazine, which praised the fast-growing community for “shaking off the doldrums of the housing crash and working toward a brighter future.”
Several positive signs show Arizona’s economy is improving, although slowly. Besides the jobless rate, one of the indicators that matters most to consumers is the median home price, which fell 65 percent during the recession and erased much of the accumulated wealth for many Arizona families.http://www.azcentral.com/business/articles/20120808state-economy-improving-slowly.html
The Arizona Regional Multiple Listing Services is acquiring data provider The Information Market. Terms of the deal were not disclosed.
There are some things we tend to take as fundamental truths. Just a few examples might include the law of gravity or how Treasury debt – even in the face of credit downgrades – remains beyond reproach for investors. Or how, given the choice between making safely innocuous remarks and off-the-cuff zingers that land him (and his boss) in hot water, Vice President Joseph Biden will probably choose the latter, if we take one recent gaffe as proof positive of the trend.http://www.dsnews.com/articles/survey-customer-satisfaction-with-real-estate-companies-falls-to-new-low-2012-08-16
MarketWatch, August 9 – Mortgage delinquencies rise
Mortgage delinquencies rose in the second quarter to a seasonally adjusted rate of 7.58% of all mortgages, up from 7.4% in the first quarter, the Mortgage Bankers Association reported Thursday.http://www.marketwatch.com/story/mortgage-delinquencies-rise-2012-08-09-111034114
These are links to just some of the interesting articles we have read about the real estate market recently.The opinions expressed by these experts are not necessarily shared by Arizona Experience Realty.