Michael Haigh's (mhaigh) Blog

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Mortgage and Lending - W J Bradley / The Michael Haigh Team

ARCHIVED BLOG POSTS

2012 

The housing market took a breather in April. After forging past its benchmark value of 100 in March, April's Pending Home Sales Index dropped back to 95.5, its lowest reading of the year. The data suggests fewer home resales throughout California and nationwide in the months ahead. A "pending hom...
05/31/2012
Foreclosures filings fell 5 percent between March and April of this year, and by 11 percent as compared to one year ago. The data comes from RealtyTrac. The foreclosure-tracking firm tallied fewer than 189,000 foreclosure-related actions last month -- the fewest number since July 2007. Rapidly-d...
05/30/2012
Mortgage markets worsened slightly last week as demand for mortgage-backed bonds slacked. There was little surprise in U.S. economic data and the unfolding story lines of the Eurozone continued unabated. Mortgage rates in California worsened slightly on the news, climbing for the first time in tw...
05/29/2012
For the fifth consecutive week, conforming 30-year fixed rate mortgage rates have dropped to new all-time lows. According to this week's Primary Mortgage Market Survey from Freddie Mac, "prime" mortgage applicants willing to pay 0.8 discount points plus closing costs can secure a mortgage rate of...
05/25/2012
The April New Home Sales report suggests that the market for newly-built homes is as strong as the market for existing ones.  According to the U.S. Census Bureau, the number of new homes sold rose 3.3 percent in April to a seasonally-adjusted, annualized 343,000 units sold -- its second-highest r...
05/24/2012
Low mortgage rates are helping to make homes more affordable. It appears home buyers have taken notice. According to the National Association of REALTORS®, Existing Home Sales rose 3.4% in April from the month prior, registering 4.62 million homes sold on a seasonally-adjusted, annualized basis. ...
05/23/2012
Falling mortgage rates and stagnant home prices are making a positive effect on home affordability nationwide. Never before in recorded history have so many homes been affordable to households earning a moderate annual income. Last week, the National Association of Home Builders reported the Home...
05/22/2012
Mortgage bonds improved last week on lingering concerns for the European Union, plus weaker-than-expected economic data here at home. Global investors were net buyers of mortgage-backed securities last week, pushing mortgage rates lower nationwide. According to Freddie Mac's mortgage rate survey,...
05/22/2012
The Federal Open Market Committee released its April 2012 meeting minutes this week, revealing a Federal Reserve in the ready in the event additional monetary stimulus is needed. The Fed Minutes function much like the minutes from a business meeting; or, condominium association meeting, for examp...
05/18/2012
Home affordability is receiving a boost from across the Atlantic Ocean this spring. For the third time in as many years, a weakening Eurozone is pushing May mortgage rates to new lows nationwide. The story centers in Greece and begins in 2010. 2 years ago, it was uncovered that successive Greece ...
05/15/2012
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