Negative equity props up home prices in toughest markets

By
Real Estate Mortgage Broker NMLS 291249

DailyMORTGAGE LOCK ADVISORY 

June 12, 2012, 6:45am PST

Click for Lock Advice Updated Several Times Daily

      

7 day Mortgage Interest Rate lock or Float Advice: LOCK
Mortgage Points based on 3.5% Mortgage Backed Securities are up 0.15 point.


30 Day Mortgage Interest Rate Lock or Float Advice: LOCK.

Rates could easily move higher or lower, but given the nearness to all time lows, there's generally more risk than reward regarding floating so my advice is to lock.

 

MORTGAGE MARKET INDICATORS

National Average Fixed Rate Mortgage 3.75%
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MORTGAGE NEWS BRIEFS
 

CoreLogic: Negative equity props up home prices in toughest markets
The negative equity problem may actually be pushing up home prices at the bottom of some of the hardest-hit housing markets, according to a report from CoreLogic ($17.05 0%). The national supply of unsold homes dropped to 6... Read More Housing Wire 
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Rainmaker
784,856
Jeffrey DiMuria 321.223.6253 www.SouthBrevardBeachHomes.com
www.SouthBrevardBeachHomes.com
Coldwell Banker Sun Land Realty

this is a great point. I do think some people see the market improving and they are less likely to sell (they see the light at the end of the tunnel). I think if you were going to walk away you would probably have done it by now.

That shrinks the pool of homes that can be sold...driving up prices on those that can.

June 12, 2012 07:04 AM
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Rainmaker
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Bill Ladewig

Your FHA Guru - FHA and VA Loans Since 1970
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