Month: October 2012

FHFA: House Price Index up 0.7% in August

WASHINGTON – Oct. 24, 2012 – U.S. house prices rose 0.7 percent on a seasonally adjusted basis from July to August, according to the Federal Housing Finance Agency’s monthly House Price Index (HPI). The previously reported 0.2 percent increase in…

Homes are selling faster

WASHINGTON – Oct. 23, 2012 – Inventories of for-sale homes aren’t the only thing dropping. The amount of time homes stay on the market is growing shorter as well – down 11 percent in the last year – according to…

More luxury homebuyers opt for ARMs

NEW YORK – Oct. 23, 2012 – Once blamed as one of the culprits behind the flood of foreclosures in recent years, adjustable-rate mortgages are back and rising in popularity, particularly among luxury homebuyers, The Wall Street Journal reports. ARMs…

Construction in 4 Fla. cities up 9.6%

CHICAGO – Oct. 22, 2012 – For major-metro regions in Florida – Jacksonville, Miami-Fort Lauderdale-Pompano Beach, Orlando-Kissimmee-Sanford, Tallahassee, and Tampa-St. Petersburg-Clearwater – had an increase in actively bid construction projects, according to the third-quarter BidClerk Construction Index (BCI). This increase…

The Fed baits the mortgage hook

WASHINGTON – Oct. 15, 2012 – With the Federal Reserve buying billions of dollars worth of mortgage-backed securities, you might think that mortgage rates are poised to fall even lower than the current rock-bottom levels. Maybe you should wait on…

Home equity payments up – first time since 2007

ATLANTA – Oct. 1, 2012 – Signaling a possible turning point in mortgage demand, home equity installment balances rose 0.3 percent in August – the first monthly increase since November 2007 – according to Equifax’s National Consumer Credit Trends Report.…