Low Rates, High Obstacles to Refinancing Mortgage

As interest rates have slid over the past couple of years, Gabriel Bousbib of Englewood, N.J., refinanced his 15-year mortgage not once, but twice-cutting his interest rate in two steps from about 4.6 percent to 3.375 percent. He’s one of a number of homeowners who refinanced just a year or two ago, but decided it …

Continue reading ‘Low Rates, High Obstacles to Refinancing Mortgage’ »

Short Sale Delays Drive First-Time Buyers From Market: Survey

Processing delays have taken their toll on first-time homebuyer interest in short sales, according to the latest HousingPulse Tracking Survey released by Campbell Surveys and Inside Mortgage Finance Monday. First-time homebuyers were a part of 39.7 percent of the short sale transactions completed in August, the HousingPulse survey found. That tally marks a three-month slide …

Continue reading ‘Short Sale Delays Drive First-Time Buyers From Market: Survey’ »

August Pending Sales Decline After Spurt in Existing Sales

The National Association of Realtors’ (NAR) Pending Home Sales Index for August was 88.6, which is on par with last year’s pending home sales average for the year, according to NAR’s chief economist, Lawrence Yun. Yun says the index has been moving within a narrow range for the past several months. “There are improving factors, …

Continue reading ‘August Pending Sales Decline After Spurt in Existing Sales’ »

All-cash home sales hit record highs

All-cash home buying is surging across the United States, including in Orange County, as lenders tighten mortgage standards, middle-class buyers are sidelined and investors see opportunity. Nationwide, cash buyers grabbed 33 percent of all used homes sold in February, the National Association of Realtors reported March 21. The figures, based on agent reporting, do not …

Continue reading ‘All-cash home sales hit record highs’ »