Real Estate Blog LA

The borrowing costs required for average mortgage rates rose today, in some cases high enough to nudge the actual interest rate an eighth of a point higher. This is the first time in over a week that we've seen recent rates threatened. Good economic data or news headlines will cause market volatility sufficient to send rates higher.  ...

Average rate on 30-year loan drops to 4.63 pct.; average rate on 15-year falls to 3.82 pct. Fixed mortgage rates have fallen to their lowest levels of the year, giving Americans more incentive to buy homes or refinance their loans. Freddie Mac said Thursday the average rate on the 30-year loan fell to 4.63 percent from 4.71. The average rate on ...

If you have a good job and good credit, the next few months might be a good time to go house hunting. Fence-sitters take the risk that Congress may let a rich tax credit expire, and that interest rates may rise. Buyers and sellers should consider the following factors as they consider jumping into the housing market. -Mortgage rates are ...

This is the best residence in the WestSide's best-selling community - this is progressively coastal living. Residence #421, priced at $749,900, features a wrap-around deck, outdoor and indoor fireplaces, upgraded appliances and flooring. Ocean breezes flow through this 2,102 square foot (including the 712 sq.ft. deck), two-bedroom home. Its ...

Despite some volatile mid-week action, home loan rates closed out the week near the level where they had begun the week.   The supply of unsold homes on the market dropped from the prior reading of 9.8 months down to 9.4 months - which is the best level seen in over a year. With home loan rates still at low levels and homes priced to sell - ...

You can now find me: http://www.twitter.com/Realtor_SoCal Thanks! Tom

Notices of Default, the first step in the foreclosure process, reached a record level – nearly 26 percent higher than the previous historic peak in April 2008. Notices of Trustee sale, which set the auction date and time, rose 82.3 percent from the prior month, though not yet reaching the prior record level set in July 2008. While ...

Auction investment opportunities continue to increase. January brought an unexpected, across the board drop, in the total Notices of Default, Notices of Trustee Sale, and sales at auction, not only from the prior month, but year over year as well. Even after accounting for the fact that January had two fewer days than December, only properties ...

1. Affordability is better than everAccording to the National Association of Realtors' housing affordability index, homes were more affordable in December than at any other point since the group started the index in 1970. The affordability index is a measure of the relationship between home prices, mortgage interest rates and family income. ...

Tax credit offered to new homebuyers Expires June 30, 2009! Who is eligible?First-time homebuyers or any homebuyers who have not owned a principal residence in the last three yearsHow does it work?Eligible purchasers can claim the $7,500 credit on their annual tax return form. · Amount of credit: 10% of cost of home or a maximum of ...