Investment Mortgage Guy

Foreclosures are a big part of the housing market, with distressed properties accounting for 35 percent of all home resales last month, according to the National Association of REALTORS®. But for as common as foreclosures can be, they remain a localized concern.

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After improving 1 percent in August, New Home Sales popped another 7 percent in September. It’s no wonder homebuilder confidence is at a 5-month high.

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The Federal Home Finance Agency’s data showed values up 0.4 percent nationwide, on average. Region-by-region, however, the results were scattered. Coastal states tended to perform poorly. Plains states tended to perform well.

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“Deals” were in ample supply this summer and eager home buyers snatched them up.

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The dollar was strong in the first part of last week, then weakened through Friday’s close with the G-20 meeting looming. Mortgage rates trended along similar lines.

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The rate-and-fee combination you’d get in your home state is different from the rate-and-fee combination you’d get if you lived somewhere else. In the West, rates are low and fees are high; in the Southeast, it’s the opposite.

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The company behind the popular FICO scoring model has published a “What If?” series for common, specific credit missteps.

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According to the Commerce Department, the number of single-family Housing Starts increased to 452,000 units in September, a 19,000 improvement over August.

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According to the NAHB, October’s HMI reading of 16 is its highest value in 5 months. The uptick hints that the market for newly-built homes may rebound more quickly that this summer’s weak new homes sales figures would otherwise suggest.

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The United States is experiencing a Refi Boom. As compared to 6 months ago, a new, $200,000 home loan costs $124 less per month in principal + interest.

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