Mortgage Rates Decline

The 30-year fixed-rate mortgage averaged 5.03% in the week ended Thursday, down from 5.15% last week, according to Freddie Mac’s weekly survey of conforming mortgage rates. The rate averaged 6.13% a year ago. (Article Published in The Wall Street Journal. Read it here.)

DFW Real Estate Supply and Demand Remains at Equilibrium

Even though the number of February sales of existing homes in DFW was down 28% from the year before, prices remained relatively stable, only losing 2%. Supply remains at 6 months, which is considered to be equilibrium. (Article published in the Dallas Morning News. Read it here.)

Houston Led Nation in Job Creation and Corporate Real Estate Deals for 2008

“With 179 corporate real estate deals last year, the 5.7-million-resident Houston area unseated three-year incumbent Chicago to take home the coveted honor. Texas’ second largest market, Dallas-Fort Worth, finished No. 2 with 156 projects, while Chicago came in third with 138.” (Article Published in Site Selection Magazine. Read it here.)

Job Losses Spring Another Cycle of Forclosures

Nearly 12 percent of US homeowners are are behind on their mortgages or in foreclosure; and among sub-prime borrowers, that number is almost half (48%). This round is being blamed on job losses. On the bright side, there are signs that the damage caused by sub-prime adjustable rate lending is waning. Their 30-day delinquency rate … read more

Builder’s Over-Reaction May Set up Price Spike in Central Texas

Over the last 2 years, builders have put the brakes on new housing starts in response to the mortgage meltdown, but they may have over-shot the mark. They went from building 18,000 new units a year in the Austin/Round-Rock area to only 8,000 this year. At the same time, people continue to flood into Central … read more

Buyers are Finding Bargains in Austin

Low rates and low prices are enticing many Austin buyers to get back in the game. (Article published in the Austin-American Statesman. Read it here.)

New Obama Plan to Refinance up to 9 Million Mortages

The Obama administration on Wednesday kicked off a new program created to help up to 9 million borrowers restructure or refinance their mortgages to avoid foreclosure. Read the Entire Article at the Dallas Business Journal Here

23 February 2009

Bank of America, Wells Fargo Extend Foreclosure Moratoriums

Wells Fargo and Bank of America said Thursday that they would extend their foreclosure moratoriums in the wake of President Obama introducing his plan to help as many as 9 million home owners avoid foreclosure. Read the entire article in the Washington Business Journal Here

Mortgage Rates Fall Again

Freddie Mac reported that the rate for a 30-year fixed rate loan fell to 5.04 percent from 5.16 percent in the previous week, and from 6.04 percent the previous year. Read the entire article in the Washington Business Journal Here.