Freddie Mac today released the results of its Primary Mortgage Market Survey® in which the 30-year fixed-rate mortgage(FRM)averaged 4.91 percent with an average 0.7 point for the week ending November 12, 2009, down from last week when it averaged 4.98 percent. Last year at this time, the 30-year FRM averaged 6.14 percent.
The 15-year FRM this week averaged 4.36 percent with an average 0.6 point, down from last week when it averaged 4.40 percent. A year ago at this time, the 15-year FRM averaged 5.81 percent.
The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.29 percent this week, with an average 0.6 point, down from last week when it averaged 4.35 percent. A year ago, the 5-year ARM averaged 5.98 percent.
The one-year Treasury-indexed ARM averaged 4.46 percent this week with an average 0.6 point, down from last week when it averaged 4.47 percent. At this time last year, the 1-year ARM averaged 5.33 percent.
"Mortgage rates eased further over the week, helping to promote an affordable home-purchase market and stimulate refinance," said Frank Nothaft, Freddie Mac vice president and chief economist. "This comes at a time when house price declines are moderating and consumer demand for prime mortgages at commercial banks has picked up."
"The National Association of Realtors® reported that national median sales price of existing homes fell 11.2 percent in the third quarter relative to the same period last year. Moreover, almost 20 percent of the top metropolitan areas experienced positive annual growth, compared to only about 12 percent in the first quarter of this year."
Friday, November 13, 2009
Monday, November 9, 2009
Austin Stats and Some GOOD NEWS!
Good news: Fewer Underwater Mortgages
Fewer people are underwater on their mortgages -- further evidence that the real estate free-fall may be slowing.
Just 21% of all single-family homeowners owe more on their mortgage balances than their homes are worth, according to a third quarter residential real estate report from Zillow.com. That is down from 23% at the end of the second quarter. Why is this great news? Read HERE for further information!
Austin Market Stats: (courtesy of Alamo Title)
The number of active listings are down 11.91% from last year. The number of new listings are down this week by 4.02% (compared to 11/2/08 - 11/8/08).
Pendings are up this week 3.96%.
Sold residential units are up 26.82% compared to the same week last year.
Units for Sale:
Nov. 1 - Nov. 7, 2009
(compared to the same week in 2008)
New listings down this week 4.02%
Pendings are up 3.96%
Solds are up 26.82%
As for Average Prices:
Nov. 1 - Nov. 7, 2009
Sold average sales prices decreased 17.31% to $253,568. In 2008 it was $306,643 for the same week.
Fewer people are underwater on their mortgages -- further evidence that the real estate free-fall may be slowing.
Just 21% of all single-family homeowners owe more on their mortgage balances than their homes are worth, according to a third quarter residential real estate report from Zillow.com. That is down from 23% at the end of the second quarter. Why is this great news? Read HERE for further information!
Austin Market Stats: (courtesy of Alamo Title)
The number of active listings are down 11.91% from last year. The number of new listings are down this week by 4.02% (compared to 11/2/08 - 11/8/08).
Pendings are up this week 3.96%.
Sold residential units are up 26.82% compared to the same week last year.
Units for Sale:
Nov. 1 - Nov. 7, 2009
(compared to the same week in 2008)
New listings down this week 4.02%
Pendings are up 3.96%
Solds are up 26.82%
As for Average Prices:
Nov. 1 - Nov. 7, 2009
Sold average sales prices decreased 17.31% to $253,568. In 2008 it was $306,643 for the same week.
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