Six questions to ask before refinancing

With low mortgage rates creeping up, many homeowners are asking if refinancing is the right choice. Last year refinancing originations nationwide totaled $1.5 trillion.

Full Story: http://www2.realtoractioncenter.com/site/R?i=HhTWoSOL3RVJqnkueFvo8w

Inventory situation improves in June

The overall number of listings on Zillow was down 12.2 percent year-over-year at the start of June, an improvement from the 17.5 percent shortfall recorded in January.

Full Story http://www2.realtoractioncenter.com/site/R?i=FjrZ5J97HYU-a95oXP4S7Q

Nearly 1 million houses float back into positive equity

Approximately 850,000 more residential properties returned to a state of positive equity during the first quarter of 2013, according to the CoreLogic first quarter home equity report.

Full Story  http://www2.realtoractioncenter.com/site/R?i=DTLeLZi2EiVxESTWeTMsVA

Home Builders Building Homes that Young Buyers Want

More than 80 percent of Generation Y home buyers—people born in 1977 or later—said in the National Association of Home Builder’s 2012 consumer preference survey they prefer a highly energy efficient home that results in lower utility bills during the home’s lifetime over a lower-priced home without energy efficient features. Today’s new homes feature ENERGY STAR-rated appliances; windows, doors and insulation that better control the home’s interior climate; and other modern components such as tankless water heaters and HVAC systems that save costs on utility bills.

Full Story: http://www2.realtoractioncenter.com/site/R?i=Kzm6bW4UWghxxxFfvSWq9g

FHFA: Home prices continue to climb

Home prices inched up 1.9 percent in the first quarter compared with the previous quarter, according to the Federal Housing Finance Agency. This is the seventh consecutive quarterly price rise in the purchase-only, seasonally adjusted index.

Full Story: http://www2.realtoractioncenter.com/site/R?i=97RD_p7ZEIUbyFw_2tWmsQ

Housing Recovery Accelerating, As List Price And Inventory Increase

Realtor.com released its April data showing that the U.S. housing market is on its way to a broad-based recovery, an accelerated trend since March.

Full Story: http://news.move.com/index.php?s=11609&item=137188

Building Permits Rise in April

Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,017,000. This is 14.3 percent (±1.0%) above the revised March rate of 890,000 and is 35.8 percent (±1.3%) above the April 2012 estimate of 749,000.
Full Report: http://www.census.gov/construction/nrc/pdf/newresconst.pdf

FHA Mortgage Premium Changes for April 2013

The short version of the announced changes includes a higher MIP, plus a policy change that will require mortgage insurance to be paid for the life of certain FHA home loans. (Some types of refinancing are excluded from the MIP increase.)

According to the FHA official site. “FHA will increase its annual mortgage insurance premium (MIP) for most new mortgages by 10 basis points or by 0.10 percent"

Full Story: http://www.fha.com/fha_article.cfm?id=414

Home prices gain again in February

The Standard & Poor’s/Case-Shiller home price index of 20 American cities rose 0.3 percent in February and was up 9.3 percent compared with February 2012. All of the cities covered by the index have risen year-over-year for two consecutive months.

Full Story: http://www2.realtoractioncenter.com/site/R?i=KP7xsvX9HHSEQKYhZYAQxg

Why rising interest rates could eventually curb price gains

Rising home prices are raising concerns among some housing analysts that prices could again become unaffordable if price gains outpace income growth.

Full Story: http://www2.realtoractioncenter.com/site/R?i=6leFT3VwiNFj_Lul7XF1mw

Selling your home? The cards are in your favor

Selling your home? In most parts of the country, you have finally regained the upper hand.

Full Story: http://www2.realtoractioncenter.com/site/R?i=OUE2MkMJBEbrebADzVNGOg

“Underwater” homes decline nationwide

Roughly 20,000 borrowers escaped their “negative equity” positions during the final three months of last year, CoreLogic reported.

Full Story: http://www2.realtoractioncenter.com/site/R?i=MZGNEN7CGms1hjFJcADCxw

Residential construction spending rises in February

The U.S. Census Bureau of the Dept. of Commerce announced this week that construction spending during February 2013 was estimated at a seasonally adjusted annual rate of $885.1 billion, 1.2 percent above the revised January estimate of $874.8 billion. The February figure is 7.9 percent above the February 2012 estimate of $820.7 billion.

Full Story: http://www2.realtoractioncenter.com/site/R?i=34ftQ9xnF20l_aFxJo-w9Q

CoreLogic reports home prices rose in February

CoreLogic’s February CoreLogic HPI® report shows that home prices increased 10.2 percent year over years in February, representing the biggest year-to-year increase since March 2006. On a month-over-month basis, including distressed sales, home prices increased by 0.5 percent in February 2013 compared with January 2013.

Full Story: http://www2.realtoractioncenter.com/site/R?i=ZBxExMtW0-r8HLHYykGiuA

When prices of homes with pools take a dip

In the winter, the water doesn’t look so appealing, so potential buyers are less likely to shell out extra bucks for a swimming pool.

Their findings, "Projection Bias in the Car and Housing Markets," were published in June by the National Bureau of Economic Research. Their research falls into the broader category of behavioral economics, giving insights into the psychology of spending, such as why some people spend more money at the grocery store when they're hungry.

Full Story: http://www2.realtoractioncenter.com/site/R?i=BOVJO8jroIdaQ5sFslOIsA