According to the S&P/Case-Shiller Home Price Indices, home prices grew impressively in January. The 20-city home price index grew by 8.1% from January 2012-January 2013. S&P Dow Jones chairman of the Index Committee David M. Blitzer said, “economic data continue to support the housing recovery.” Blitzer also stated ““single-family home building permits and housing starts posted double-digit year-over-year increases in February 2013. Despite a slight uptick in foreclosure filings, numbers are still down 25 percent year-over-year.” More here
Filed under: Housing Market, Alex Romo, Alex Romo Report, Alexander Romo, business, down payment, economy, fha, Foreclosure, foreclosures, home price index, homes, Real Estate, single family
March 31, 2013 • 12:27 pm
The current United States’ economic outlook has grown this year, and according to the Organization for Economic Cooperation and Development, the economy is expected to grow by 3.5% by the end of the year’s first quarter. The housing market recovery has played a pivotal role in aiding the economy’s growth. The OECD said, “monetary easing appears to be feeding through to the real economy as household consumption has picked up and the housing sector has begun to rebound.” More here
Filed under: Housing Market, Alex Romo, Alexander Romo, business, Chicago, fha, Housing Market, Mortgage, Real Estate, The Federal Savings Bank
February 10, 2013 • 2:48 pm
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Filed under: Housing Market, Alex Romo, Alex Romo Report, Alexander Romo, Chicago, economy, existing home sales, fha, fha mortgage, FHA Refinance, FHA Streamline refinance, fixed rate mortgages, homebuyer tax credit, Housing Market, Morgage Advice, national association of realtors, Pending home sales, Real Estate, residential mortgage, The Federal Savings Bank, year fixed rate mortgages
November 23, 2012 • 3:32 pm
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Filed under: Mortgage Advice, Alex Romo, Alexander Romo, business, Closing costs, credit consultation, economy, fha mortgage, FHA Refinance, FHA Streamline refinance, Housing Market, mortgage lates, No Appraisal, No Income, Real Estate, The Federal Savings Bank
November 10, 2012 • 2:01 pm
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Filed under: Mortgage Advice, Uncategorized, Alex Romo, Chicago Tax Smart Program, home buyer, Home Purchase, Mortgage, Mortgage Credit Certifiate, Tax Smart
November 2, 2012 • 12:59 pm
A true testament to our hard work rebuilding Amercia one home loan at a time! Recently ranked #1. Read more.
Filed under: Housing Market, #1, Alex Romo, Mortgage
October 29, 2012 • 3:25 pm
The National Association of Realtor’s Pending Home Sales Index measures contract signings and is an indicator of future existing-home sales. In September, the index was up 0.3 percent over August and 14.5 percent above last year’s level. It was the 17th consecutive month of year-over-year improvement. Lawrence Yun, NAR’s chief economist, said home contract activity remains at an elevated level when compared to recent years and should continue its upward trend in 2013. Pending home sales were up in every region of the country and are showing double-digit increases over last year in the Northeast, South, and Midwest. According to the NAR, existing-home sales should close 2012 at 4.6 million, which is an increase of 9.0 percent over 2011. More here and here.
Filed under: Housing Market, 6 million, activity, Alex Romo, Alexander Romo, association, business, Chicago, chief economist, contract activity, contract signings, digit increases, economy, existing home sales, Home, home contract, Housing Market, Illinois, index measures, indicator, level, midwest, Mortgage, nar, pending home sales index, percent, Real Estate, realtor, region, Sales, South, The Federal Savings Bank, upward trend, Year
October 15, 2012 • 1:48 pm
According to the Mortgage Bankers Association’s Weekly Applications Survey, refinance application demand slipped 2.0 percent last week but remains near three-year highs. The drop was matched by a 2.0 percent increase in purchase application demand, pushing purchase loan volume to the highest level since June. The Market Composite Index fell 1.2 percent from the previous week. Michael Fratantoni, MBA’s vice president of research and economics, said mortgage rates remain historically low, which benefits both prospective homebuyers and those seeking to refinance. According to the survey, the average contract interest rate on 30-year fixed-rate mortgages with conforming loan balances increased to 3.56 percent from 3.53 percent the week before. The survey covers 75 percent of all U.S. residential mortgage applications and has been conducted weekly since 1990. More here.
Filed under: Housing Market, 30 year fixed rate mortgages, Alex Romo, Alex Romo Report, association, Chicago, drop, fixed rate mortgages, Housing Market, Illinois, interest, level, loan balances, loan volume, Mortgage, mortgage applications, mortgage bankers association, percent, president, prospective homebuyers, purchase, purchase application, Refinance, residential mortgage, The Federal Savings Bank, vice, Year, year fixed rate mortgages
September 20, 2012 • 12:20 pm
Sales of previously owned homes spiked 7.8 percent in August, according to the National Association of Realtors. Total existing-home sales, which include single-family homes, townhomes, condominiums, and co-ops, rose to a seasonally adjusted annual rate of 4.82 million from 4.47 million in July. The gains put sales 9.3 percent higher than year-before levels and mark the sixth-straight month of improvement. Lawrence Yun, NAR’s chief economist, said the housing market is steadily recovering, with consistent increases in sales adding to the evidence that more buyers are taking advantage of excellent housing affordability conditions. The national median existing-home price for all housing types was $187,400 in August, which is 9.5 percent higher than a year ago. At the current sales pace, there was 6.1-month supply of homes available for sale at the end of August. More here and here
Filed under: Housing Market, 19 Months, 30 year fixed rate mortgages, Alex Romo, Association of realtors, Chicago, chief economist, economy, existing home sales, fixed rate mortgages, homebuyer tax credit, Housing Market, Mortgage, national association of home builders, Pending home sales, percent, The Federal Savings Bank, year fixed rate mortgages