by kramoltz@hotmail.com | Feb 28, 2015 | Mortgages + Lending
Mortgage rates in 2010 were the lowest in six decades. Will they stay low, or will they rise, making the purchase of a home more expensive in 2011? In November of 2010, the 4.17% interest rate was the lowest since Freddie Mac began tracking rates in 1971, and the...
by kramoltz@hotmail.com | Feb 28, 2015 | Mortgages + Lending, Real Estate Facts & Figures
First, the good news. Rates on 30 year mortgages matched the lowest level in decades by falling to 4.32%. According to Freddie Mac, this is the lowest rate since 1971. The rate on 15-year fixed loans fell to 3.75%, the lowest since records began in 1991. The 15-year...
by kramoltz@hotmail.com | Feb 28, 2015 | Mortgages + Lending
Short sales are a fact of life in Arizona residential real estate. A short sale is defined as the sale of a property, resulting in a payoff of less than the total amount owed, in lieu of a foreclosure or to permit a sale. If you are the next metro Phoenix homeowner to...
by kramoltz@hotmail.com | Feb 28, 2015 | Foreclosures + Short Sales, Home Buying
The government wants you to buy real estate. As a result, two programs are available to significantly reduce your acquisition costs. So in addition to the low prices, there 2 additional reasons to buy in the Phoenix area right now! But these opportunities expire soon,...
by kramoltz@hotmail.com | Feb 28, 2015 | Foreclosures + Short Sales
In Are Lenders Holding Back REOs, I wrote about the inability of lenders that had completed foreclosures to timely put those homes back on the market. Under ordinary circumstances, a bank will put a “real estate owned” (or REO) home back on the market as soon as...