Greenville SC home buyer blog

Greenville, SC Home Buyer's Blog

Small Gains in Real Estate Outlook

July 12th, 2010 8:50 AM

Do we see Small Gains in the Real Estate Outlook.....If you're looking for a useful way to interpret where we're headed with the U.S economy --and housing prospects in particular - consider this viewpoint from Dallas Federal Reserve Bank president Richard Fisher: ClickHeretoViewWebcast

Posted by Keith Clark on July 12th, 2010 8:50 AMPost a Comment (0)

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Homeownership rate fell again

July 29th, 2010 7:06 AM

The homeownership rate fell to a level not seen since 1999 in the second quarter, according to a report from the U.S. Census Bureau and the U.S. Department of Commerce. The rate had previously fallen to 2000 levels in the first quarter. The rate, 66.9 percent, was about 0.2 percentage points lower than the first quarter's rate of 67.1 percent, and about 0.5 percentage points lower than 2009's second-quarter rate, 67.4 percent, the report said. Homeownership peaked in 2004, when it was at 69.2 percent for both the second and fourth quarters.Regionally, the West and the South saw the biggest quarter-over-quarter declines in homeownership, to 61.4 percent from 62.5 percent in the West, and to 69.1 percent from 70 percent in the South. The Midwest had the highest rate and was the only region to see its rate increase in the past year: to 70.8 percent from 70.5 percent. The rate in the Northeast stayed roughly level at 64.2 percent.

Posted by Keith Clark on July 29th, 2010 7:06 AMPost a Comment (0)

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Mortgage Rates tie last week's record low!

July 22nd, 2010 9:24 AM

Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®). 30-Year Mortgage Rates tied last week's record low.

30-year fixed-rate mortgage (FRM) averaged 4.57 percent with an average 0.7 point for the week ending July 15, 2010, unchanged from last week when it averaged 4.57 percent. Last year at this time, the 30-year FRM averaged 5.14 percent. This rate ties the all-time low reached last week in Freddie Mac's 39-year survey.

15-year FRM this week averaged 4.06 percent with an average 0.7 point, down from last week when it averaged 4.07 percent. A year ago at this time, the 15-year FRM averaged 4.63 percent.

Posted by Keith Clark on July 22nd, 2010 9:24 AMPost a Comment (0)

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Mortgage Rates

July 7th, 2010 7:13 AM

30-Year Fixed Mortgage Rates Still at 4.5 %. Conventional 30-year fixed rate mortgages are still at 4.50 % for well-qualified borrowers paying 1 point origination, 15-year financing is available at 4.00%. APR on an FHA mortgage with the same note rate as a conforming loan is a little higher because of MI and other FHA fees. Today's jumbo 30-year fixed mortgage rate is at an all-time record low as well, 5.25%. Call JD at First Palmetto Mortgage to get your Customized Mortgage Solution and call me to take advantage of the market conditions.

Posted by Keith Clark on July 7th, 2010 7:13 AMPost a Comment (0)

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