Wall Street Surprised by Home Sales Decline?
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THOUGHTS & INFORMATION ON THE RALEIGH, WAKE FOREST, ROLESVILLE & WAKE COUNTY REAL ESTATE MARKET & A LITTLE BIT ABOUT LIFE IN THE TRIANGLE!
Sep 26, 2009
Sep 19, 2009
Art Spark in Raleigh this weekend 9/17/ to 9/20
sparkcon this weekend! Come out for a weekend of art during SPARKcon, September 17-20, 2009 on Fayetteville Street. VAE produces artSPARK, which includes street painting, a gallery, a digital gallery and image slam, abstract painting, plein air painting, kidSPARK, an experimental video lounge, and installations in PODS (Portable On-Demand Storage) and on the street! There are over 600 visual artists involved in this year's event. www.sparkcon.com or www.visualartexchange.org/sparkcon2009.php
Sep 1, 2009
Mortgage Applications Fall, Interest Rates Climb
Sparked by a drop in demand for home refinancing loans, mortgage applications fell during the week ending July 24 after having a four-week streak of increases, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. The MBA’s Market Composite Index, which includes both purchase and refinance mortgage applications, dropped 6.3 percent from the previous week to a seasonally adjusted 495.4.
“The rise in interest rates on mortgages is likely going to be accompanied by a rise in inflation and that has historically been good for housing,” said Jeffrey Fisher, a real estate professor at Indiana University’s Kelley School of Business.
Fixed 30-year mortgage rates averaged 5.36 percent, up 0.05 from the previous week, while fixed 15-year rates averaged 4.75 percent, down 0.05 percent from the previous week. Rates for adjustable-rate mortgages increased to 6.66 percent from the previous week’s figure of 6.5 percent.
The MBA’s seasonally adjusted Refinance Index fell 10.9 percent from the previous week to 1,862.1 while the Purchase Index remained unchanged at 262.0. The refinance share of mortgage applications decreased from the previous week’s figure of 55.5 percent to 52.6 percent. The adjustable-rate mortgage share of applications increased to 5.5 percent, up 0.7 percent from the previous week.
Applications for loans to buy homes remained steady. Fisher noted that an unforeseen blow to the economy could hinder the housing market’s recovery. “The economy is recovering, but fragile,” he said. “But as consumer confidence increases and banks start making more loans we should see continued strength in the housing market.” Reposted from: Appraiser News Online Headlines
“The rise in interest rates on mortgages is likely going to be accompanied by a rise in inflation and that has historically been good for housing,” said Jeffrey Fisher, a real estate professor at Indiana University’s Kelley School of Business.
Fixed 30-year mortgage rates averaged 5.36 percent, up 0.05 from the previous week, while fixed 15-year rates averaged 4.75 percent, down 0.05 percent from the previous week. Rates for adjustable-rate mortgages increased to 6.66 percent from the previous week’s figure of 6.5 percent.
The MBA’s seasonally adjusted Refinance Index fell 10.9 percent from the previous week to 1,862.1 while the Purchase Index remained unchanged at 262.0. The refinance share of mortgage applications decreased from the previous week’s figure of 55.5 percent to 52.6 percent. The adjustable-rate mortgage share of applications increased to 5.5 percent, up 0.7 percent from the previous week.
Applications for loans to buy homes remained steady. Fisher noted that an unforeseen blow to the economy could hinder the housing market’s recovery. “The economy is recovering, but fragile,” he said. “But as consumer confidence increases and banks start making more loans we should see continued strength in the housing market.” Reposted from: Appraiser News Online Headlines
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About Me
- Julie Keelan
- Raleigh / Wake Forest, NC, United States
- Julie Keelan is a Broker with the Keelan ~ Page Group at Allen Tate Company in the Triangle Area of North Carolina. The Triangle encompasses: Raleigh, Wake Forest, RTP, Durham, Chapel Hill; her focus is the Raleigh, Wake Forest, Rolesville & surrounding areas. Julie also specializes in Horse Farms and Golf Course homes. Starting in 1996 as a Real Estate Appraiser in Flagstaff, AZ & in 2005 moving to Raleigh, NC getting her Brokers License she has seem many markets. Julie shares her experience and take on what's going on in the Real Estate market in her area and Real Estate in general...there is always something going on! The news is not all bad despite what you hear from the non-stop talking heads on the 24 hour news networks. In today’s market you have to search for professionals that truly know what is going on in your market, always remember REAL ESTATE IS LOCAL! Please contact us if you have any questions or if you would like to talk to us about Buying or Selling we have great tools and marketing plans to get the job done for you. In the mean time I hope to put some light and lite into your day as related to Real Estate. Keep Coming Back!