Housing affordability rose to a record high during the fourth quarter of 2011, which means a home buyer’s purchasing power is greater than it ever has been before, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.
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Foreclosures ticked up in January nationwide as more banks continued to work through backlogs of defaulting mortgages on their books, RealtyTrac reports.
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Housing starts rose 1.5 percent in January from December, led by a surge in apartment construction, the Commerce Department reported Thursday.
Housing starts in January reached a seasonally annual rate of 699,000 units, reaching its highest level since October 2008.
Housing starts in January reached a seasonally annual rate of 699,000 units, reaching its highest level since October 2008.
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Fixed-mortgage rates continue to hover at record lows, with the 30-year fixed-rate mortgage staying at the record low of 3.87 percent since the first week of February, Freddie Mac reports in its weekly mortgage market survey.
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Ben Bernanke, the Federal Reserve chairman, says keeping interest rates low will spur loan demand and eventually help improve banks’ profitability in the long run, The Wall Street Journal reports.
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ForSaleByOwner.com founder and former chief operating officer Colby Sambrotto made headlines in August 2011 when he hired a real estate broker to sell his Manhattan condo.
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REALTOR® Magazine is seeking candidates for the 2012 Volunteering Works grant and mentoring program, which helps REALTORS® who are are launching a volunteer effort. Don’t miss the Feb. 24 deadline!
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Through the REALTOR Benefits® Program, for a limited time, NAR members can receive exclusive discounts offered only to Lenovo employees on its entire product line, including ThinkPad and IdeaPad notebooks and accessories.
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