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U.S. mortgage rates dropped to a record low, the first decline in a month, as the Federal Reserve began a program to buy Treasury bonds to support the economy. The rate for a 30-year fixed loan fell to 4.17 percent in the week ended today from 4.24 percent, Freddie Mac said in a statement. That was the lowest level in the McLean, Virginia- based mortgage-finance company’s records dating to 1971. The average 15-year rate declined to 3.57 percent from 3.63 percent. The Fed announced last week... Read Full Story
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The nation's homeownership rate is at the lowest level in more than a decade, hampered by a rise in foreclosures and weak demand for housing.
The percentage of households that owned their homes was unchanged at 66.9 percent in the July-September quarter, the Census Bureau said Tuesday. That's the same as the April-June quarter.
The last time the rate was lower was in 1999, when the rate was 66.7 percent.
The nation's homeownership rate was around 64 percent from 1985 through 1995. It... Read Full Story
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Alabama ranked in the top 10 nationally in terms of business climate, according to Site Selection magazine. The magazine's annual ranking said Alabama had the 10th best business climate for 2010. The rankings are based in part on a survey of corporate site seekers and take into account workforce skills, tax systems and transportation infrastructure, among other factors. North Carolina earned the top spot on the list.
Read more: Alabama ranks 10th for biz climate | Birmingham Business... Read Full Story
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Although U.S. new home sales rose a better-than-expected 6.6% in September to a 307,000-unit annual rate, sales are still well below the level typically seen in a healthy housing market. A Bloomberg survey had forecast new home sales would rise to a 300,000-unit annual pace in September. New homes sales totaled a revised 288,000-unit rate in August, and 285,000 in July. The all-time low annual rate -- 282,000 -- was set in May. New home sales are now down 21.4% in the past year, compared to... Read Full Story
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Sales of previously owned homes rose in September, but remained at subdued levels that did little to undermine the case for additional monetary stimulus next week from the Federal Reserve.
Existing home sales increased for a second straight month, rising 10 percent from August to an annual rate of 4.53 million units, the National Association of Realtors said on Monday.
Although the increase far exceeded economists' expectations for a 4 percent rise to a 4.30 million-unit pace, they... Read Full Story
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New construction on U.S. housing units inched up in September, the third straight monthly increase and a sign the housing sector may be stabilizing after the removal of government stimulus, Commerce Department data showed Tuesday. Starts rose 0.3 percent last month to a seasonally adjusted 610,000 annualized units. August starts were revised higher as well, to a 608,000-unit pace from the 598,000 reported earlier. Housing starts remain well above the 544,000 average of June and July. Some... Read Full Story
| From : mobilerealtoreality.com
Published to Kansas real estate
he number of sales rose by 3.67 percent to 254 in September. However, the average sale price decreased from $135,504 to $124,697. Sales fell from 69 to 63 in the $100,000-$149,999 range. Two sales occurred over $500,000 compared to four sales in September, 2009, and four in September, 2007. The highest volume of sales was 109 in the $0-$99,999 bracket, which showed an increase from 98 in August. The median sale price fell to $114,150 in September from $117,000 in August, 2010. The Mobile... Read Full Story
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NAR is pleased to report that Congress has unanimously approved a one year extension, until September 30, 2011 for the National Flood Insurance Program (NFIP). A long-term extension has been a top legislative priority for NAR. Earlier in 2010 the NFIP lapsed, causing major disruptions for REALTORS, and with the September 30, 2010 deadline fast approaching NAR redoubled its efforts to extend the program. REALTOR advocacy efforts helped make the long-term extension a reality. When Congress... Read Full Story
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Published to Kansas real estate
According to the most recent report from the University of South Alabama,
The number of sales fell by 12 percent to 242 in August. The average sale price also decreased from $145,490 to $136,202. The number of sales dropped or held constant in every price range. Sales dropped from 32 to 26 in the $200,000-$299,999 range. Three sales occurred over $500,000 compared to six sales in August, 2009, and nine in August, 2007. The highest volume of sales was 97 in the $0-$99,999 bracket which still... Read Full Story
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Click here to watch the video presented last week at the annual Downtown Alliance luncheon. Read Full Story
