Ken Rutherford, CRS. Counseling Buyers and Sellers of Residential Real Estate in the Tulsa Metro Area Since 1992, 'KenSellsHomes'
Showing posts with label Real Estate. Show all posts
Showing posts with label Real Estate. Show all posts
Thursday, August 16, 2012
Averages Current Previous Change
Mortgage News Daily updated daily
30 Yr Fixed 3.75 3.69 +0.06
15 Yr Fixed 3.02 2.95 +0.07
FHA 30 Yr 3.68 3.59 +0.09
Jumbo 30 Yr 4.24 4.14 +0.10
5/1 Yr ARM 3.06 2.98 +0.08
Freddie Mac updated weekly
30 Yr Fixed 3.62 3.59 +0.03
15 Yr Fixed 2.88 2.84 +0.04
1 Yr ARM 2.69 2.65 +0.04
5/1 Yr ARM 2.76 2.77 -0.01
FHFA updated monthly
15 Yr Fixed 3.16 3.34 -0.18
30 Yr Fixed 3.88 4.04 -0.16
30 Year Fixed
About These Rates Get This Widget
Mortgage Rates Reach Two-Month Highs. Best-Execution Shifts Higher
Mortgage Rates made an abrupt move higher today, leaving most lenders at their worst levels since early June. Recent momentum has carried rates in a weaker direction despite a relative lack of i...
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Tuesday, July 24, 2012
Home Price Update
BY JANN SWANSON
Home Prices Continue Gradual Rise, but is Calling a Bottom Premature?
Decrease Font SizeTextIncrease Font Size Jul 24 2012, 11:49AM
There was general agreement on the increase in home price levels in May in data released from by two different sources this morning. The Federal Housing Finance Agency's (FHFA) House Price Index (HPI) showed seasonally adjusted home prices up 0.8 percent from April to May and 3.7 percent over the last 12 months while Radar Logic's RPX Composite Price rose 0.7 percent from April and 2.6 percent year-over-year.
On a non-seasonally adjusted basis the HPI was up over 1.5 percent in May. FHFA also revised its previously reported 0.8 percent increase in April down to a 0.7 percent increase. The Index is now 17.0 percent below the peak it hit in April 2007 and is roughly the same as its level in May 2004.
The HPI increased in eight of the nine census divisions with the exception, the West South Central Region (Oklahoma, Arkansas, Texas, Louisiana) declining, off 1.0 percent. The other regional increases ranged from +0.5 in the Middle Atlantic Region (New York, New Jersey, Pennsylvania) to +1.7 in the Pacific division (the coast, Hawaii, Alaska). Eight of the nine census divisions are in positive territory on an annual basis ranging from an increase of 0.5 percent in the Middle Atlantic to 6.3 percent in the Mountain division (Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona, New Mexico. The ninth census division, New England, is unchanged since May 2011.
FHFA's index is calculated using purchase prices of houses with mortgages sold to or guaranteed by Fannie Mae or Freddie Mac while Radar Logic tracks housing prices gathered from public sources.
In analysis accompanying the report, Radar Logic said it views claims that housing prices have bottomed as premature. "Those people looking at current results and calling a bottom are being dangerously short sighted," said Michael Feder, Radar Logic's CEO. "Not only are the immediate signs inconclusive, but the broad dynamics are still quite scary. We think housing is still a short." The company also said that it viewed reports of diminishing supply as "greatly exaggerated."
The RPX Composite price (reported on a per square foot basis) increased $14.27 (8.3 percent) from the beginning of 2012 through May 23, much more than the increases during the same period in 2009, 2010 and 2011, but called the rapid increase thus far in 2012 as "consistent with the hypothesis that mild winter weather temporarily boosted demand." This will be reflected in an earlier seasonal weakness in demand, probably in May or June rather than in the usual July or August timeframe the company said.
Even if the mild winter theory doesn't play out, Radar Logic expects short-term appreciation to short-circuit longer term appreciation and perhaps even trigger further declines. This would occur on the supply side as higher prices provoked both financial institutions and homeowners to put their properties on the market while on the demand side the higher prices may deter investors.
Home Prices Continue Gradual Rise, but is Calling a Bottom Premature?
Decrease Font SizeTextIncrease Font Size Jul 24 2012, 11:49AM
There was general agreement on the increase in home price levels in May in data released from by two different sources this morning. The Federal Housing Finance Agency's (FHFA) House Price Index (HPI) showed seasonally adjusted home prices up 0.8 percent from April to May and 3.7 percent over the last 12 months while Radar Logic's RPX Composite Price rose 0.7 percent from April and 2.6 percent year-over-year.
On a non-seasonally adjusted basis the HPI was up over 1.5 percent in May. FHFA also revised its previously reported 0.8 percent increase in April down to a 0.7 percent increase. The Index is now 17.0 percent below the peak it hit in April 2007 and is roughly the same as its level in May 2004.
The HPI increased in eight of the nine census divisions with the exception, the West South Central Region (Oklahoma, Arkansas, Texas, Louisiana) declining, off 1.0 percent. The other regional increases ranged from +0.5 in the Middle Atlantic Region (New York, New Jersey, Pennsylvania) to +1.7 in the Pacific division (the coast, Hawaii, Alaska). Eight of the nine census divisions are in positive territory on an annual basis ranging from an increase of 0.5 percent in the Middle Atlantic to 6.3 percent in the Mountain division (Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona, New Mexico. The ninth census division, New England, is unchanged since May 2011.
FHFA's index is calculated using purchase prices of houses with mortgages sold to or guaranteed by Fannie Mae or Freddie Mac while Radar Logic tracks housing prices gathered from public sources.
In analysis accompanying the report, Radar Logic said it views claims that housing prices have bottomed as premature. "Those people looking at current results and calling a bottom are being dangerously short sighted," said Michael Feder, Radar Logic's CEO. "Not only are the immediate signs inconclusive, but the broad dynamics are still quite scary. We think housing is still a short." The company also said that it viewed reports of diminishing supply as "greatly exaggerated."
The RPX Composite price (reported on a per square foot basis) increased $14.27 (8.3 percent) from the beginning of 2012 through May 23, much more than the increases during the same period in 2009, 2010 and 2011, but called the rapid increase thus far in 2012 as "consistent with the hypothesis that mild winter weather temporarily boosted demand." This will be reflected in an earlier seasonal weakness in demand, probably in May or June rather than in the usual July or August timeframe the company said.
Even if the mild winter theory doesn't play out, Radar Logic expects short-term appreciation to short-circuit longer term appreciation and perhaps even trigger further declines. This would occur on the supply side as higher prices provoked both financial institutions and homeowners to put their properties on the market while on the demand side the higher prices may deter investors.
Friday, February 10, 2012
11221 S. 107th E. Ave, Bixby, OK. 74008
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Monday, February 16, 2009
American Recovery and Reinvestment Act.
Here is an update on the stimilus bill from Zeke Cancey with Coldwell Banler Mortgage.
Tomorrow President Obama is to sign the American Recovery and Reinvestment Act.
Below is an overview of changes that will effect the First-Time Homebuyer Credit program:
* Credit is 10% of the sales price up to $8,000. This is an increase from the previous maximum of $7,500.
* The repayment period of 15 years will be waived.
* If the home is sold within 3 years though the entire credit will be recaptured.
* The termination deadline will be extended from July 1st to December 1st 2009
* Purchasers can now use a revenue bond financing program (state/local bond program)
Let me know if you have any questions
Zeke
Zeke Chancey
Mortgage Advisor
Coldwell Banker Mortgage
918-260-6915
ezekiel.chancey@mortgagefamily.com
http://zekechancey.coldwellbankermortgage.com/
Tomorrow President Obama is to sign the American Recovery and Reinvestment Act.
Below is an overview of changes that will effect the First-Time Homebuyer Credit program:
* Credit is 10% of the sales price up to $8,000. This is an increase from the previous maximum of $7,500.
* The repayment period of 15 years will be waived.
* If the home is sold within 3 years though the entire credit will be recaptured.
* The termination deadline will be extended from July 1st to December 1st 2009
* Purchasers can now use a revenue bond financing program (state/local bond program)
Let me know if you have any questions
Zeke
Zeke Chancey
Mortgage Advisor
Coldwell Banker Mortgage
918-260-6915
ezekiel.chancey@mortgagefamily.com
http://zekechancey.coldwellbankermortgage.com/
Ken Rutherford,CRS
918-260-9932
Monday, May 5, 2008
Tulsa ranks #6 of 10 most affordable housing markets nationally.
Tulsa Ranks 6th in the 10 Most Affordable Housing Markets Nationwide Tulsa Business Staff 3/12/2008. According to a recent BusinessWeek report, Tulsa ranks sixth in the 10 most affordable U.S. markets, with the 2007 average home sale price of $153,750, while Oklahoma City ranks among the most expensive with a 2007 average home sales price of $193,750.
The information is based on an annual Coldwell Banker Home Price Comparison Index, which is a comparison of homes across the country. The survey evaluates average selling prices in 317 U.S. markets for single-family houses of about 2,220 SF with four bedrooms, two-and-a-half baths, a family room, and a two-car garage. The cumulative average sales price of these subject homes is $422,343, considerably higher than the National Association of Realtors median home price of $218,200 for all existing homes sold in the U.S.
The information is based on an annual Coldwell Banker Home Price Comparison Index, which is a comparison of homes across the country. The survey evaluates average selling prices in 317 U.S. markets for single-family houses of about 2,220 SF with four bedrooms, two-and-a-half baths, a family room, and a two-car garage. The cumulative average sales price of these subject homes is $422,343, considerably higher than the National Association of Realtors median home price of $218,200 for all existing homes sold in the U.S.
The most affordable markets in the country were: Minot, N.D.; Killen, Tex. ($140,310); Arlington, Tex. ($140,975); Grayling, Mich. ($144,250); Topeka, Kan. ($148,050); Canton, Ohio ($148,333); Tulsa, Okla. ($148,575); Billings, Mont. ($150,141); Fort Worth, Tex. ($151,250); and Cadillac, Mich. ($151,530).
KenSellsHomes
Monday, April 28, 2008
Home Price Comparison Index "Click Here"
A really fun Web Site and one of my favorites is the Coldwell Banker Home Price Comparison Index site. Enter the market value of your home. I can help you determine the market value if needed. Then choose 3 markets across the country to compare. It is very interesting to see what your home is worth in California, Florida and other areas. Have Fun!KenSellsHomes
Saturday, March 15, 2008
Click Mortgage Rate Snapshot Here
Here is a quick look at the mortgage rate trends from the past few weeks. Click in the title bar at the top of the page.
When you think real estate think KenSellsHomes.
Kensellshomes@aol.com
918-260-9932
Saturday, February 9, 2008
Spring is Coming
Thinking of buying or selling a home? Now's the time to make your move. Interest rates are great, and there are many great homes available.
KenSellsHomes
Kensellshomes@aol.com
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