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August 31, 2005

Mortgage Applications Down

The pace of mortgage applications slowed for the second consecutive week even as mortgage rates fell in August, according to the latest report by the Mortgage Bankers Association. The data comes a week after the National Association of Realtors showed that existing home sales have slowed and the Commerce Department indicated that while new home sales jumped in July, the median sales price of new homes fell for the third straight month. The reports suggest there could be some cooling in the otherwise robust housing market. More on Money Magazine.

Posted by QiRealtyEditor at 02:06 PM | Comments (0)

Least Overprice Housing Market

Attention bargain hunters! If you want to buy in the most underpriced housing markets in the country, go southwest young man. Housing market remain hot or not? Where is the hardest hit? How hard will it hit? etc. Full article on Money

Posted by QiRealtyEditor at 01:59 PM | Comments (0)

August 29, 2005

Why use a mortgage broker?

What a Mortgage Broker Does? Why Go to a Broker? What a Borrower Should Know? How the Broker Makes Money? How to Prevent Hidden Charges? The full article will be available on the Web for a limited time:
(c) 2005 Charlotte.com and wire service sources. All Rights Reserved.

Posted by QiRealtyEditor at 09:53 AM | Comments (0)

August 27, 2005

Picking mortgage is part of overall financial plan

Picking mortgage is part of overall financial planSo you're ready to buy a home. Let's focus on first things first: Be sure that you have a good overview of your financial health -- and don't think of your mortgage separately.
The full article will be available on the Web for a limited time: (c) 2005 MercuryNews.com and wire service sources. All Rights Reserved.

Posted by QiRealtyEditor at 07:35 PM | Comments (0)

CALIFORNIANS SPEND HIGHER PROPORTION OF INCOME ON HOUSING

In California, more than 40 percent of households with mortgages spend more than 30 percent of their incomes on housing costs, a higher share than in any other state, according to a recent study by the Public Policy Institute of California. Titled "California's Newest Homeowners: Affording the Unaffordable", the report examines the state's latest trends in homeownership as well as the characteristics of homebuyers. In addition to higher loan-to-income ratios, many Californians have migrated to lower-cost inland areas.

Though the U.S. Dept. of Housing and Urban Development recommends that a household spend no more than 30 percent of its income on housing costs, approximately 50 percent of recent homebuyers in the Golden State exceed this threshold and 20 percent of recent homebuyers pay more than half of their income on housing costs, according to the study. Among the state's recent homeowners with low or moderate incomes, one-third spend more than 50 percent on housing. Full Report

Posted by QiRealtyEditor at 07:19 PM | Comments (0)

BUILDER CONFIDENCE DECLINES IN AUGUST

The high cost of land, a shortage of lots for homebuilding and rising mortgage rates all contributed to a decline in the confidence level of the nation's homebuilders this month, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Following July's reading of 70, the seasonally adjusted HMI decreased three points to 67 in August. The HMI has remained within a 67 to 72 confidence range since April 2004; an HMI above 50 indicates that more builders view sales conditions as good versus poor.

Two of the HMI's three components decreased in August. The component measuring current sales fell four points to 72, while the confidence gauge for the traffic of prospective buyers declined five points to 50. The component measuring future sales remained unchanged at 77. Regionally, homebuilders in the West remain the most confident, with an overall seasonally adjusted HMI of 85. News Details

Posted by QiRealtyEditor at 07:12 PM | Comments (0)