Tag Archives: alternative investment brian davison

Wars in the U.S. Housing Market? Bidding Wars That Is…
Mortgage applications for U.S. home purchases have tumbled 17 percent since May on a seasonally adjusted basis and are down 6.9 percent from the same time a year ago. Capital Economics Ltd. last month lowered its 2014 home-sales forecast to 5.2 million from 5.4 million after U.S. pending residential sales for September that slumped 5.6 percent, the fourth straight monthly decline. The firm predicts prices will rise 4 percent next year, half of this year’s projected gain. “We are shifting from a frenzy to where buyers are taking a step back and being more analytical and unwilling to just make rash decisions,” said Ellen Haberle, an economist for Seattle-based brokerage Redfin. Asking prices in September were lowered on about 25 percent of listings, the biggest share in two years, while last month they were cut on 23.8 percent, according Redfin, which tracks 22 cities across the country. The inventory of unsold...
Mortgage Applications Continue to Fall
Business Insider reports that mortgage applications, for the week ending November 9, 2013, fell 1.8%, on the heels of a 2.8% decline the week before. Also, the purchase index was down 1% for the week ending Nov. 9, compared to a drop of 5% the week prior. A similar trend was seen in the refinance market with that index dropping 2% during the week ending Nov. 9, a noticeably smaller decline than the 8% drop the week before. According to Freddie Mac, an organization chartered by Congress in 1970 which is designed to provide liquidity in the mortgage markets by purchasing qualifying mortgages from lenders, the 30-year fixed mortgage rate remained relatively unchanged at 4.16% for the week ending, down from a recent two-year high of 4.58%. However, in the following week ending November 14, rates took a significant one-week jump to 4.35%. Rates across the...