Mortgage rates were down across the board this week compared to last week, according to Freddie Mac’s weekly mortgage market survey. After posting a big jump last week, 30-year mortgage rates were back below the 4 percent mark this week, offering another boost in home affordability for buyers.
Americans are prioritizing their debt payments by opting to pay their car loans before mortgages and credit cards, according to an analysis by credit reporting bureau TransUnion.
Construction slowed dramatically in recent years but has been showing signs of picking up in pockets across the country.
A San Antonio, Texas, home owner spray-painted expletive-filled graffiti across his own home, which is prompting outrage among his neighbors about the eyesore.
The Federal Housing Finance Agency is reportedly analyzing the feasibility and cost of principal mortgage reductions for some borrowers under a revamped Home Affordable Modification Program. If the FHFA starts granting mortgage write-downs, it would be viewed as a major reverse of course from an agency that has in the past opposed principal write-downs.
An improving economy is contributing to a gradual rebound in home prices across the country, according to mortgage giant Freddie Mac’s 2012 Economic Outlook report, released Wednesday. But there is still a way to go in the road to recovery for the housing market, the report noted.