Foreclosure filings are fewer these days, according to foreclosure-tracking firm RealtyTrac. As a mortgage lender in Sacramento, and living in a state that has been hit hard by massive equity losses, this news is promising.
In December 2011, the number of foreclosure filings nationwide fell 9 percent from the month prior. Not since November 2007 has foreclosure activity been this sparse across the country.
The drop does not appear to be seasonal, either. Continue reading
The Pending Home Sales Index rose 7 percent in November to rise to its highest level since April 2010, the last month of last year’s home buyer tax credit program. Continue reading
The action sparked a stock market rally at the expense of mortgage bonds, sending conforming and FHA mortgage rates meaningfully higher for the first time in more than 2 months. Continue reading
Home resales moved to a 10-month high in November, the latest in a series of strong showings from the housing sector. Home buyers and sellers throughout Sacramento should take note of November’s numbers because — behind the headlines — there’s a series of statistics that foretell higher home prices ahead. Continue reading
