Month: May 2012

One Third of U.S. Mortgage Borrowers still Underwater

Thirty-one percent or close to 16 million homeowners in the U.S. were underwater on their mortgage during the first three months of this year, this according to Zillow. Zillow reported that the typical U.S. mortgage borrowers owe $75,644 more or 44.5% more on what their house is worth. Despite the fact that one third of …

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30-Year Mortgage Rate Sets a Record Low for 4th Week in a Row

Home buying got even more affordable this week as the 30-year fixed-rate mortgage set a record low for the fourth week in a row. In its latest Primary Mortgage Market Survey, Freddie Mac reported that the 30-year fixed-rate mortgage dropped to 3.78% last May 24, a slight drop from last week’s averaged of 3.79%. The …

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Is Today the Right Moment to Become a First-Time Home Buyer?

The Wall Street Journal posted this question: Should first-time home buyers consider jumping into the market? Eric Lascelles, chief economist at money-management firm RBC Global Asset Management Inc., told the Wall Street Journal that now is the best time to become a first-time home buyer. Lascelles said that while the housing market, in general, is …

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