As Mortgage Rates Climb, Home Sales Slip

As Mortgage Rates Climb, Home Sales Slip

Rising mortgage rates are biting into home sales. The Wall Street Journal reports that this will likely continue as interest rates readjust in the new year and as the Federal Reserve winds down its bond-buying stimulus program.

The relationship between rates and home sales is most evident so far with new homes: As interest rates have risen, demand for new homes has also fallen. Housing's Best Buys for 2014: Home prices and mortgage rates are on the rise, and some investors are retreating from the market. However, Forbes believes there are still plenty of housing deals left for home buyers in the new year, and with possibly less competition.

Where to Invest in Housing 2014 'Salt Lake City'

Where to Invest in Housing 2014 'Salt Lake City'
Best Buy Cities: Buying a home can be a great investment, as investors gobbling up properties over the last few years–when prices and mortgage rates were at the bottom–well know. Now, with homes prices and rates ticking steadily back up, investors are backing away from the market, leaving more room for the rest of us. Perhaps you fear you’ve missed the best time for buying housing. Prices were low last year, but there are still deals to be had. The good news is that less competition for housing and an overall less-crazed market than in 2013. Best Buy Cities–the top 20 housing markets to invest in for 2014. This makes them fairly low-risk investment opportunities for buyers who are smart and know not to overpay.Read more...

Ring in the New Year at EVE, Salt Lake City's

Ring in the New Year at EVE, Salt Lake City's
Salt Lake City's three day celebration: Catch live music by beyond5 and Smallpools, DJs, performances, museums, and a Jazz game – nine downtown venues are included! Jump in bounce town and play in the ballroom at the Salt Palace. Don't miss fire dancers, a Native American PowWow and of course – fireworks! See What's in Store for #Housing in 2014. Watch video to see the events schedule....

Fannie, Freddie Fee Hikes Delayed for Review

Fannie, Freddie Fee Hikes Delayed for Review

The incoming director of the Federal Housing Finance Agency says that he will delay Fannie Mae and Freddie Mac's planned increases on mortgage fees until he has time to review the reasoning behind it.

Fannie Mae and Freddie Mac said earlier this month that they intend to charge more to lenders who guarantee loans for borrowers with mid-range-or-below credit scores, as well as borrowers who don't meet certain down payment guidelines. 

#Mortgage fees were set to take effect in March & April on #Home borrowers. Fannie Mae and Freddie Mac said earlier this month that they intend to charge more to lenders who guarantee loans for borrowers with mid-range-or-below credit scores, as well as borrowers who don't meet certain down payment guidelines. Watch our video to lean more.

Equity Has Returned

Equity Has Returned

For Those Who Held On: Home prices surged 11.3 percent this year compared to 2012, the latest housing data shows. 

A rise in home prices has pulled more home owners out from underwater with the return of equity this year, NAR notes.
 

On NAR’s Economists’ Outlook blog, researchers explain that a borrower who bought a median-priced home in 2004 and held it for nine years – the average tenure in a home – would now have $28,114 in equity (includes combined price appreciation and paying down mortgage principle). read more at Affordable Utah Housing...

“How Will Housing Recovery Fare In 2014?”

“How Will Housing Recovery Fare In 2014?”

In fact, job growth likely will be one key to driving housing growth in the new year. 

As employment picks up, greater demand for housing is expected to occur and a surge in homebuilding activity. Celia Chen, housing economist at Moody's Analytic, predicts a “homebuilding boom” in 2014.The housing recovery is expected to continue on its path in the new year with home prices continuing to rise (although at a slower pace); sales to rise slightly; and the foreclosure crisis expected to finally draw to an end. 

10 States Facing the Highest Foreclosure Rates

10 States Facing the Highest Foreclosure Rates
The industry’s foreclosure inventory contracted again in November upon continued improvements on the housing and economic fronts.
Although on a monthly basis, the inventory of homes in foreclosure fell slightly by 1.72 percent, year-over-year, it was down 28.81 percent.
The data and analytics firm released a preview of its November 2013 month-end mortgage performance statistics, showing there are now 1,256,000 mortgage loans in foreclosure, or 2.5 percent of all outstanding mortgages nationwide. Foreclosures are falling, but they still remain a problem in some pockets across the country. #Home Foreclosure activity in November was found to be the highest in the following states. See states