Archive for April, 2009

First-time Homebuyers Driving up the Market, Foreclosures Down

Apr 17th 2009livemileFinance

The housing market is starting to show several signs of turning around.  In the first-time homebuyers market, many want to take advantage of the  $8000. tax credit.  In the $250,000 and under price range, it is clearly a Sellers market as these first-time homebuyers drive up the market.   Check out what is on the market now at www.coloradohomehelper.com

Today the Denver Post reported that Colorado’s foreclosure activity is down for the quarter. “Foreclosure activity in Colorado dropped by a third in the first three months of this year compared with the same period in 2008, according to a report Wednesday from RealtyTrac. ….Colorado had one foreclosure filing for every 169 homes, ranking 12th among states and on par with the U.S. foreclosure rate of one filing for every 159 homes. ……  Back in 2006, Colorado’s foreclosure rate ranked first among states, according to RealtyTrac. That spurred a series of reforms, including the licensing of mortgage brokers and the creation of a foreclosure-assistance hotline.”   For the full article, go to http://www.denverpost.com/economy/ci_12152077

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Apr 15th 2009livemileUncategorized

Week of  April 12, 2009

Mortgage Market Commentary from Lincoln Mortgage US.

A few more glimmers of optimism appeared last week for our ailing economy, with a few economists even predicting a September end to this recession!  With a second week of no major government intervention or announcements, mortgage rates ticked upward with the balmy mood last week.  The economic data comes flooding in this week.  One of the factors that is helping to keep interest rates low is that inflationary pressures are at very low levels.  Both the Producer and Consumer Price Indices are due this week, with expectations of very tame readings.  If both of the indices continue to show subdued inflation, it is likely that mortgage rates will stay fairly flat.  Retail sales data is also due this week.  While spending is down, it has remained fairly strong during this recessionary period.  An unexpected drop could dampen the timid levels of optimism in the market, but it would help keep mortgage rates very low.  After last week’s record lows for rates, we could experience some minor upward pressure on rates if lenders are receiving more applications than they can process.

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