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first-time homebuyers

Home > Posts > Tag: first-time homebuyers

33% of the sales were distressed units and 51% of the borrowers were first time home buyers. Just think where we’d be without the 8K program

The unemployment picture however, will not heal with growth below 3.0%. Existing Home Sales were also on tap, up 7.4% to 6.54 million units annualized. 33% of the sales were distressed units and 51% of the borrowers were first time home buyers. Just think where we’d be without the 8K program.

2009-12-22T17:15:50-06:00December 22, 2009|Austin Mortgage Market|

Austin Mortgage Rates Improve

Since the Fed meeting on Wednesday of last week, Austin mortgage rates have improved a little each day. There was no major economic data released during the week, and even a weak 30-yr Treasury auction on Thursday failed to stall the rally in mortgage markets. As a result, Austin mortgage rates ended the week moderately lower.

2009-11-13T15:02:53-06:00November 13, 2009|MBS Quoteline Newsletter|

Inside Lending: Austin Mortgage Market Update For the week of October 12, 2009

Austin Mortgage Market Update - At the end of September, the supply of homes for sale was reported down 1.8% from the previous month in 27 major metropolitan areas. We all know the factors. Home prices are very affordable, mortgage rates and very favorable and first-time homebuyers are taking advantage of the $8,000 tax credit set to expire at the end of November, now just seven weeks away. The Mortgage Bankers Association saw loan applications for home purchases rise 13.2% last week, as the MBA's Purchase Index hit its highest level since last January. The average rate on 30-year fixed rate mortgage slid to 4.89% with an average 1.13 points (including the origination fee) for 80% loan-to-value ratio loans to borrowers with good credit. Freddie Mac's weekly survey of conforming mortgage rates put the average 30-year fixed rate mortgage at 4.87% with an average 0.7 point for 80% loan-to-value ratio loans to borrowers with good credit.

2009-10-12T15:55:29-05:00October 12, 2009|Inside Lending Newsletter|