Cash Sales and a return to Tradition?

Cash sales: “Cash’s grip on the housing market loosened during the first quarter as investors pulled back and more traditional buyers waded into the market, according to a new report from Zillow.” Surprisingly, over 75 percent of low-end home sales in some of the nation’s biggest and most populous cities were transferred as cash deals. However, even…

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Mortgage Rates at a Low – Mortgages

“Mortgage rates fell last week, and in an unusual convergence, so did applications for refinances and home purchase loans. The average interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) decreased to 4.26 percent from 4.31 percent, according to the Mortgage Bankers Association. Interest rates on jumbo and federally insured FHA…

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The Return of Subprime Mortgages – Mortgages

In previous years, the mortgage market had a habit of excluding loan borrowers with bad credit. However, recently, subprime loans are back on the rise by a group of small lenders. This article, presented by CNN Money, gives an inside look at this recent rise in availability of subprime mortgages in property-booming America.

 

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