Tuesday, October 13, 2009

real Estate Outlook - Warning of slow down ?

Though some economic analysts are warning that the housing market's rebound will slow down as the weather turns colder, this week's numbers show no hints of that. The Clear Capital Home Data Index, which tracks price movements in thousands of neighborhoods and ZIP codes across the country, reported a 6.3% gain last week for the period covering August 27th through September 25th. The latest index found prices up for the first time since 2006 in some of the hardest hit real estate markets. The Mortgage Bankers Association says average thirty year rates dropped again last week in its national survey - hitting 4.89% - the lowest they've been since May. And here's a truly amazing statistic: New mortgage applications to buy houses using FHA loans were 52% higher last week than they were a year ago!