Fallen Denver home prices and record-low mortgage rates have pushed housing affordability to a 40-year high. Meanwhile, Denver rental prices are continuing to rise at a fast pace, according to a new report by Hotpads.com, a rental listing service. Rental prices in 20 of the largest metro areas increased 3.75 percent in 2011, and prices … Continue reading Rising Rents in Denver Make Home Buying a Better Choice
If you are moving to Denver, Colorado, and plan on financing a new home, you should know that there is a difference between getting Pre-Qualified & Pre-Approved. A Pre-Approval letter is a document from the lender that confirms you can borrow up to a certain amount based on a completed loan application, credit check, tax returns and … Continue reading Obtain Pre-Approval Prior to Your Denver Real Estate Search
We hope that you had an enjoyable Thanksgiving weekend. While you were battling crowds at the grocery store last week, according to Freddie Mac, the average rate on a 30-year fixed mortgage fell to 3.98 percent from 4.0 percent, which is close to the lowest point of 3.94 percent seven weeks ago. The average rate … Continue reading Denver Mortgage Rates Fall Near Record Lows
President Obama unveiled a new mortgage plan last week, aimed at reducing monthly mortgage payments for distressed homeowners who owe more than their properties are worth (more than 125 percent of the value of their home). He announced steps for these homeowners to refinance their loans at low rates (around 4 percent). Is this plan … Continue reading Will Obama’s New Mortgage Plan Help Colorado?
Today’s Standard & Poors/Case Shiller home price index indicated an increase in national home prices by 3.6% from April-June. Also, today’s bond markets recovered much of the losses in the past week. What does this mean? Since interest rates are so low, now is simply a great time to buy and sell a home in … Continue reading Now is the Time to Buy Your Denver Home!
The rate trend is still increasing, although we did see an improvement today. The MBS, mortgage backed securities, trend is higher priced bonds and slightly lower rates. There was lots of volatility today and these lower rates may not hold. If you have a mortgage pending, our advice would be to lock your rate. For … Continue reading Thursday, March 31: Volatile Interest Rates!
Our Denver clients often feel that they are the only buyers out there with the courage to purchase a home. Well, listen up Denver homebuyers! You are definitely not alone. Investors, first-time buyers, and Denver move-up buyers are all out exploring the Denver housing market. Not only have Denver interest rates remained low, but the Denver inventory of … Continue reading Calling Perspective Denver Homebuyers!
There is good news on the Colorado foreclosure front this Christmas. Foreclosures in Colorado’s 12 most populated counties declined last month, according to the Colorado Division of Housing. The number of foreclosures in Colorado’s largest counties decreased 4.2 percent to 2,932 from 3,059 from October to November. Unfortunately, these numbers may provide a bit of … Continue reading Foreclosures Decline in Colorado’s Largest Counties
It’s hard to believe that the year is practically over. Where has 2010 gone? We are all starting to wonder what is in store for the Denver real estate market in 2011. Here are some of our advice and predictions: Jobs: Housing demand could rise if the labor market picks up faster than expected. In … Continue reading What Does 2011 Have in Store for the Denver Real Estate Market?
Calling all prospective Denver homebuyers! Mortgage rates fell to an all-time low this week, dropping to 4.17 percent from 4.24 percent last week. This is the lowest interest rate ever recorded. The average rate on 15-year fixed loans fell to 3.57 percent from 3.63 percent. These low rates were spurred by the Federal Reserve’s huge … Continue reading Denver Mortgage Rates Fall to All-Time Low This Week