It’s an age-old question. Should I rent a home or buy a home? Traditionally, buying a home has been part of the American dream, but renting is becoming increasingly popular in the Denver area as the recession lingers on. The Denver Post recently reported that the number of apartment vacancies has decreased throughout the Denver metro … Continue reading Should You Rent or Buy a Home in Denver?
As the summer winds down, there is good news and bad news for the Denver real estate market. Let’s get the bad news out of the way first. The Denver housing market continues to feel the hangover effect from the homebuyer tax credit that expired at the end of April. The number of homes sold … Continue reading Denver Real Estate Update – August 2010
My trusted friend and colleague, Karla Dimond of Wintrust Mortgage, called last week to let us know about the best jumbo loan rates/programs I have seen in a very long time. For as little as 25 percent down, the rate is as low as 4.125% for a 5/5 ARM. If you are fence-sitting on a decision to … Continue reading Amazing Denver Jumbo Loan Program
Denver interest rates have continued to decrease in recent weeks, with the average 30-year loan rate now hovering around 4.5 percent. The average rate on this same loan product was 5.25 percent a year ago. We can’t emphasize enough how important it is to take advantage of these low interest rates, since you may never … Continue reading Denver Interest Rates Continue to Set Record Lows
RealtyTrac released new foreclosure filing statistics last week, revealing that Colorado has the country’s tenth highest foreclosure rate in the second quarter of 2010. Colorado’s foreclosure filings decreased 4.59 percent from the first quarter of this year, but increased 4.73 percent from the same quarter of last year. According to the report, in the second quarter … Continue reading What is Colorado’s Foreclosure Rate?
We’ve been asked numerous times over the past month: “Why should I purchase a home now when the tax credit expired at the end of April?” The answer is simple. Interest rates have fallen dramatically since April 30th. The following example illustrates how interest rates can dramatically increase your buying power. Think about it in terms … Continue reading Why Should You Buy a Denver Home After the Homebuyer Tax Credit Expired?
Calling all prospective Denver homebuyers! U.S. mortgage rates dropped below 5 percent this week, the lowest level in five months. Interest rates on U.S. 30-year fixed-rate mortgages averaged 4.93% for the week ended May 13, which is down from last week’s average of 5.00% . This is the lowest level since December 2009. If you are a … Continue reading Denver Mortgage Rates Sink to Five Month Low!
TeamCox Realtors – Denver real estate specialists – and ALMC Mortgage have teamed up to offer a Homebuyer Training for 2010 Repeat Buyers and First-time homebuyers and YOU are invited! There will be door prizes, light refreshments and industry professionals available to answer questions! We will address the following topics: • Why should I buy … Continue reading Does $6,500 Cashback Sound Good?
Banks are Warming Up to Short Sales While banks have notoriously been resistant to short sales, as this recession crawls on, they are beginning to warm up to short sales in increasing numbers. During the first six months of 2009, the number of short sales tripled to 40,000 from a year earlier. Why the change … Continue reading Banks are Warming Up to Short Sales
The 30-year fixed-rate mortgage averaged 4.81% for the week ending December 10, 2009, according to Freddie Mac’s Primary Mortgage Market Survey. Last week’s average was 4.71%, and last year’s average was 5.47%. What is putting pressure on mortgage rates? This week, long-term bond yields increased slightly, following an upbeat employment report, revealing that only 11,000 … Continue reading Denver Mortgage Rates Rise for First Time in Five Weeks