article thumbnail

Is Strong Equity Enough to Hold Back Foreclosures?

RIS Media

. “An analysis of our McDash loan-level mortgage performance dataset back to 2007 shows that holding equity in one’s home might not be a blanket backstop to foreclosure activity,” said Graboske in a statement. That brings the average monthly mortgage payment to its highest level since late 2007. ” said Graboske.

Equity 98
article thumbnail

Housing Market Trends 2022: Home Prices and Sales

Marco Santarelli

The surprising uptick in sales of new single-family houses in the United States in May is likely to be short-lived as home prices continue to rise and the average contract rate for a 30-year fixed-rate mortgage hits 6 percent, decreasing affordability. Sales were 8.6% lower than in May 2021.

Sales 94
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Housing Market 2020 Forecast: Will It Crash or Recover?

Marco Santarelli

The 30-year fixed-rate averaged 3.57% in the first quarter of 2020, down from 4.62% one year ago. The average monthly mortgage payment on a 30-year fixed-rate mortgage with a 20% down payment was $995, down from $1,048 a year ago. The current 30-year fixed-rate is averaged 3.15%.

Marketing 145
article thumbnail

131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

It’s kind of like a fixed-rate mortgage and an adjustable-rate mortgage had a baby. A convertible ARM is a mortgage with a much lower interest rate at the start of the loan, where the interest rate fluctuates during the life of the loan, usually every six months. Fixed-rate mortgage.

article thumbnail

Orlando Real Estate Market & Investment Overview 2020

Marco Santarelli

The biggest mistake buyers make is sitting around waiting for sale prices to decline while their potential mortgage payment plummets. The average interest rate on a 30-year fixed-rate mortgage fell to a record low of 2.88%. The 15-year fixed-rate mortgage dropped to 2.44%.

Marketing 126
article thumbnail

Phoenix Real Estate Market & Investment Overview 2020

Marco Santarelli

The biggest mistake buyers make is sitting around waiting for sale prices to decline while their potential mortgage payment plummets. The average interest rate on a 30-year fixed-rate mortgage fell to a record low of 2.88%. The 15-year fixed-rate mortgage dropped to 2.44%.

Marketing 135
article thumbnail

Las Vegas Real Estate Market 2020 Overview

Marco Santarelli

The percent of Las Vegas homeowners underwater on their mortgage is 7.2%, which is higher than Las Vegas-Henderson-Paradise Metro at 7.1%. The number of mortgage delinquencies in Nevada had reached its lowest point in years. Las Vegas Realtors reported that short sales and foreclosures combined accounted for 2.7%

Marketing 128