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Minnesota Real Estate Today News!
July 2011 - Posts
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Buyers are writing contracts at a furious pace nationwide. On a seasonally-adjusted basis, the Pending Home Sales Index rose 2 percent last month to reach its highest level since March. A "pending home sale" is a home under contract to sell, Read More...
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Home builders are slowly reducing inventory. According to Census Bureau data, the number of new homes slid 1 percent from May . On a seasonally-adjusted, annualized basis, home buyers bought 312,000 newly-built homes last month. It's the third straight Read More...
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New grant program for active duty and veterans. Pentagon Federal Credit Union DreamMakers Grant Read More...
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The FHA is insuring a greater percentage of loans than during any time in recent history. In 2006, it insured roughly 5 percent of the purchase mortgage market. Today, it insures one-quarter . "Going FHA" is more common than ever before -- but Read More...
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The Housing Trends eNewsletter for July is ready: Housing Trends July 2011 Read More...
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A strong spring season helped home values recover, says the government. According to the Federal Home Finance Agency's Home Price Index, home prices rose a seasonally-adjusted 0.4 percent from April to May . It's the HPI's second straight Read More...
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Home resales slipped for the 3rd straight month, according to data from the National Association of REALTORS®. The Existing Home Sales posted a 1 percent drop from May as the number of homes sold fell to a seasonally-adjusted, annualized 4.77 million Read More...
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Source: Minneapolis Area Association of Realtors Read More...
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Builders are busy once again. According to the Census Bureau, Single-Family Housing Starts rose to 453,000 on a seasonally-adjusted, annualized basis in June -- a 9 percent spike from the month prior and the highest reading in 3 seasons. A "Housing Read More...
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Homebuilder confidence is bouncing back. One month after an unceremonious dip highlighted by poor sales figures and dim prospects for the future, the National Association of Homebuilder's Housing Market Index r ebounded two points to 15 in July. The Read More...
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The American Consumer will not be deterred. Despite worsening jobless figures and an increase in the Cost of Living, Retail Sales are climbing. In June, for the 12th straight month, retail receipts rose, excluding cars and auto parts. Analysts expected Read More...
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For the 9th straight month last month, foreclosure activity slowed. According to foreclosure-tracking firm RealtyTrac , the number of foreclosure filings dropped 29 percent nationwide on an annual basis in June. The phrase "foreclosure filing" Read More...
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The Federal Reserve released its June 2011 Federal Open Market Committee meeting minutes Tuesday. It contained no surprises and, as such, mortgage rates in Minnesota have idled in the hours since. The Fed Minutes is published 8 times annually , three Read More...
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More commonly called APR, Annual Percentage Rate is a government-mandated mortgage comparison tool. It measures the total cost of borrowing over the life of a loan into dollars-and-cents. A loan's APR is printed in the top-left corner of the Federal Read More...
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Beginning August 1, FHA will allow qualified homeowners with backed mortgages to stop making monthly payments for 12 months before the foreclosure process begins. Source: MPRNews.com July 8, 2011 Read More...
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The year is half-over. It's an opportune time to take stock of analyst predictions made at the start of the year, and to recognize that the "experts" can be wrong as often as they are right. For as much experience and authority an expert Read More...
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Minnesota Emergency Homeowners Loan Program (EHLP) zero interest, forgivable loan. Must apply between July 5-22! Click Minnesota Emergency Loan Program Read More...
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Friday morning, at 8:30 AM ET, the Bureau of Labor Statistics releases its June Non-Farm Payrolls report. If you're currently shopping for a mortgage, or floating a mortgage rate, be prepared. Mortgage rates can change following the monthly report's Read More...
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The interest rate differential between fixed-rate and adjustable-rate mortgages continues to widen and has now reached historic levels. There's never been a better time to lock an ARM. According to Freddie Mac's weekly Primary Mortgage Market Read More...
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