Carl Rizzuto's (crizzuto) Blog

Mortgage Rates Down 1 Percent In One Year Another week, another new low for mortgage rates. According to Freddie Mac’s weekly Primary Mortgage Market Survey, the 30-year fixed rate mortgage rate fell 3 basis points to 3.53% last week nationwide. The 3.53% mortgage rate is available to mortgage ap...

Single-Family Housing Starts Rise For 4th Straight Month New construction housing is in a post-recession rally. As reported by the Census Bureau, on a seasonally-adjusted, annualized basis, last month’s Single-Family Housing Starts rose 5 percent to 539,000 units nationwide. This is the highest r...

Existing Home Supply Ticks Higher To 6.6 Months Nationwide Home resales slipped more than 5 percent last month, putting a damper recent housing market enthusiasm. According to the National Association of REALTORS®, Existing Home Sales fell to 4.37 million units in June 2012 on a seasonally-adjust...

Foreclosure Starts Rise For Second Straight Month The number of U.S. homes receiving foreclosure notices topped one million through the first six months of 2012, according to RealtyTrac. There were 1.046 million foreclosure filings between January – June 2012, says the foreclosure-tracking firm i...

Fed Minutes Suggest Fiscal Stimulus Later This Year The Federal Reserve released the minutes from its June Federal Open Market Committee meeting, revealing a Fed divided on the future of the U.S. economy. Mortgage rates are higher after the release of the minutes. The Fed Minutes is the detailed ...

84 U.S. Markets Improving In July Where economic growth goes, housing growth often follows. That’s why it’s good news for homeowners that 84 U.S. metropolitan areas are showing “measurable and sustained growth” this month, according to the National Association of Homebuilders’ Improving Market In...

Home Purchasing Power Jumps To New Highs With mortgage rates down to all-time lows, you can buy a lot more home for your money. Home affordability is at an all-time high. According to last week’s Freddie Mac mortgage rate survey, the average 30-year fixed rate mortgage has dropped to 3.62% nation...