Until mortgage rates hit 10.5%, buying will still be cheaper than renting

From Forbes.com The recent rise in mortgage rates has made buying a house a little more expensive: the increase in the 30-year fixed rate over the past month from 3.4% to 3.9% (Freddie Mac) raised the monthly payment on a $200,000 mortgage by $56, or 6%. However, because mortgage rates are still near long-term lows, and […]

Realtors say: home prices are ‘unsustainable’

By Diana Olick, from CNBC.com For six straight months, home prices have been leaping in double digits from a year ago. In May, the median existing home sale price was 15.4 percent higher nationally than May of 2012, according to a new report from the National Association of Realtors. The Realtors themselves say that kind […]

Real Estate Investing: Cash Flow Is King

By ProfessorBaron.com | Zillow As real estate values rise nationwide and many properties listed for sale are being fought over by investors and home buyers, it seems that, once again, investment property buyers are paying outrageous prices for properties. Anyone recall this phenomenon in 2004, 2005 and 2006? An “outrageous price” is one that is […]

Nail your home renovation budget

By Josh Garskof, from CNNMoney With the real estate market heating up, it appears that American homeowners are ready to start remodeling again. After years of decline, home-improvement spending increased 9% in 2012, according to the Joint Center for Housing Studies at Harvard University, which predicts a double-digit surge for 2013. Planning to get in […]

Farewell 3% mortgage rates

By Les Christie, from CNNMoney Say goodbye to ultra-low mortgage rates. In the past month, rates have been on the rise and they are expected to continue to climb. This week, the average rate on a 30-year fixed-rate mortgage jumped another 10 percentage points to 3.91% and are up from 3.3% in early May, according […]

Obama administration extends Making Home Affordable Program until 2015

By Christina Mlynski, from HOUSINGWIRE The Department of Housing and Urban Development teamed up with the Treasury Department on Thursday to announce an extension of the Obama administration’s Making Home Affordable Program through Dec. 31, 2015. The new deadline was determined in coordination with the Federal Housing Finance Agency to align with extended deadlines for […]