Eliot Rachman, GRI

Eliot Rachman GRI - REALTOR®

CalBRE #01328198


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Posted on Tuesday, 31 Jan 2012 at 03:20 pm
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Freddie Mac recently released the results of its Primary Mortgage Market Survey®, showing average mortgage rates climbing as the housing market ended 2011 on a high note. The 30-year fixed-rate mortgage averaged 3.98 percent reversing its previous three-week trend of setting all-time record lows. Despite the jump, this marks the eighth consecutive week the 30-year fixed has remained below 4.00 percent. The 30-year fixed-rate mortgage (FRM) averaged 3.98 percent with an average 0.7 point for the week ending January 26, 2012, up from last week when it averaged 3.88 percent. Last year at this time, the 30-year FRM averaged 4.80 percent. The 15-year FRM this... ...Read More
Posted on Tuesday, 31 Jan 2012 at 03:19 pm
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Mortgage originations plunged 10.1 percent from November to December, continuing a decline from 2011’s September peak. At the same time, loans originated over the last two years have proved to be some of the best quality originations on record.New originations ended the year down 29.3 percent from 2010, lower than since 2007, and December activity was down 2.7 percent from December 2010. Through November, originations totaled about 5.6 million, down 1 million from 2010, according to the December Mortgage Monitor report released by Lender Processing Services.Mortgages originated in 2010-11 have 90-day default rates that were lower than any... ...Read More
Posted on Tuesday, 31 Jan 2012 at 03:17 pm
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According to a recent report in Real Estate Economy Watch, nearly one out of three home sales in December 2011 went to buyers who paid all cash, adding credence to the belief that investors are key to the recovering real estate market. The report was based on the findings from the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, which surveys approximately 2,500 real estate agents nationwide each month. According to the survey, in December, the overall proportion of cash buyers in the housing market surged to a record 33.2 percent, up from 29.6 percent a year earlier, and 74 percent of investors used all cash to buy homes. Investors accounted for 22.8 percent... ...Read More
Posted on Tuesday, 31 Jan 2012 at 03:15 pm
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Support for homeownership is greater in states whose median home value is higher than the national average, according to a new national survey of homeowners.Nationwide 72 percent of homeowners in a recent survey by HomeGain indicated that they were satisfied with owning a home and 28 percent said they were dissatisfied. An analysis of results from a representative selection of states found that more homeowners in wealthier markets evidenced greater support for homeownership while those in more affordable markets were generally less supportive.In New York State, the second most expensive state in the nation to buy a home, support was strongest, 77 percent. In... ...Read More