Potential homebuyers and homeowners looking to refinance are still
seeing a window of opportunity as mortgage rates mostly held steady in
the past week.
30-year fixed-rate mortgages averaged 3.93% with
an average 0.6 point for the week ending Aug. 20, 2015, according to
Freddie Mac’s weekly market survey. A year ago, the rate averaged 4.10%.
15-year fixed rates slipped to 3.15% with an average 0.6 point. The same term priced at 3.23% a year ago.
5-year adjustable-rate mortgages were 2.94% with an average 0.5 point. Last year at this time the same ARM averaged 2.95%.
“There
was little movement in financial markets this week as the 30-year fixed
mortgage rate remained steady, dropping only 1 basis point to 3.93%,”
Sean Becketti, chief economist for Freddie Mac, said in a release.
“Housing markets have responded positively to low mortgage rates — the
30-year fixed mortgage rate has been below 4% for five consecutive
weeks. Overall housing markets remain on track for the best year since
2007.”
Homeowners refinance amid favorable rates
As
mortgage rates remain in the neighborhood of 4%, borrowers are taking
the opportunity to refinance higher-rate home loans. The Mortgage
Bankers Association reports refinance applications were up 7% from the
previous week, through Aug. 14. Demand was particularly driven by jumbo
loan refinancing.
Overall mortgage application volume gained 3.6%.
New housing starts highest since 2007
The
housing inventory shortage may be soon be seeing some relief. New
construction is gaining momentum, as single-family housing starts rose
12.8% in July, according to the National Association of Home Builders.
That’s the fastest pace of new home starts since Oct. 2007.
“Our
builders are reporting more confidence in the market, and are stepping
up production of single-family homes as a result,” said Tom Woods, NAHB
Chairman, in a release. “However, builders are still reporting problems
accessing land and labor.”
The recovery varies widely by region,
however. Combined single-family and multifamily new construction starts
rose in the Midwest (+20.1%) and South (+7.7%) but fell in the Northeast
(-27.5%) and West (-3.1%).
read more: http://www.nerdwallet.com/blog/mortgages/mortgage-rates/mortgage-roundup-820/
Showing posts with label Andre Agassi. Show all posts
Showing posts with label Andre Agassi. Show all posts
Friday, August 21, 2015
Thursday, May 8, 2014
Andre Agassi picks Rafael Nadal ahead of Roger Federer as tennis's greatest all-time player
Andre Agassi has hailed Rafael Nadal as the best player in the history of tennis, ahead of Roger Federer.
The former world No 1 opted for the Spaniard over Federer, whose wife earlier this week gave birth to a second set of twins, because he has thrived in an ultra-competitive "golden age of tennis".
"I'd put Nadal number one, Federer number two," the eight-time Grand Slam-winner said.
"Federer separated himself from the field for four years. He separated himself from Roddick and Hewitt," Agassi added.
"Nadal had to deal with Federer, Djokovic, Murray in the golden age of tennis. He has done what he has done and he's not done yet."
Conventional wisdom ranks Federer ahead of Nadal, as the Swiss holds a record 17 Grand Slam titles against 13 for the current world No 1.
But Nadal has a convincing 23-10 head-to-head record against Federer and is one Australian Open victory away from becoming only the third man to win all four Grand Slam titles twice.
"He has won multiple majors, every single one (more than once) except the Australian Open - and give him another year on that," Agassi said.
"It's just remarkable to me what he has done, and he has done it all during Federer's prime."
Agassi added that he did not discount Australia's Rod Laver, two-time winner of the calendar-year Grand Slam, when rating the greatest player of all time.
And he confirmed he would play in the Singapore leg of the inaugural International Premier Tennis League (IPTL) after the dates were rejigged to avoid Thanksgiving - as long as the event goes ahead.
"It seems like it's all happening. I just can't make any promises I can't control. What I can't control (is) if (the event) really exists or not," he said.
"But if it's happening, I'm absolutely going to be there and I will spend time leading up (to the event) playing."
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