Apartment rents may increase as much as 10 percent, which is can encourage more people to become homeowners.

The median price of a house is scheduled to jump an estimated 3 percent, Jones, chief economist for Stewart Title Guaranty Co., stated.

Other recent reports on Houston-area real estate seem to support such optimism.

In the first quarter, home sales rose 9 percent over the same period last year to 12,936, according to the Texas Quarterly Housing Report.

The median price reached $150,900, which is a 4 percent increase.

Also, employment gains are set to increase commercial real estate, where construction has decreased.

Rents are scheduled to rise for industrial and office properties as occupancy rates tighten, Jones added.

Source: builderonline.com

The rate on the 30-year loan dropped to 3.88 percent this week, which is down from 3.9 percent.

In February, the rate reached 3.87 percent, which is the lowest since long-term mortgages started in the 1950s, according to Mortgage buyer Freddie Mac.

For home buyers, the 30-year loan is the most common financing option.

The average on the 15-year fixed-rate mortgage slipped to 3.12 percent, which is down from 3.13 percent last week.

The U.S. average hit an all-time low of 3.11 percent two weeks ago.

In order to calculate the average rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of each week.

The average rate does not include extra points, also known as fees, which the majority borrowers must pay to get the lowest rates.

1 percent of the loan amount equals one point.

For the five-year adjustable loan, the average rate increased to 2.85 percent, which is up from 2.78 percent.

The average on one-year adjustable loans dipped to 2.74 percent, which is down from 2.81 percent.

Source: msn.com

According to mortgage buyer Freddie Mac, the rate on the 30-year loan jumped to 3.90 percent from 3.88 percent.

The rate reached 3.87 percent in February, which was the lowest since long-term mortgages began in the 1950s.

The 15-year mortgage, which is popular with those refinancing, increased to 3.13 percent from 3.11 percent.

Source: sfgate.com

30-year fixed-rate mortgage averaged 3.98 percent with an average 0.7 point for the week ending April 5, which is down from last week when it averaged 3.99 percent.

Last year at this time, the 30-year fixed-rate mortgage averaged 4.87 percent.

15-year fixed-rate mortgage this week averaged 3.21 percent with an average 0.7 point, down from last week when it averaged 3.23 percent.

A year ago at this time, the 15-year fixed-rate mortgage averaged 4.10 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.86 percent this week, with an average 0.8 point, which is down from last week when it averaged 2.90 percent.

The 5-year ARM averaged 3.72 percent a year ago.

This week, 1-year Treasury-indexed ARM averaged 2.78 percent with an average 0.6 point, unchanged from last week when it averaged 2.78 percent.

The 1-year ARM averaged 3.22 percent at this time last year.

Source: marketwatch.com

Zillow stated that the 30-year fixed mortgage rate on its Mortgage Marketplace fell to 3.81%, from 3.88% last week.

The rate remained between 3.8% and 3.85% for most of the week and dropped to its current rate Tuesday morning, Zillow stated.

Erin Lantz, director of Zillow Mortgage Marketplace, stated, "Despite some late-week volatility instigated by Federal Reserve Chairman Ben Bernanke’s comments around persistent unemployment, and weak demand for a five-year Treasury note auction, mortgage rates ended essentially flat for the week."

Several mortgage trackers have reported rates at or near historic lows lately.

Accordng to Lantz, rates are expected to remain relatively unchanged this week as weak economic news from Europe overshadows moderate improvements in the U.S. economy.

Tuesday, Zillow stated that the rate for a 15-year fixed home loan decreased to 3.04%, from 3.1% a week earlier.

The rate for a 5-1 adjustable-rate mortgage dropped to 2.57% from 2.72% last week.

A 5-1 ARM has an initial rate that applies for the first five years of the loan and then adjusts annually.

Source: wsj.com

Cypress Creek Lakes is a 1,600-acre community that opened in 2004.

Mischer Development said over 1,000 new homes are scheduled to be built on the remaining 700 acres in the subdivision.

Home prices are scheduled to range from the $190,000s to the $600,000s.

Lennar, Ashton Woods, Perry Homes, Village Builders, Newmark Homes and Darling Homes are scheduled to build the new homes.

Also, the developer is planning a $3 million welcome center and recreation complex with a clubhouse, two pools, exercise room and playground.

Source: chron.com

The purchase application index has been highlighted as an important data series as it captures the demand side of residential real estate for both existing and new home purchases.

The latest data is showing that the average rate for a 30-year fixed rate mortgage slipped 3 basis points to 3.94% since last week while the purchase application volume grew 4.4% and the refinance application dropped 4.10% over the same period.

Source: csmonitor.com

According to mortgage buyer Freddie Mac, the rate on the 30-year home loan decreased to 3.90 percent from 3.95 percent the previous week.

That’s above the 3.87 percent average rate reached two weeks ago, which was the lowest since long-term mortgages started in the 1950s.

The average on the 15-year fixed mortgage slipped to 3.17 percent from 3.19 percent a week ago.

Four weeks ago, it hit a record 3.14 percent.

Mortgage rates have been under 4 percent for over three months.

That has made home-purchasing and refinancing more attractive for those who can qualify.

According to the Mortgage Bankers Association, home sales have improved and the four-week average of home purchase applications was up a smidge last week.

Refinancing now makes almost 78 percent of mortgage activity.

In order to calculate the average rates, Freddie Mac surveys lenders across the U.S. Monday through Wednesday of each week.

The average rates don’t include extra points, known as points, which most borrowers are required to pay to get the lowest rates.

1 percent of the loan amount equals one point.

The average fees for the 15-year and 30-year loans were unchanged at 0.8.

For the five-year adjustable loan, the average rate jumped to 2.83 percent from 2.80 percent, and the average fee was unchanged at 0.7.

The average on the one-year adjustable loan decreased to 2.72 percent from 2.73 percent, and the average fee was unchanged at 0.6.

Source: builderonline.com

According to ForTheBestRate.com, 30-year fixed mortgage rates are unchanged since setting a new record low the first week of February.

Holding steady at an average of 3.87% (0.8 points) 30-year home loans are as inexpensive as they have ever been since records have been kept.

15-year fixed rate pricing averaged 3.16% (0.8 points) this week, which is up from the record low of 3.14% (0.8 points).

Mortgage borrowers with good credit and desirable (less risky) loan scenarios may be able to find mortgage rates even lower than the current averages.

On Friday, February 17, 30-year fixed rates as low as 3.500% were posted in the rate tables on the website.

For the 15-year fixed product pricing was advertised as low as 2.750%.

Nat Criss, Managing Partner of CMG Equities, LLC, stated "This is an excellent time for the highest credit worthy applicants to lock in an incredibly low rate. A fixed rate mortgage at 2.75% would have been unimaginable for much of the history of mortgage lending. Even for those with some credit issues or less equity in their properties, pricing can still be very very low, and represent significant savings over loans taken out just a few years ago."

Source: chron.com

The 30-year fixed rate remained steady at an average of 3.87% for the week ending February 9, the lowest rate ever recorded in the 40-year history of the Freddie Mac Primary Mortgage Market Survey.

The 15-year fixed rate increased higher to an average of 3.16%, which is up from the record 3.14% it set in the previous week.

The 5-year Treasury-indexed adjustable rate mortgage and the 1-year Treasury-indexed adjustable rate mortgage saw modest gains as well.

Frank Nothaft, vice president and chief economist at Freddie Mac, attributed the growth to last Friday’s much better-than-expected jobs report.

The report showed that the economy added 243,000 jobs last month and the unemployment rate eased to 8.3%, which is the lowest rate since February 2009.

Nothaft stated, "A strong January employment report added upward pressure to most mortgage rates this week."

Source: yahoo.com