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Buying Real Estate in Washington, DC

News, Tips & Advice for Buyers Seeking Property in Washington, DC

Sep 24

What’s Ahead For Mortgage Rates This Week : September 24, 2012

Mortgage markets improved for the second consecutive week last week as demand for U.S. mortgage-backed bonds remained high. A series of economic reports showed strength in housing and a stability in jobs. Wall Street looked past it, however, to send mortgage rates to their lowest levels in history. One week into the Federal Reserve's newest bond-buying program, the stimulus appears to be working. According to Freddie Mac, the average 30-year fixed rate mortgage rate slipped to 3.49% … [Read more...]

Sep 20

Housing Starts Move To 2-Year High

The new construction housing market continues to make gains. Wednesday, the U.S. Census Bureau reported Housing Starts for single-family homes up 5.5 percent in August to a seasonally-adjusted, annualized count of 535,000 units nationwide. The report marks the fifth month of six that single-family starts increased, and marks the highest starts tally since April 2010 -- the last month of that year's federal homebuyer tax credit program. A "housing start" is a new home on which … [Read more...]

Sep 11

Simple Tips To Keep Your FICO High

For today's home buyers and refinancing households, the value of "good credit" has never been higher. Mortgage approvals hinge on your FICO score, as does your final mortgage pricing. If you're shopping for a home in DC , therefore, or contemplating a refinance, be aware of how everyday credit behaviors can affect your FICO. Even small events can make a big impact. Here are some common-sense steps to help improve your credit score. First, keep a "cushion" on your credit cards. 30 … [Read more...]

Sep 10

What’s Ahead For Mortgage Rates This Week : September 10, 2012

Mortgage markets worsened slightly in last week's holiday-shortened week. As expected, Wall Street took its cues from Europe and from the U.S. jobs market, and mortgage rates moved across a wide range. Home buyers in DC and would-be refinancing households were greeted with wildly varying mortgage rates, depending on which day they loan-shopped. According to Freddie Mac's weekly mortgage rate survey, 30-year fixed rate mortgage rates averaged 3.55% nationwide last week, with an accompanying … [Read more...]

Aug 31

Mortgage Rates Drop For The First Time In 4 Weeks

After 4 weeks of rising costs, DC mortgage rates finally recede. According to Freddie Mac's weekly Primary Mortgage Market Survey, the average 30-year fixed rate mortgage rate dropped 7 basis points to 3.59% this week. Depending on where you live, however, you may find that your offered mortgage rates varies. Freddie Mac's "published rate" is a national average based on a survey of more 125 banks. The rates you receive as an individual vary by bank, and vary by region. Mortgage … [Read more...]

Aug 21

Single-Family Housing Starts Remain Strong

The market for newly-built homes remains strong. As reported by the U.S. Census Bureau, July featured 502,000 single-family housing starts nationwide on a seasonally-adjusted, annualized basis, marking the fourth straight month during which single-family starts posted north of one-half million. The last time this milestone occurred was in the four months ending April 2010 -- the last month of that year's federal home buyer tax credit. A "housing start" is a home on which construction … [Read more...]

Jun 22

Housing Starts Up 26% In Last 12 Months

Sometimes, the housing data headlines tell just half the tale. The stories on May's Housing Starts figures are proving to be a terrific illustration. Tuesday, the Census Bureau released its monthly Housing Starts report. A "housing start" is a home on which construction has started. The report is separated by property type with a separate count for single family homes such as detached residences and town homes; for multiple-unit homes such as 2-unit, 3-unit and 4-unit structures; and, for … [Read more...]

Mar 27

New Home Sales Slip In February

Sales of "new homes" fell to the lowest levels in four months last month. According to the Census Bureau's monthly New Home Sales report, 313,000 new homes were sold in February 2012 on a seasonally-adjusted, annualized basis, representing a 1.6% drop from the month prior. A "new home" is a home for which there has been no prior owner nor tenant. At first glance, the data looks negative for the housing market; a suggestion that the well-publicized housing market recovery may be slowed. However, … [Read more...]

Dec 30

Pending Home Sales Index Rises Back Above 100

Low home prices and mortgage rates have combined to push home affordability to record levels nationwide. Home buyers are taking advantage. The Pending Home Sales Index rose 7 percent in November to rise to its highest level since April 2010, the last month of last year's home buyer tax credit program. The Pending Home Sales Index is published monthly by the National Association of REALTORS®. It measures homes under contract nationwide, but not yet "sold". In this way, the Pending Home Sales … [Read more...]

Dec 23

Pay Your Mortgage Early, Boost Your 2011 Federal Income Tax Deductions

Time is running out to boost to your 2011 federal tax refund. All you have to do is make your January 2012 mortgage payment while it's still December. It's a simple tax strategy that works because of how mortgage interest is paid, and of how the U.S. tax code is written. Different from rent which is paid for the month ahead (i.e. "you're paying January's rent"), mortgage payments are made only after mortgage interest has accrued (i.e. "you're paying for money you've already borrowed from … [Read more...]