Real Estate Blog New York January Archive

New Homes Sales are the lowest since 1963

01/30/09 15:02

It is no surprise with the economy faltering the way it is that new homes being built are becoming more and more scarce.

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Overvalued appraisals also to be blamed

If there's one factor contributing to this housing crisis aside from the gluttonous financial institutions, it would be the home appraisers who are facing constant pressures from lending institutions.

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Falling stock prices of New York construction companies sign of weakening NY real estate

If stock prices were the keys, it is obvious by now that the real estate market of New York is facing a crisis. I am talking about Toll and Hovnanian, two major construction companies in the Big Apple.

Read more: Falling stock prices of New York construction companies sign of weakening NY real estate [click]

Mortgage rates drop to 37-year low

This may be the time to refinance your home mortage. According to Frannie Mae's recent survey of mortgage rates, rates for thirty-year fixed-rate home mortgages dropped to its lowest in 37 years. It dropped to 5.10 percent this week, down from last week's 5.14 percent.

Read more: Mortgage rates drop to 37-year low [click]