"Happy New Year"

The entire Mark Spain Team wishes you a very Happy and Prosperous New Year.

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Atlanta Real Estate News
Mortgage Rates Retreat Slightly This Week: Reports
Long-term fixed mortgage interest rates fell back this week, breaking a six-week streak of steep increases. Data released by Freddie Mac Thursday showed rates for 30-year fixed-rate mortgages averaging 4.81 percent, and 15-year rates at 4.15 percent. A separate study by Bankrate also showed declines for most loan products - all except for the larger jumbo 30-year fixed rate, which inched higher to 5.59 percent. Bankrate expects continued economic improvement to push mortgage rates higher as the new year unfolds.
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The Mark Spain Team wishes everyone a Very Merry Christmas!

Atlanta Georgia Real Estate News
Sales of Existing Homes Gain Ground in November
Existing-home sales got back on an upward path in November, resuming a growth trend since bottoming in July, the National Association of Realtors (NAR) reported Wednesday. Sales of previously owned homes rose 5.6 percent last month. Distressed homes accounted for 33 percent of the month's total sales volume. Housing inventory at the end of November fell 4 percent to 3.71 million existing homes available for sale, which represents a 9.5-month supply at the current sales pace.
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Atlanta Real Estate
2011 Real Estate Market Expected to Show Some Improvement
Ah, it is so much fun to be able to write something positive about the real estate market!
According to an economic outlook report just issued by Fannie Mae, our country’s economy should “kick into higher gear” by the second quarter of 2011. This positive outlook is the result of improvements in consumer spending, consumer confidence,
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Atlanta Real Estate News
Federal Reserve's survey of economic conditions nationwide. The survey, released Wednesday and known as the Beige Book, is based on information collected from the Fed's 12 regional bank districts. BOSTON (This region covers Maine, Vermont, Massachusetts, New Hampshire, Rhode Island and part of Connecticut.) Business activity expanded gradually. Business contacts in manufacturing, software and information technologies services and commercial real estate were more upbeat than six or 12 weeks ago.
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Atlanta Georgia Real Estate Interest Rate Update

30-year fixed loans: Conventional: 4.875% FHA: 4.75% Jumbo: 5.125%

15-year fixed loans: Conventional: 4.25% FHA: 4.5% Jumbo: 4.5%

5-year ARM: Conventional: 3.125% FHA: 3.0% Jumbo: 3.625%

Atlanta Georgia Real Estate Listings News:
Twenty-three percent increase in price reductions by home sellers
December 16th, 2010
A new report release by Trulia reveals that, in December, the number of residential real estate listings with at least one price cut grew to 27 percent which is a 23 percent increase from December 2009 when 22 percent of the listings had at least one price cut. In terms of the size of the price cut, that has remained about the same at 11 percent.
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Atlanta Real Estate News
New Regulatory Rule to Support Foreclosure-Ridden Neighborhoods
Federal regulators on Wednesday announced changes to the Community Reinvestment Act (CRA) parameters to support communities affected by high foreclosure levels. The final rule encourages depository institutions to finance development projects in areas that qualify for HUD's Neighborhood Stabilization Program (NSP).
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Atlanta Georgia Real Estate news:
National Housing Survey shows 70 percent think it is a good time to buy a house!
Fannie Mae conducted a National Housing Survey poll between June 2010 and July 2010 to asses homeowners and renters’ confidence in home-ownership as an investment, the current state of their household finances and overall confidence in the economy. The finding from this survey were compared with a similar survey conducted by Fannie Mae from December 2009 to January 2010 as well as one conducted back in 2003.Highlights from the National Housing Survey:
Eighty-two percent of respondents consider home-ownership important to the economy, up two percent from January.
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"Atlanta Real Estate News"
Homeowner Negative Equity Declines for Third Straight Quarter
By Dennis Norman, on December 13th, 2010

A report released this morning by CoreLogic shows negative equity declined in third quarter of 2010 for residential properties, marking the third-consecutive quarterly decline. The CoreLogic reports that 10.8 million, or 22.5 percent, of all residential properties with mortgages were in negative equity at the end of the third quarter of 2010, down from 11.0 million and 23 percent in the second quarter.
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Atlanta Georgia Real Estate News

Housing Inventory Drops in November, Still Above 2009 Numbers

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Alpharetta Georgia Real Estate Interest Rate Update
WEEKEND RATES:

30-year fixed loans: Conventional: 4.625% FHA: 4.625% Jumbo: 5.0%

15-year fixed loans: Conventional: 4.0% FHA: 4.0% Jumbo: 4.25%

5-year ARM: Conventional: 2.75% FHA: 2.75% Jumbo: 3.375%

Atlanta Real Estate News:
Home Purchase Applications Rise for Third Consecutive Week
The Mortgage Bankers Association (MBA) released its tallies of new mortgage activity Wednesday for the week ending December 3, 2010.
The trade group’s index of mortgage applications for the purchase of a home jumped 1.8 percent. This is the third weekly increase for the purchase index, which has reached its highest level since early May.
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Atlanta Georgia Real Estate News Update

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Atlanta Georgia real Estate News
Home purchase mortgage applications increase hitting 7 month high
By Dennis Norman, on December 8th, 2010

According to the Mortgage Bankers Association (MBA) weekly mortgage applications survey for the week ending December 3, 2010, the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) increased 1.8 percent from the week before. The four-week moving average of home purchase mortgage applications is up 2.8 percent for the period. This marks the highest level the seasonally adjusted purchase index has been since the beginning of May 2010.
For More InformationCall MArk Spain Today 770-886-9000
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Atlanta Georgia Real Etsate News
National Housing Survey shows 70 percent think it is a good time to buy a house
By Dennis Norman, on September 16th, 2010
Fannie Mae conducted a National Housing Survey poll between June 2010 and July 2010 to asses homeowners and renters’ confidence in home-ownership as an investment, the current state of their household finances and overall confidence in the economy. The finding from this survey were compared with a similar survey conducted by Fannie Mae from December 2009 to January 2010 as well as one conducted back in 2003.Highlights from the National Housing Survey:
Eighty-two percent of respondents consider home-ownership important to the economy, up two percent from January.
For More Information call Mark Spain 770-886-9000
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www.greateratlantaforeclosurehelp.com

Atlanta Georgia Real Estate Interest Rate Update

30-year fixed loans: Conventional: 4.5% FHA: 4.5% Jumbo: 4.75%

15-year fixed loans: Conventional: 3.75% FHA: 4.0% Jumbo: 4.25%

5-year ARM: Conventional: 2.75% FHA: 2.75% Jumbo: 3.375%

Atlant Real Estate News:

Pending home sales increase over 10 percent in October; Mortgage Interest Deduction vital to Recovery
By Dennis Norman, on December 2nd, 2010

Dennis Norman The National Association of REALTORS Pending Home Sales Index for October shows an increase of 10.4 percent in the index from the month before (seasonally adjusted), and a 20.5 percent decrease from a year ago.

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Atlanta Real Estate News
Home purchase mortgage applications increase as do interest rates for the week
By Dennis Norman, on December 1st, 2010
According to the Mortgage Bankers Association (MBA) weekly mortgage applications survey for the week ending November 26, 2010, the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) increased 1.1 percent from the week before. The four-week moving average of home purchase mortgage applications is up 3.8 percent for the period. This marks the highest level the seasonally adjusted purchase index has been since the beginning of May 2010.
The Mortgage Refinancing index decreased 21.6 percent this week making the third consecutive week of declines and is now at it’s lowest level since the end of June. The refinance share of mortgage applications decreased to 74.9 percent from 78.6 percent the week before.
Interest rates for the week ended November 19, 2010:
• 30 year fixed-rate mortgage interest rates increased to 4.56 percent from 4.50 percent the week before, with fees increasing to 0.96 percent from 0.87 percent on loans that are 80 percent of the value of the home. This is the fourth time in five weeks that rates have increased and the 30 year rate is now at it’s highest level since August 2010.
• 15 year fixed rate mortgage interest rates decreased to 3.91 percent from 3.83 percent the week before, with fees decreasing to 0.88 percent from 1.04 percent on loans that are 80 percent of the value of the home.
Call Mark Spain today for more information: 770-886-9000 homes@markspain.com
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Atlanta Georgia Real Estate News Interest Rate Update

30-year fixed loans: Conventional: 4.25% FHA: 4.25% Jumbo: 4.75%

15-year fixed loans: Conventional: 3.75% FHA: 4.0% Jumbo: 4.25%

5-year ARM: Conventional: 2.75% FHA: 2.75% Jumbo: 3.5%