What Will the Mortgage Deal Mean For You

The long-awaited $26-billion foreclosure settlement between the government and the biggest banks was announced on Thursday.   Although that sounds like a lot of money, it’s nothing compared to the trillions lost since the credit bubble burst in 2008.

Who’s eligible?

All states took part except for Oklahoma. Unless Oklahoma signs on, borrowers there will be excluded.   About a million homeowners will get a refinance or have their loan balance paid down somewhat. In addition, some people who have already lost a home to foreclosure will get small payments.

The Banks involved.

You’re possibly in the running for a piece of the settlement if your loan is “serviced” (mortgage payments are collected) by Wells Fargo, Ally Financial, Bank of America, JPMorgan Chase and Citigroup. They manage payments on 55% of American home loans.

The Breakdown of the Settlement

• $5 billion in cash payments to states and federal agencies
• $17 billion to help homeowners
• $3 billion for refinancing
• $1 billion for the Federal Housing Administration

Read more at The Wall Street Journal

Austin and Houston Real Estate Markets 2012

Find out what’s happening in 150 local markets around the nation – including the Austin real estate market and Houston real estate market.

Housing Trends is filled with U.S. Census Bureau key market indicators, consumer videos, blogs, a real estate glossary, mortgage rates and calculators, consumer articles, real estate radio, REALTOR.com local community reports and local and national real estate sales and price activity provided by local MLSs and the National Association of REALTORS®.

http://texascapitalproperties.housingtrendsenewsletter.com/

Mortgage Rates Hit Record Lows Again

According to Bankrate.com’s national survey of large lenders, mortgage rates are at historic lows again as the Obama administration makes another attempt to help underwater homeowners refinance their mortgages to take advantage of the superlow rates.

The benchmark 30-year fixed-rate mortgage fell 13 basis points this week to 4.12 percent.  A year ago, the mortgage index was 5.02 percent and a month ago, it was 4.18 percent.

It is still a buyer’s market!  This is the time to buy!  Contact us today to start your FREE Buyer Search with daily email alerts of new listings that match your criteria.

Texas Capital Properties is your source for all real estate needs in Austin, Texas and Houston, Texas.

Housing and Mortgage Trends for 2012

Thinking of buying a home? You need to start soon.  Right now it’s still a buyer’s market, but you’ll be competing with a wave of investors looking for bargain properties.  And although mortgage rates are still low, that won’t last forever.

 

Here are some Housing and Mortgage Trends you may see in 2012 according to national experts:

Home Prices Will Stablize -  Nationally, home prices remain lower than a year ago, but many housing experts say there’s not much room for prices to fall further.   The median home price of existing homes was 3.5 percent lower in November 2011 compared to the previous year, according to the National Association of Realtors.

Mortgage Rates Should Still Remain Low – Thanks to the Fed and a slower economy, mortgage rates are expected to stay near record lows for at least the first few months of 2012.

More Investors Enter the Market – If you plan to buy a house, be ready to compete with investors.  According to the National Association of Realtors, 1 in 5 homes sold in 2011 was purchased by an investor and many of these investors are foreign buyers who want to take advantage of the low prices and the weak dollar.

If you are looking to buy a home in Austin, Texas or Houston, Texas, contact Texas Capital Properties today for a FREE Buyer Search sent directly to your email with daily alerts of new listings!

Real Estate Housing Reports for Austin and Houston

Find out what’s happening in today’s real estate market in Austin, Texas or Houston, Texas online with our HOUSING TRENDS NEWSLETTER – January 2012. 

Did you know that buying is cheaper than renting in 74 percent of the nation’s largest cities…read more

What’s your home’s value….find out

Did you know that December 2011′s existing home sales showed an uptrend according to the National Association of Realtors®…read more

Visit the Texas Capital Properties website to view our current listings, search the Houston MLS, search the Austin MLS, plus much more!