MortgageLoanRateUpdate
MortgageLoanRateUpdate
MortgageLoanRateUpdate
1-000-000-0000 BECOME A PARTNER
1-000-000-0000 BECOME A PARTNER
1-000-000-0000 BECOME A PARTNER
You're Now Reading:
Home Sales and Prices Fall in California, but so does the Monthly Payment
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Home Sales and Prices Fall in California, but so does the Monthly Payment
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Home Sales and Prices Fall in California, but so does the Monthly Payment
Mortgage Calculator
Mortgage Rates
Home Buying Tips
Home Selling Tips
About Mortgages
Mortgage Calculator
Mortgage Rates

November 18, 2011 (Shirley Allen)

Monthly sales of new and existing homes, along with home prices, declined in California from September to October, but there is a silver lining – average mortgage payments are at an all-time low according to real estate information provider DataQuick.

An estimated total of 34,087 new and resale houses and condos were sold in the Golden State in October. That was 3.7 percent lower than the 35,404 homes sold in September but 4.3 percent higher than the 32,669 homes sold in October 2010. Historically, California averages 43,528 home sales in the month of October.

The median sales price for a home in California declined 3.6 percent to $240,000 in October from $249,000 in September and was 6.3 percent lower than the median price of $256,000 in October of 2010.

The statewide current cycle peak price was $484,000 in early 2007, while the low during the current cycle was $221,000 in April 2009. Year-over-year home prices have declined for 13 consecutive months.

Distressed property sales accounted for 53.6 percent of all re-sales in October, up from 52.5 percent in September, with homes that had been foreclosed on in the previous twelve months accounting for 34.1 percent of the existing home sales in October. That was an increase from 33.8 percent posted in the previous month of September but was down from 36.7 percent posted in October of 2010.

Short sales increased to 19.5 percent of all re-sales last month, up from 18.7 percent in September. In October of last year, short sales accounted for 18.2 percent of all distressed property sales.

Low mortgage interest rates and falling prices helped California borrowers keep their payments low as the typical monthly mortgage payment for home buyers declined by another $40 from September to October, falling to $924, the lowest payment on record for California when adjusted for inflation since DataQuick began keeping track in 1988.

The payment was also $81 less than the average mortgage payment of $1,005 in October of last year. October’s typical mortgage payment was 66.6 percent lower than it was during the current cycle’s peak in June 2006.

Tags: DataQuick, California, new and re-sale homes, condos, sales, median home prices, distressed properties, short sales, typical mortgage payment

Source:
DataQuick

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

November 18, 2011 (Shirley Allen)

Monthly sales of new and existing homes, along with home prices, declined in California from September to October, but there is a silver lining – average mortgage payments are at an all-time low according to real estate information provider DataQuick.

An estimated total of 34,087 new and resale houses and condos were sold in the Golden State in October. That was 3.7 percent lower than the 35,404 homes sold in September but 4.3 percent higher than the 32,669 homes sold in October 2010. Historically, California averages 43,528 home sales in the month of October.

The median sales price for a home in California declined 3.6 percent to $240,000 in October from $249,000 in September and was 6.3 percent lower than the median price of $256,000 in October of 2010.

The statewide current cycle peak price was $484,000 in early 2007, while the low during the current cycle was $221,000 in April 2009. Year-over-year home prices have declined for 13 consecutive months.

Distressed property sales accounted for 53.6 percent of all re-sales in October, up from 52.5 percent in September, with homes that had been foreclosed on in the previous twelve months accounting for 34.1 percent of the existing home sales in October. That was an increase from 33.8 percent posted in the previous month of September but was down from 36.7 percent posted in October of 2010.

Short sales increased to 19.5 percent of all re-sales last month, up from 18.7 percent in September. In October of last year, short sales accounted for 18.2 percent of all distressed property sales.

Low mortgage interest rates and falling prices helped California borrowers keep their payments low as the typical monthly mortgage payment for home buyers declined by another $40 from September to October, falling to $924, the lowest payment on record for California when adjusted for inflation since DataQuick began keeping track in 1988.

The payment was also $81 less than the average mortgage payment of $1,005 in October of last year. October’s typical mortgage payment was 66.6 percent lower than it was during the current cycle’s peak in June 2006.

Tags: DataQuick, California, new and re-sale homes, condos, sales, median home prices, distressed properties, short sales, typical mortgage payment

Source:
DataQuick

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

November 18, 2011 (Shirley Allen)

Monthly sales of new and existing homes, along with home prices, declined in California from September to October, but there is a silver lining – average mortgage payments are at an all-time low according to real estate information provider DataQuick.

An estimated total of 34,087 new and resale houses and condos were sold in the Golden State in October. That was 3.7 percent lower than the 35,404 homes sold in September but 4.3 percent higher than the 32,669 homes sold in October 2010. Historically, California averages 43,528 home sales in the month of October.

The median sales price for a home in California declined 3.6 percent to $240,000 in October from $249,000 in September and was 6.3 percent lower than the median price of $256,000 in October of 2010.

The statewide current cycle peak price was $484,000 in early 2007, while the low during the current cycle was $221,000 in April 2009. Year-over-year home prices have declined for 13 consecutive months.

Distressed property sales accounted for 53.6 percent of all re-sales in October, up from 52.5 percent in September, with homes that had been foreclosed on in the previous twelve months accounting for 34.1 percent of the existing home sales in October. That was an increase from 33.8 percent posted in the previous month of September but was down from 36.7 percent posted in October of 2010.

Short sales increased to 19.5 percent of all re-sales last month, up from 18.7 percent in September. In October of last year, short sales accounted for 18.2 percent of all distressed property sales.

Low mortgage interest rates and falling prices helped California borrowers keep their payments low as the typical monthly mortgage payment for home buyers declined by another $40 from September to October, falling to $924, the lowest payment on record for California when adjusted for inflation since DataQuick began keeping track in 1988.

The payment was also $81 less than the average mortgage payment of $1,005 in October of last year. October’s typical mortgage payment was 66.6 percent lower than it was during the current cycle’s peak in June 2006.

Tags: DataQuick, California, new and re-sale homes, condos, sales, median home prices, distressed properties, short sales, typical mortgage payment

Source:
DataQuick

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.