Are 15 yr loans the new norm? from WSJ:


The 15-year loan, long considered a fringe character in the mortgage scene, is riding a wave of popularity.

Thanks to low interest rates, many borrowers are opting for the deal that allows them to pay off their mortgages in half as much time as the traditional 30-year mortgage.

Nearly 16% of the fixed-rate mortgages that lenders sold to Freddie Mac FMCC -0.33%during the third quarter were 15-year loans, up from almost 10% a year prior, according to the agency’s data. (That data doesn’t include refinancings.) And 15-year mortgages accounted for nearly a third of refinanced loans during the first seven months of this year, according to the latest data by CoreLogic CLGX +2.26% . The figure has been climbing since 2007, when they made up just 8.5% of refinancings.

The 30-year mortgage became the standard in lending More

November 2012 Monthly Snapshot

Marketwide Summary Condominium Market Snapshot

Strong demand and a seasonal dip in new listings continue to drive inventory down. Condo and co-op inventory are decreasing at similar rates, down 7% from last month and 24% from last year. Despite the dearth of available listings, contract activity is up from last year for both condos and co-ops. Tight market conditions are limiting negotiability More

3rd Quarter 2012 Corcoran Market Report