Real Estate News

September 1, 2010

August 24, 2010

  • Housing Construction Rises in July

    A weak housing market received a tiny boost from apartment construction last month. But the overall outlook remained dim as applications for building permits fell to the lowest level in 14 months.
    Construction of new homes and apartments rose 1.7 percent last month, according to the Commerce Department. Driving the increase was a 32.6 percent surge [...]

August 22, 2010

  • Fed Unveils Slew of Mortgage Rules

    The Federal Reserve recently unveiled a slew of rules aimed at protecting consumers from abusive lending practices blamed for luring millions into unaffordable home loans.
    The rules include a ban on yield-spread premiums, controversial payments that mortgage brokers have historically received in exchange for guiding consumers toward higher-interest rate mortgages. “This will prevent loan originators from [...]

August 20, 2010

  • More Borrowers Are Paying Down Their Mortgages

    Even with record-low mortgage rates, many refinancing borrowers are choosing to pay down their loan balances rather than borrow more money.
    According to a recent report by Freddie Mac, “cash-in” borrowers – those who reduced their principal balance by paying in additional money at the closing table – represented 22 percent of all borrowers who refinanced [...]

August 14, 2010

  • Buying a Home is More Affordable Now

    Families that have steered cleared of the housing market may want to reconsider their decision to rent instead of own.
    A new report from the federal government indicates that U.S. homes are the most affordable they have been in 10 years. The Obama administration's Housing Scorecard found that a combination of record low interest rates and [...]

August 9, 2010

  • Mortgages Safer But Harder to Get

    Mortgages Safer But Harder to Get
    Now that Senate and House negotiators have reached a compromise on new financial regulations, we know what will happen to the mortgage industry if the bill passes and how it will impact your ability to buy a house. Those freewheeling days of no-money-down, liar loans are dead. Instead you'll find [...]

August 1, 2010

July 30, 2010

  • New Home Sales Jump in June

    New Home Sales Jump in June
    Sales of new homes jumped in June, but it was the second-weakest month on record.
    New home sales rose nearly 24 percent in June from a month earlier to a seasonally adjusted annual sales pace of 330,000. May's number was revised downward to a rate of 267,000, the slowest pace on [...]

July 25, 2010

  • Credit Score Below 500? No FHA Home Loan

    Credit Score Below 500? No FHA Home Loan
    The door that was once wide open to homeownership closed a bit recently when a key government agency announced a proposal to no longer allow mortgages for borrowers with credit scores below 500.
    The Department of Housing and Urban Development (HUD) said that it intends to require borrowers to [...]

July 22, 2010

  • Foreclosures Fall 5%

    Foreclosures Fall 5%
    The foreclosure plague seems to have reached its peak and started to fade, but the recovery is still fragile.
    The number of foreclosure filings of all types — including notices of delinquency, auction notices and repossessions — fell during the first six months of 2010, according to RealtyTrac, the online marketer of foreclosed properties.
    There [...]

July 14, 2010

  • Housing Predictions Were Not So Good

    Housing Predictions Were Not So Good
    Every year, so-called "experts" make their predictions for the housing market. As 2009 came to a close, many experts predicted two things over and over again:
    1. Home prices would fall in the first half of 2010 2. Mortgage rates would be higher in 2010
    Here we are over half way [...]

July 6, 2010

  • House Sizes Down

    House Sizes Down
    Initial results from the US Census are in, and more Americans are choosing smaller living spaces when compared to previous years. Over the last 30 years, census data has shown house sizes gradually increasing. From 2008 to 2009, the average house size is down 51 square feet, to an average of 2,422 square [...]

July 1, 2010

June 25, 2010

  • New Home Sales Plunge 33 Percent With Tax Credits Gone

    New Home Sales Plunge 33 Percent With Tax Credits Gone
    Sales of new homes collapsed last month, sinking 33 percent to the lowest level on record as potential buyers stopped shopping for homes once they could no longer get government incentives.
    The Commerce Department says new home sales fell in May from a month earlier to a [...]

June 24, 2010

  • Existing Home Sales Dip in May But Remain at Elevated Levels

    Existing Home Sales Dip in May But Remain at Elevated Levels
    Following two consecutive months of increases, existing-home sales fell slightly from April to May but were still significantly higher than year-ago levels
    According to the National Association of Realtors report, existing-home sales were at a seasonally adjusted annual rate of 5.66 million units in May, down [...]

June 23, 2010

  • Mortgage Rates and Home Buyers Decline

    Mortgage Rates and Home Buyers Decline
    Mortgage rates continue to decline, continuing to hover near the record lows, while the number of home buyers applying for mortgages has also dropped. Hard to imagine that rates will get lower any time soon.
    The number of homeowners applying to refinance their homes has fallen modestly, however, according to the [...]

June 14, 2010

  • House Passes FHA Reform Act

    House Passes FHA Reform Act
    The House of Representatives has passed House Resolution (HR) 5074, the FHA Reform Act, which establishes a handful of new Federal Housing Administration (FHA) regulations and authorities.
    The FHA insures approved lenders against default-related losses on qualifying mortgages.
    In addition to strengthening the FHA's capital base by raising mortgage insurance premiums, the bill [...]

June 12, 2010

  • Fannie Mae Delinquency Rate Down

    Fannie Mae Delinquency Rate Down
    The percentage of past due loans held by the nation’s largest mortgage financier has fallen.
    In its monthly summary report just released, Fannie Mae said the serious delinquency rate on single-family mortgages in its portfolio dropped to 5.47 percent in March, down 12 basis points from 5.59 percent in February.
    It’s the first [...]

June 3, 2010

  • Home Prices Show Signs of Revival

    Home Prices Show Signs of Revival
    Spring is typically the season when people shop for houses. Many families like to complete their home purchase by the end of the summer so as to not uproot their children during the school year. And let's face it: houses just look more enticing when flowers are out. But the [...]

June 1, 2010

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