Real Estate News

July 20, 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 19, 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 9, 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 5, 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 30, 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 29, 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 22, 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 18, 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 11, 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 7, 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

May 26, 2010

  • Housing Index At Highest Level Since ‘07

    Housing Index At Highest Level Since ‘07
    U.S. homebuilders are growing more optimistic about their fortunes, with many expecting improved sales and customer traffic in coming months despite the end of homebuyer tax incentives.
    The government incentives helped to boost home sales this spring as many buyers raced to purchase a home in time to qualify before [...]

May 23, 2010

  • Reports Show Declines in Mortgage Defaults

    Reports Show Declines in Mortgage Defaults
    Two reports examining trends in serious delinquencies — home loans on which borrowers are at least 60 days behind on payments — may finally be starting to decline.
    A report from the credit data firm TransUnion said such delinquencies fell slightly across the nation in the first quarter of 2010 — [...]

May 19, 2010

  • Pending Home Sales Increase in March

    Pending Home Sales Increase in March
    The spring homebuying season may be gaining momentum, according to the latest data from the National Association of Realtors.
    The number of contracts signed, which is measured by the company's Pending Home Sales Index, reached 102.9 in March. This is a 5.3 percent increase over the previous month's 97.7, according to [...]

May 11, 2010

  • Fewer Homeowners Falling Delinquent

    Fewer Homeowners Falling Delinquent
    A report published by Lender Processing Services (LPS) analyzing homeowner’s performance on their mortgages as of March 2010 shows that, while foreclosure and mortgage delinquency rates are still near record levels, the pace may be slowing with fewer new loans becoming delinquent and an increase in the number of people bringing their [...]

May 5, 2010

  • More Evidence of a Bottom in Housing

    More Evidence of a Bottom in Housing
    According to recently released data, U.S. housing starts have risen 30% from their all-time low in April '09. In addition, building permits increased 38% over the same period. And not surprisingly, the Bloomberg index of home builders' stocks bottomed last July and has since risen over 50%. The prices [...]

May 1, 2010

April 26, 2010

  • Car, Home and Credit Card Interest Rates to Increase

    Car, Home and Credit Card Interest Rates to Increase
    Interest rates are beginning to rise once again as the economy begins to take hold once more. This will place many consumers in a bind who are still struggling to make payments on things they own.
    Economists are predicting that rates are being raised to prevent further inflation. [...]

April 22, 2010

  • Making Sacrifices in a Tough Economy

    Making Sacrifices in a Tough Economy
    More than two thirds of Americans who've been unable to sell their home and buy one better fitting their needs have cut back on household expenses such as food, entertainment and clothing in order to pay their mortgage.
    Homeowners who have fallen on financial hard times have made other sacrifices and [...]

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