Category: 2011 Housing Market

California Realtor President Requests Aid in Short Sales

By Kevin Chiu Short sales were hardly ever heard of before the real estate collapse, but these days bank assisted short sales, in which lenders take less than what is owed on a mortgage are failing on at least 40% of those attempted, according to a Realtors organization. In a letter published in seven California… Continue reading California Realtor President Requests Aid in Short Sales

Freddie Mac Expands Mortgage Lending

By Kevin Chiu In an effort to stimulate more mortgage lending, Freddie Mac has extended its eight year agreement with independent banks, giving more than 5,000 lenders more access to funds to generate additional home loans. The program is targeted at independent community banks, which are facing more restrictive lending guidelines as a result of… Continue reading Freddie Mac Expands Mortgage Lending

Mortgage Rates Jump 3 Straight Weeks

By Kevin Chiu Mortgage rates jumped higher for the third straight week as home buyers became skittish about making purchase decisions amid international unrest and doubts about the U.S. economy, according to Freddie Mac. The jump in interest rates on the bench mark 30-year fixed rate loan moved ever closer to 5% at 4.86%, five… Continue reading Mortgage Rates Jump 3 Straight Weeks

Mortgage Interest Rates Drop on Japan Fears

By Mike Colpitts Interest Rates on home mortgages dropped as a result of investor worries over the disaster in Japan and fears of contagion over financial markets falling across the world. Mortgage rates showed a drop across all types of loans offered to home borrowers, according to Freddie Mac. The average rate on a 30-year… Continue reading Mortgage Interest Rates Drop on Japan Fears

Chain Reaction Slams World Housing Markets

By Mike Colpitts The world financial system is in a chain reaction collapse and if drastic changes aren’t implemented, the structure of the world’s economy will be changed forever, according to economist Lyndon LaRouche, who ran for U.S. President eight times, more than any other candidate for the nation’s highest office. “I said that in… Continue reading Chain Reaction Slams World Housing Markets

Foreclosures Drop to 3 Year Low

By Mike Colpitts Driven by bank moratoriums on foreclosures triggered by lenders’ mistakes, foreclosure activity dropped to a three year low in February as mortgage servicing companies slowly resumed their repossession procedures. In the 26 states that have judicial foreclosure processes, where lenders temporarily called-off foreclosures as a result of faulty legal paperwork, default notices… Continue reading Foreclosures Drop to 3 Year Low

Back Slapping Has Little Housing Market Impact

The self congratulatory back slapping the Obama administration is giving itself for efforts made in the nation’s housing market crisis is making little impact on the market, and nobody else is crediting the administration. The government’s data shows progress on the real estate market overhang and shows home sales are rising, but little help when… Continue reading Back Slapping Has Little Housing Market Impact

Home Purchases Stall as Refinancing Grows

Applications for new home mortgages dropped as shopping for homes came to a stall last week, according to the Mortgage Bankers Association. However, refinancing increased to the highest level since last year. The seasonally adjusted purchase index fell 4% from the previous week, while refinances rose 0.9% to hit the best threshold since December. The… Continue reading Home Purchases Stall as Refinancing Grows

Best Bargain Real Estate Cities

By Mike Colpitts The best U.S. cities to find a bargain in real estate are made up of some of the hardest hit communities in the nation’s housing market downturn. Housing Predictor analysts scoured the nation in efforts to find the best bargains in housing, and set up a rigid set of requirements to meet.… Continue reading Best Bargain Real Estate Cities