Category: 2011 Housing Market

2011 Rhode Island Housing Market

Sluggish home sales and high market volatility leaves Rhode Island’s housing markets in trouble even as the federal government’s Hardest Hit program injects $80-million in cash into the ailing economy. High joblessness and incredibly low home sales volume are hurting the economy, but some under-employed and unemployed workers will get help from the federal government… Continue reading 2011 Rhode Island Housing Market

2011 Alaska Housing Market

The numbers tell the story in Alaska. A mix of low risk mortgages helped to protect housing markets from the foreclosure crisis and other troubled home sales. Half as many homeowners in Alaska purchased subprime and adjustable rate mortgages as buyers bought more conservative mortgages, resulting in fewer foreclosures. The Alaska Department of Labor announced… Continue reading 2011 Alaska Housing Market

Mortgage Rates Climb as Loan Applications Rise

By Mike Colpitts Fixed mortgage rates rose for the third straight week slightly as pent-up demand for housing got more applicants to apply for home mortgages. The rate on a 30-year fixed rate loan rose marginally just one basis point for the week to 4.81%. However, rates for all other types of mortgages declined for… Continue reading Mortgage Rates Climb as Loan Applications Rise

California Woman May Receive Damages in Foreclosure Suit

By Kevin Chiu A California woman whose home was foreclosed may be able to obtain financial damages as a result of wrongly being dealt with by U.S. Bank in the foreclosure of her home, a federal court has ruled. The lender reneged on its promise to negotiate with the woman and her husband over their… Continue reading California Woman May Receive Damages in Foreclosure Suit

Federal Housing Agency Orders Halt to Home Resale Fees

By Mike Colpitts U.S. mortgage giants Freddie Mac and Fannie Mae will be halted from providing mortgages on homes that hold home resale fees under a new federal mandate. The decision, ordered by the Federal Housing Finance Agency, which oversees both government backed lenders, was ordered late Tuesday. It was contained in a proposal made… Continue reading Federal Housing Agency Orders Halt to Home Resale Fees

Underwater Homeowners Receive Little Aid

By Mike Colpitts Underwater homeowners struggling to pay mortgages are getting little aid from an Obama administration program aimed at helping upside down mortgage holders at risk of losing their homes nearly a half a year after the program went into effect. There have been just 40 U.S. homeowners helped by the FHA short refinancing… Continue reading Underwater Homeowners Receive Little Aid

Silicon Valley in Recovery

By Mike Colpitts Led by high tech giant Apple, California’s Silicon Valley is coming back to life after reaching the slowest real estate downturn in its existence. Apple, the second largest U.S. company based on stock market value, acquired Hewlett Packard’s old commercial office setting in Cupertino, and other large tech corporations are leasing offices… Continue reading Silicon Valley in Recovery

Mortgage Rates Drop Lower

By Mike Colpitts Driven by a spike in Treasury prices, mortgage rates saw a major drop lower as worries over a Greek default and the Federal Reserve’s dim economic outlook rattled financial markets. Rates paid to investors seeking the safest investment in Treasury bonds reached the lowest yield in four months Monday, hitting 1.84% on… Continue reading Mortgage Rates Drop Lower