Category: 2012 Housing Market

Foreclosures Drop But on Pace to Hit Record

By Mike Colpitts Foreclosure filings dropped a slim 2% in February, but are still on pace to hit a new record volume for 2012, despite an increase in short sales by lenders on homes in default of their mortgages, according to RealtyTrac. February foreclosure activity in the 26 states with judicial foreclosures rose 2% from… Continue reading Foreclosures Drop But on Pace to Hit Record

Underwater Homeowners Program Launches Second Leg

By Kevin Chiu A former Goldman Sachs banker, who launched an innovative company more than two years ago in an effort to save millions of underwater homeowners from foreclosure, is expanding his firm’s program to include homeowners with second home mortgages. The firm negotiates with underwater homeowners in an effort to reduce the number of… Continue reading Underwater Homeowners Program Launches Second Leg

Record Low Mortgage Rates Drive Refinances

By Mike Colpitts Refinances jumped 13% in the last week to trigger a major jump in mortgage refinancing as consumers took advantage of record low mortgage rates, according to the Mortgage Bankers Association. The drop in rates, however, seemed to do little to get more home purchasers off the fence to take out applications for… Continue reading Record Low Mortgage Rates Drive Refinances

Plan to Wind Down Freddie Mac and Fannie Mae

By Mike Colpitts For the second time in a year, a branch of the federal government has introduced a plan to wind down the lending of mortgage giants Freddie Mac and Fannie Mae. The acting administrator of the Federal Housing Finance Agency sent Congress a strategic plan to wind down the lenders over the next… Continue reading Plan to Wind Down Freddie Mac and Fannie Mae

Mortgages Fall Four Weeks in a Row

By Mike Colpitts Mortgage applications fell for the fourth straight week, indicating a slowdown in the volume of home mortgages for refinancing and home purchases is sustaining a sluggish pattern, despite near record low mortgage rates, according to the Mortgage Bankers Association. The fall in applications, however, was only 1.2% for the Market Composite Index,… Continue reading Mortgages Fall Four Weeks in a Row

2012 New Hampshire Housing Market

Home prices have been falling in New Hampshire for almost five years, ever since the housing market reached its peak. However, an increase in sales, prompted by near record low mortgage rates and a stronger local economy will send housing prices higher this year. New Hampshire’s economy, once hard hit and ailing, is growing at… Continue reading 2012 New Hampshire Housing Market

Single Women May Be A Key to Reviving Housing Market

By Kiesha Joseph According to a report by the Joint Center for Housing Studies, single women have been scooping up property like never before. This is great news for not only single women, but for the US housing market as a whole. Many expert realty groups, including the National Association of Realtors, believe single ladies… Continue reading Single Women May Be A Key to Reviving Housing Market

Pennsylvania Lender to Pay $3.9 Million Fine

A Pennsylvania mortgage lender has agreed to pay a fine of $3.9 million to settle a lawsuit for lying to federal mortgage officials. The suit was filed in the Central District of California, alleging that officials of Capmark Finance LLC of Horsham, Pennsylvania made a series of false statements in connection with two nursing home… Continue reading Pennsylvania Lender to Pay $3.9 Million Fine

Clean Air Produces Higher Home Prices

Housing prices get a major lift from reductions of smog and other pollutants, according to a study conducted by the National Bureau of Economic Research. After all, given the choice who wouldn’t want to live in an area with plenty of clean air to breathe each day? The study was gathered by researchers Kenneth Chay… Continue reading Clean Air Produces Higher Home Prices