Category: Banks

Long Haul Recovery Forecast in U.S. Housing

The U.S. housing market won’t return to healthy levels of activity in the majority of the Nation’s real estate markets until at least sometime in 2009, perhaps even later, according to the latest analysis of Housing Predictor. The housing market recovery will be a long haul. A series of interest rate cuts are expected by… Continue reading Long Haul Recovery Forecast in U.S. Housing

Housing Crisis in U.S. Worst Since the Depression

Grab a Parachute It has exploded into the worst housing crisis since the Great Depression. Home owners with near perfect credit scores are having their homes foreclosed. The subprime crisis has taken a fast leap into the conventional mortgage market, and little is being done to bring it to a halt. The infamous frauds at… Continue reading Housing Crisis in U.S. Worst Since the Depression

Winning in Real Estate Crisis

by Robert Jones Construction workers are re-tiling their bathrooms, real estate agents are taking jobs as waiters and waitresses, and mortgage brokers are sitting around watching TV. The collapse of the housing market has been brutal on just about everyone, it seems, with any connection to the industry. Well, almost everyone. Attorneys are busier than… Continue reading Winning in Real Estate Crisis

Foreclosures Sell 32% Under Rest of Market

By Mike Colpitts Foreclosures or bank owned homes sold at an average discount of 32% below similar homes in the same neighborhood during the second quarter of the year, according to RealtyTrac. The price was two percent lower than a year ago. Foreclosure sales accounted for 23% of all U.S. residential sales during the second… Continue reading Foreclosures Sell 32% Under Rest of Market

Fannie Mae, Freddie Mac to Unload Distressed Mortgages

By Mike Colpitts Mortgage giants Fannie Mae and Freddie Mac are expected to start unloading hundreds of thousands of distressed mortgages following a Treasury Department announcement ordering the reduction of troubled mortgages. Despite a political bottleneck in Congress over how to handle the two lenders, the action “will help expedite the wind down of Fannie… Continue reading Fannie Mae, Freddie Mac to Unload Distressed Mortgages

Mortgage Rate Hike Threatens Housing Recovery

By Mike Colpitts For the first time in more than a year, mortgage rates have risen three straight weeks as growing instability over the  U.S.  economy jittered bond markets. U.S. Treasuries rose from a record low of 1.38% on the benchmark 10-year bond to more than 1.85%. The increased yield is good news for investors… Continue reading Mortgage Rate Hike Threatens Housing Recovery

Formal Foreclosures Fall 21 Straight Months

By Mike Colpitts Formal foreclosures fell for the 21st straight month in July as repossessions on U.S. residential properties ran into additional snags. Lenders completed 53,654 foreclosures during the month, a 1% fall from June and a 21% drop from a year ago, according to RealtyTrac. Bank owned REO activity also fell on an annualized… Continue reading Formal Foreclosures Fall 21 Straight Months