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
Category: Banks
Housing Predictor Poll Results
Bankers Should Sell Foreclosures at Discount A large majority of those surveyed say bankers should slash the prices of foreclosed homes and sell them quickly at a discount. Apparently Americans feel the action will help produce a stabilization in the housing market. A huge 70% surveyed in the Housing Predictor opinion poll said bankers and… Continue reading Housing Predictor Poll Results
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
Housing Research Center
Housing Research The Housing Research Center is a consumer resource loaded with expert information on buying, selling and investing in real estate with insight on the many facets of being a homeowner. Find the latest news on the evolving foreclosure crisis and what steps you can take to protect your best interests. Plus get general… Continue reading Housing Research Center
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
Mortgages Slip as Rates Jump
By Ryan Jackson As mortgage rates rose, the number of home loan applications slipped modestly last week after hitting a new 3-year high, according to the Mortgage Bankers Association. The average rate on a conforming 30-year fixed rate mortgage climbed to 3.76% on loans finalized by borrowers. The volume of applications saw a slip of… Continue reading Mortgages Slip as Rates Jump