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
Category: Housing Market
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
Half of Homeowners Qualify for New Mortgage
By Mike Colpitts Only about half of all homeowners would qualify to buy a new mortgage under current more restrictive mortgage lending guidelines. In the U.S. 54% of homeowners with a mortgage would qualify to put 20% down from the sale of their present home, according to Core Logic, which researches the mortgage industry. The… Continue reading Half of Homeowners Qualify for New Mortgage
New U.S. Mortgage System Lost in Wasteland
By Mike Colpitts The new home builders association released a proposal to redesign the U.S. housing finance system, which would eventually wipe-out Freddie Mac and Fannie Mae, the nation’s giant mortgage lenders. The National Association of Home Builders proposal is similar to others that have been offered by industry groups lost in a wasteland for… Continue reading New U.S. Mortgage System Lost in Wasteland
Law Firm Settles in Robo Signing Scheme
By Kevin Chiu A Florida law firm is the first in the U.S. to agree to pay a settlement in the rapidly expanding robo signing scheme for reportedly mishandling foreclosures. The law offices of Fort Lauderdale based Marshall C. Watson, which handled one of the largest volumes of foreclosures for Freddie Mac until the government… Continue reading Law Firm Settles in Robo Signing Scheme
Wall Street Bankers Should Be Prosecuted, Survey Shows
In an over-whelming show of support Americans want those responsible for sending the U.S. economy into a massive downturn prosecuted by federal authorities, according to a new opinion poll. The finding was determined through the latest Housing Predictor poll, which surveyed visitors over Wall Street bankers actions related to the near freeze of the U.S.… Continue reading Wall Street Bankers Should Be Prosecuted, Survey Shows
Mortgage Rates Jump Higher Amid Unrest
By Kevin Chiu Pressured by unrest in the Middle East and fallout over disasters in Japan, mortgage rates jumped higher during the week as lenders became increasingly concerned about world finance markets, according to Freddie Mac. The average rate on a fixed 30-year mortgage had a jump of .05 basis points to an average of… Continue reading Mortgage Rates Jump Higher Amid Unrest
New Homebuilders Brighter Future
By Kim Olson With the real estate market soft many homebuilders, especially large corporate homebuilders are still struggling. Real estate analysts say that the recovery will continue to be slow through 2011, and may in fact be a bit longer. Inventory of newly built homes is still high, with pending and closed sales down. Prices… Continue reading New Homebuilders Brighter Future
Trump Should Hang it Up for President
By Kevin Chiu It was a decisive poll. Apparently Americans have seen enough of Donald Trump. A huge percentage surveyed say they don’t want to see “The Donald” run for U.S. President and he should hang it up. Nearly two out of three or 64% polled said the real estate billionaire should not run for… Continue reading Trump Should Hang it Up for President