Category: Housing Market

Low Rate Mortgage Lock Out

By Kevin Chiu Mortgage rates hit 4.42% for a 30-year fixed rate mortgage, the lowest on record. But a growing number of homeowners are ignoring the lower rates locked out from obtaining them due to more restrictive mortgage underwriting guidelines. The new lower rates may make great headlines and TV news fodder but they’re doing… Continue reading Low Rate Mortgage Lock Out

Home Market Recovery in 7 States

It may seem like it’s been a gruelingly long time, but housing markets are recovering from their crash in seven states, adding another two states to the list in recovery. Nebraska and Pennsylvania join the line-up leading the U.S. out of the downturn. Despite a national slow down in home sales since the tax credit… Continue reading Home Market Recovery in 7 States

Green Energy Housing Renovations Receive $250 Million

By Kevin Chiu A green energy program for single family housing has been supplemented with a program for apartments, providing $250 million to reduce energy costs nationally. The government program provides up to 30% tax credits for homeowners to take advantage of the American Recovery and Reinvestment Act. The funding is part of the Housing… Continue reading Green Energy Housing Renovations Receive $250 Million

Millions Walking Away from Mortgages Could Still be Helped

A non-government backed mortgage rescue program started to stop homeowners walking away from mortgages is gaining momentum with the addition of Ohio’s Hardest Hit Fund. The state is one of the most severely impacted in the foreclosure crisis. The Responsible Homeowner Reward program has been included as an alternative resource in the state’s Hardest Hit… Continue reading Millions Walking Away from Mortgages Could Still be Helped

Mortgage Rates Drop to New Low Again

Mortgage rates dropped to another record low at 4.42% for the week, the ninth straight week the 30-year fixed rate mortgage has moved lower or stayed the same, according to Freddie Mac. The 5-year adjustable rate mortgage remained at the same rate it was a week ago. The 30-year mortgage moved down just .02% for… Continue reading Mortgage Rates Drop to New Low Again

Refinances Lead Mortgage Surge

A huge surge in the volume of refinancing applications, triggered by record low mortgage rates may indicate improving market conditions are developing. The combined Mortgage Bankers Association index increased 13% over the previous week. Refinancing rose a mammoth 17.1% for the week to reach its highest level since May of 2009 as all-time low mortgage… Continue reading Refinances Lead Mortgage Surge

Housing Conference to Fix Mortgage Giants

By Mike Colpitts Treasury Secretary Tim Geithner told attendees at the White House conference called to fix the nation’s mortgage giants, Fannie Mae and Freddie Mac the work to repair the nation’s mortgage business needs to be a bi-partisan effort. “Fixing this system is one of the most consequential and complicated economic policy problems we… Continue reading Housing Conference to Fix Mortgage Giants

Federal Reserve Issues New Mortgage Rules

The Federal Reserve has announced new rules in an effort to protect consumers from abusive mortgage lending practices, which led to the real estate collapse. The regulations are part of the new financial reform legislation mandated by Congress. The new rules apply to mortgage originators, brokers and companies, including banks and mortgage firms employing them.… Continue reading Federal Reserve Issues New Mortgage Rules

Moral Issue or Misery Loves Company in Housing

Whether it’s a moral issue to debate or people really enjoy company in their own misery is hard to tell. But a new Housing Predictor opinion poll found that a large majority feel mortgage holders who are foreclosed should be held responsible for their debts. The poll may be the most telling indication yet of… Continue reading Moral Issue or Misery Loves Company in Housing