Can mortgage rates get any lower? That’s the real question homeowners looking at refinancing and home buyers are asking today after rates hit a new low average of 4.49% on a 30-year fixed rate mortgage, according to Fannie Mae. The rate was a slim five-one-hundredths of a percent lower than last week, setting a new… Continue reading Mortgage Rates Drop Even Lower
Category: Housing Market
Psychology of Home Investing
By Lois A. Vitt, Ph.D. A major principle to keep in mind when considering whether to become an investor in housing is risk tolerance. To answer the question of your risk tolerance level in home investing consider the factual information: Your age, income, experience, savings, future need for cash, and investing time horizon. They are… Continue reading Psychology of Home Investing
Mortgage Walk-aways Growing Anger
Fed up with bankers refusing to negotiate on their mortgages, homeowners are walking away from their homes in rapidly increasing numbers whether they can afford the mortgage or not. A new Housing Predictor survey culled from a sampling of more than fifty counties in 25 U.S. states has determined that homeowners who are upside down… Continue reading Mortgage Walk-aways Growing Anger
Countrywide Record Settlement Covers Only Stock Holders
By Kevin Chiu Countrywide Home Mortgage has agreed to pay $600-million to investors in the largest settlement yet in the mortgage meltdown, but the settlement does nothing to answer a series of class action lawsuits filed against the company by mortgage holders. Countrywide was the nation’s largest mortgage company before encountering problems with its series… Continue reading Countrywide Record Settlement Covers Only Stock Holders
Mortgage Applications Rise Third Straight Week
Driven by an increase in government backed mortgages, applications for home purchases rose for the third straight week, the Mortgage Bankers Association said in its weekly survey. The seasonally adjusted purchase index increased 1.5% for the week ending July 30 th. The Market Composite Index, which measures all mortgage application types, also increased a slight… Continue reading Mortgage Applications Rise Third Straight Week
Tax Credit Again, Poll Says
Nearly a majority of respondents to the latest Housing Predictor poll want the federal government to re-institute the federal tax credit for buyers to re-energize the housing market, which has been in as long as a five year downturn in some parts of the country. The new survey found that 48% of all those polled… Continue reading Tax Credit Again, Poll Says
No Surprises in Housing Depression
The evidence is piling up and it’s almost amazing to see that the mainstream media, which regurgitates Washington, D.C. propaganda daily, is almost coming around. There are no surprises in government data points and the National Association of Realtors Association pending home index showing that home sales are falling miserably. It all shows that the… Continue reading No Surprises in Housing Depression
Warning Signs the House Next Door is a Meth Lab
When Arkansas retiree Franklin Huff stepped onto his front porch with his morning coffee and a newspaper, he didn’t plan to break up a meth ring, especially one operating close to the home he’d lived in for more than 20 years in his own affluent neighborhood. “I noticed black smoke pouring from the chimney, and… Continue reading Warning Signs the House Next Door is a Meth Lab
Foreclosures Rise in July
By Mike Colpitts Foreclosure auctions rose in July, but were down from their peak 14% for the month on residential properties nationally, according to the Realty Trac. However, all initial foreclosure notices issued against properties for the month showed a sharp increase. It was the seventeenth consecutive month total foreclosure activity topped 300,000 units. All… Continue reading Foreclosures Rise in July
Hard Money Lending to Hit $2-Trillion
By Kevin Chiu Homeowners and business owners alike are borrowing money to keep their homes and commercial properties at high interest rates by the droves, sending hard money lenders busily searching for more cash to loan. The business of hard money lending is projected to hit a record $2-trillion in the U.S. within a year.… Continue reading Hard Money Lending to Hit $2-Trillion