Category: States Market

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

A proposal that would ban the nation’s mortgage giants from lending on homes that have an underlying 1% resale fee may be writing a federal death warrant for the highly controversial practice. Home resale fees have been outlawed by legislatures in 18 states. The fees are likened to an additional tax charged every time a… Continue reading Home Resale Fees ‘Tax’ May Die

The timing is right to invest in housing markets in the majority of the country, according to a new Housing Predictor analysis. For years we’ve wanted to issue this forecast, and the time has finally arrived. Markets in the majority of the country have seen home prices fall to levels that haven’t been seen for… Continue reading Forecast: Time to Invest in Housing

Fixed rate mortgages for a 30-year loan dropped to an amazing record low rate of 4.44% for the week, according to the weekly Freddie Mac survey nationally. The rate on a 5-year adjustable rate mortgage also fell to a new low as bankers slashed rates hoping to stimulate the housing market. The rate on a… Continue reading Interest Rates Set Amazing Record Low

By Kevin Chiu Homeowners struggling with unemployment and underemployment as a result of the economic crisis are being thrown a life line by two new foreclosure prevention programs. The White House announced the deployment of the programs as part of its Hardest Hit Fund rescue relief plan to stem the record rate of foreclosures. The… Continue reading Hardest Hit Fund Throws Life Line, Expands to 17 States

Applications for home mortgages and refinancing barely budged for the week, growing just four-tenths of one percent, according to the Mortgage Bankers Association, despite the lowest mortgage rates in the surveys history. Refinances grew at the highest rate, but home purchase applications were marginal. The refinance index rose just 0.6% from last week and the… Continue reading Mortgage Applications Barely Budge on Low Rates

By Kevin Chiu Fueled by record low mortgage rates and lower home prices, flipping homes is enjoying a resurgence from California to Maine, despite the worst housing downturn in more than a half century. Buying, renovating and then quickly reselling homes had its hey-day during the real estate boom, but many flippers are now reporting… Continue reading Home Flipping Gets Profitable

By Kevin Chiu Freddie Mac, one of the nation’s two troubled mortgage giants reported a net loss of $4.7-billion today, a better $2-billion less than its loss in the last quarter. The total loss reported to shareholders was $6-billion after holders of its stock were paid $1.3-billion in dividends. The loss equates to $1.85 a… Continue reading Freddie Mac Loses Better $4.7-Billion

Even before the program to refinance underwater home mortgages is launched, a government analysis shows that fewer homeowners will be aided than government officials first announced. The HUD announcement to launch its Federal Housing Administration underwater refinancing program estimated that 3 to 4 million homeowners would be aided through the plan. But a HUD Regulatory… Continue reading Mortgage Refinancing Program Watered Down