Category: Statistics

Housing Recovery Clouded in Oil Prices

By Kevin Chiu The jump in oil prices and the likelihood for further financial belt-tightening suggest less economic momentum developing than previously believed in the U.S. in 2011 delaying a full-fledged housing recovery, according to an economic outlook released by Fannie Mae. Economic growth for the year was lowered to 3.5% — a down grade… Continue reading Housing Recovery Clouded in Oil Prices

Real Estate Investors Picking Up Deals

By Kim Olson The real estate industry is in a slump especially when it comes to homeowners who are trying to sell their own homes, but beginning this year the investment sector of the housing market showed a major upturn with 19% of residential purchases being made by investors, according to the National Association of… Continue reading Real Estate Investors Picking Up Deals

Mortgage Applications Rise Slightly

Mortgage applications for refinances and home purchases rose slightly for the week as the up and down spiral of the real estate recovery demonstrated its bumpy ride, according to the Mortgage Bankers Association. The leading index of mortgage applications in the U.S. moved a minor 2.7% higher during the week. The rise in applications came… Continue reading Mortgage Applications Rise Slightly

Homeowners Protest Paying Credit Cards Before Mortgages

By Mike Colpitts Homeowners are fed-up and they are protesting by the way they are paying their bills. A growing volume of homeowners are paying credit card bills before making payments on their mortgages, according to a new study by Trans Union credit reporting agency. It’s a trend that has been widely reported over the… Continue reading Homeowners Protest Paying Credit Cards Before Mortgages

Home Purchases Move Higher

By Kevin Chiu New home purchases moved higher for the week as indicated by an increase in mortgage applications, while refinances dropped, according to the Mortgage Bankers Association. The seasonally adjusted purchase index had a 6.7% rise to its highest level of the year as warmer spring time weather made it more comfortable for home… Continue reading Home Purchases Move Higher

Flood Insurance Reform to Raise Rates

By Mike Colpitts Legislation being debated to reform homeowners federal flood insurance would renew the program for five years, and is likely to raise the rates on insurance premiums to over come the $18.3-billion deficit facing the National Flood Insurance Program largely due to damages paid as a result of hurricanes in 2004 and 2005.… Continue reading Flood Insurance Reform to Raise Rates

Underwater Homeowner Relief Program Extended

By Kevin Chiu As the housing relief programs implemented by the Obama administration come under attack in Congress, the refinancing program administered by Fannie Mae and Freddie Mac to help underwater homeowners is being extended in efforts to aid more upside down homeowners. The underwater relief program has become a vital component in the Obama… Continue reading Underwater Homeowner Relief Program Extended

Home Price Direction Fact and Fiction

By Kim Olson Home prices have been moving in one direction in most areas of the U.S. and that isn’t comforting homeowners. It’s a fact that most areas of the nation are seeing more home sales but only because prices have come down so much because of foreclosures, and other bank-assisted sales. What can prospective… Continue reading Home Price Direction Fact and Fiction

Bankers Oppose Mortgage Retention Proposal

By Kevin Chiu Six federal agencies are proposing a rule that would require banks and mortgage companies to retain at least 5% of the mortgages they make, and not sell them to the investment market to hedge against credit risk. But the proposal is being opposed by the banking industry as part of the Dodd-Frank… Continue reading Bankers Oppose Mortgage Retention Proposal