By Mike Colpitts Gulf coast homes and condos on the immediate coastline in the path of the BP oil spill in Alabama and Florida will suffer only a 10% drop in average values as a result of the oil disaster, according to a new Housing Predictor forecast compiled after more than three months of research.… Continue reading Gulf Oil Spill to Drop Homes Only 10%
Category: Statistics
Mortgage Loan Fraud Declines
By Kevin Chiu Mortgage loan fraud has declined 25% since its peak in 2007, according to a survey conducted by Core Logic, a real estate research firm that monitors more than 3,000 local U.S. housing markets. The study was released on the heels of the largest Justice Department crackdown in history on perpetrators of mortgage… Continue reading Mortgage Loan Fraud Declines
Crash in Housing Relief Program
The Michigan housing relief program is battling technological failures to help homeowners. The first day unemployed homeowners could apply for relief to pay their home mortgages, the telephone lines and computer systems were so over-loaded they crashed. Housing Finance Agencies in five states are getting $1.5-billion in relief from the Hardest Hit Fund program started… Continue reading Crash in Housing Relief Program
Mortgage Rate Record Lows
Mortgage rates dipped a marginal one-hundredth of one percent, averaging 4.56% on a 30 year fixed rate loan for the week, the lowest since records have been kept, according to Freddie Mac. The decline for the third straight week marks a weakening in consumer confidence over the economy and housing. Home builder confidence is also… Continue reading Mortgage Rate Record Lows
Home Sales Fall 5% in June
By Mike Colpitts Home sales fell in June for the second straight month on the heels of the federal home buyers’ tax credit expiration, signaling the housing market is still in a national downturn, according to the National Association of Realtors. The fall in sales gives further corroboration to a second dip in the housing… Continue reading Home Sales Fall 5% in June
Mortgage Applications Rise
Applications for home mortgages and refinances are soaring higher, showing an increase in activity in home sales and refinancing as a result of near record low loan rates, according to the Mortgage Bankers Association. Low rates coupled with lower home prices are producing the rise in applications. The volume of home re-sales, however, scheduled to… Continue reading Mortgage Applications Rise
Over Whelming Majority Feel U.S. in Economic Depression
An over whelming majority of Americans feel the U.S. economy is in an economic depression, despite government and mass media reports to the contrary. A huge 87% of all those surveyed in the latest Housing Predictor opinion poll say the economy is in a depression. The down beat poll found that only 13% surveyed in… Continue reading Over Whelming Majority Feel U.S. in Economic Depression