Interest Rates Hit New Low in 2011

By Mike Colpitts Mortgage interest rates hit a new low for the year declining to 4.61% on a 30-year fixed rate loan, a slight 0.02 margin lower from a week earlier, while the rate on a 15-year fixed rate mortgage also dropped to a new low in 2011. The heavily watched Freddie Mac averages have… Continue reading Interest Rates Hit New Low in 2011

Foreclosures Fall Seven Straight Months, But Still at Crisis Level

By Kevin Chiu Hampered by internal bank and mortgage servicing company delays, foreclosure notices fell to a 40 month low in April, declining 9% from the prior month and 34% from a year ago. The slowdown represented the seventh straight month of delays in the foreclosure crisis as a result of the moratorium put in… Continue reading Foreclosures Fall Seven Straight Months, But Still at Crisis Level

Mortgage Rates Shoot Up As Applications Rise

By Kevin Chiu The volume of home mortgage applications for refinancing and purchases rose slightly higher for the week as mortgage rates took an abrupt jump. The rate on a fully executed 30-year fixed rate loan shot up 0.09 for the week, according to the Mortgage Bankers Association survey. Mortgage rates had been on a… Continue reading Mortgage Rates Shoot Up As Applications Rise

Homeowner Associations May Hit Record Lawsuit Volume

By Mike Colpitts Homeowner and condominium associations straddled with high debt in the real estate crash are resulting in at least thousands of member-owners refusing to pay monthly fees, and may reach record lawsuit volume in U.S. courtrooms. The development was determined during a routine Housing Predictor survey of markets monitored across the nation. The… Continue reading Homeowner Associations May Hit Record Lawsuit Volume

Survey Finds Congress Should Force Banks to Modify Mortgages

Congress should force bankers to modify mortgages for homeowners who are in trouble on their home loans instead of foreclosing, a new Housing Predictor survey has found. It’s been a subject of debate since the housing mess started more five years ago in many regions of the country, and especially since foreclosures hit record all-time… Continue reading Survey Finds Congress Should Force Banks to Modify Mortgages

Disaster Housing Relief Provided in 8 States

By Mike Colpitts As anxieties rise with the floodwaters along the mighty Mississippi River and residents flee for higher ground, the U.S. government is gearing up for the largest disaster aid commitment it has ever made. The Federal Emergency Management Agency has already dedicated funds to help disaster victims in eight states, including immediate foreclosure… Continue reading Disaster Housing Relief Provided in 8 States

Home Sales Decline Slightly in April

By Kevin Chiu Home sales declined slightly in April, despite favorable home buying conditions, falling just 0.8% to a seasonally adjusted rate of 5.05 million units annually, but are still nearly 13% off the pace of last year when the home buyer tax credit was in effect, according to the National Association of Realtors. Existing… Continue reading Home Sales Decline Slightly in April

Real Estate Brokerage Helping Thousands Monthly

By Mike Colpitts A small real estate brokerage is waging a war against foreclosures, helping thousands of homeowners’ monthly by training real estate agents to coordinate short sales and get troubled homeowners out of their problem plagued mortgages. “We’ve directly assisted tens of thousands of homeowners,” said First Coast Realty Associates broker Mike Linkenauger. “We… Continue reading Real Estate Brokerage Helping Thousands Monthly

Homeowners Move to Fixed Rate Mortgages

By Kevin Chiu Nervous about their financial futures and holding on to their homes, consumers are shedding debt and transitioning to fixed rate mortgages in unprecedented numbers. An over-whelming 95% of refinances were fixed rate mortgages during the first quarter of the year, according to Freddie Mac. Millions of homeowners have been unable to refinance… Continue reading Homeowners Move to Fixed Rate Mortgages