70 US Cities Forecast with Higher Home Prices

By Mike Colpitts Nearly mid-way through the year 70 U.S. cities housing markets are forecast to recover in 2012, and some of them are already making successful inroads on their way with appreciating home prices. The cities include five that were forecast by Housing Predictor at the beginning of the year to appreciate in value,… Continue reading 70 US Cities Forecast with Higher Home Prices

Mortgage Rates Hold Steady at Record Lows

By Mike Colpitts Mortgage rates held steady to maintain record low levels, with the 30-year fixed rate mortgage staying at an average of 3.66% for the second week in a row, according to Freddie Mac. The shorter term 15-year fixed loan slipped a single basis point to 2.94%. Many consumers refinancing homes are opting for… Continue reading Mortgage Rates Hold Steady at Record Lows

Feds Pick Firms for Wholesale Home Sell Off

By Mike Colpitts The U.S. government has selected the firms it’s going to sell the first bulk inventory of its foreclosure homes to at wholesale prices. The Federal Housing Finance Agency (FHFA) quietly announced that the winning bidders of its real estate owned (REO) pilot program had been chosen the day before the Independence Day… Continue reading Feds Pick Firms for Wholesale Home Sell Off

Home Sales Extend 11 Month Growth Rate

By Mike Colpitts Despite a decline in existing home sales in May, the actual number of residential sales increased for 11 straight months compared to a year earlier. The dynamic adds fuel to the U.S. housing market recovery as consumers hoping to make home purchases during the summer take advantage of near record low mortgage… Continue reading Home Sales Extend 11 Month Growth Rate

Bear Stearns Finally Settles with Shareholders

By Mike Colpitts Failed Wall Street investment bank Bear Stearns has settled its massive class action lawsuit with stock shareholders for pennies on the dollar four years after the bank failed in a major disgrace at the height of the financial crisis on Wall Street. The settlement has received preliminary approval in U.S. District Court,… Continue reading Bear Stearns Finally Settles with Shareholders

Mortgages Slow on Refinance Pause

By Mike Colpitts Led by a slowdown in refinancing, mortgage applications slowed last week, despite near record low interest rates as consumers pulled back from trying to obtain cheaper loan payments. Refinancing slowed by 8.0% from the previous week, according to the Mortgage Bankers Association. The refinance share of mortgage activity also fell to 79%… Continue reading Mortgages Slow on Refinance Pause

Mortgage Rates Jump After Hitting Record Lows

By Ryan Jackson For the first time in more than two months, mortgage rates jumped higher as lenders reversed course, setting the average rate for a fixed 30-year mortgage at 3.71%, according to Freddie Mac. The shift could signal a change in rates to come. The rate on the 15-year fixed also saw a jump… Continue reading Mortgage Rates Jump After Hitting Record Lows

US Government Moves to Prevent Mortgage Fraud

By Mike Colpitts In an unprecedented move, the agency charged with overseeing the nation’s giant mortgage lenders is taking steps to halt mortgage fraud by the lenders it deals with. The action, by the Federal Housing Finance Agency, is the first of its kind since the financial crisis threw the U.S. economy into chaos. The… Continue reading US Government Moves to Prevent Mortgage Fraud

Hardest Hit States Foreclosures Slow

By Ryan Jackson Three of hardest hit states in the U.S. housing downturn have seen foreclosures drop by more than 25% providing a major sign of improvement for the nation’s housing market. Formal foreclosures in Nevada, Arizona and Michigan have been reduced at the highest level since the housing crisis started more than five years… Continue reading Hardest Hit States Foreclosures Slow