Housing News: U.S. Home Prices Double Dip & L.A. Sues Deutsche Bank over Evictions
Posted on May 5th, 2011
Fears of a housing double dip were realized on Thursday with news that the U.S. had officially seen home prices drop below the lowest point of the recession. And in related news, the city of Los Angeles is suing Deutsche Bank for its illegal foreclosure activities, including the improper maintenance of its properties.
U.S. Suffers Official Housing Double Dip
A new report from Clear Capital has confirmed fears of a housing double dip.
Tags: Dip, Double Dip, Home Prices
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Mortgage Rates: Aggressive But Not Better
Posted on April 30th, 2011
Home loan borrowing costs ended last week near their most aggressive levels of the year. Little has changed from Friday…check out this chart of home loan borrowing costs.
Mortgage Rates: Stuck in Familiar Territory
Posted on April 24th, 2011
Today’s much anticipated high risk event, the FOMC Statement and subsequent press conference, leaves fence-sitters unscathed as no changes in home loan borrowing costs were seen before or after headline news was released. Best Execution 30-year fixed mortgage rates are the same as they were yesterday. Those who locked ahead of the event didn’t “miss out” on additional gains. Those who’ve been more inclined to float received no reward for doing so…
Insider Perspective: Reg Z Reform, Compliance Procedures, Realtor Pay
Posted on April 20th, 2011
For anyone out there who thinks the mortgage biz in the US has become confusing, spend 15 seconds scrolling down this story on establishing the mortgage business in Saudi Arabia. “The Saudi government target is for 80 percent home ownership by Saudi citizens by the year 2024…” Sound familiar? SaudiMortgageProposals
One question that agents are often asked about is, “Do you still make loans on condos?” Especially if the borrower has less than 10% to put down, this almost automatically puts them into running for an FHA loan. The HUD site that agents turn to first, to see if the project is even approved, is CondoLook.
March Existing Home Sales Increase Overall but Drop for First-Time Homebuyers
Posted on April 19th, 2011
U.S. existing homes sales increased 3.7 percent in March, according to a new report from the National Association of Realtors. The increase was largely attributed to cash purchases and buys made by investors. First-time homebuyers, on the other hand, steered clear.
First Timers Not Ready to Buy
As the housing market looks for any sign up improvement, it received good news on Wednesday with the report that sales of existing homes increased last month to a seasonally-adjusted annual rate of 5.1 million, up from 4.92 million in February.
The largest contributors to increased existing sales were foreclosures and short sales, which represented 40 percent of all sales. De