Finance & Mortgage
San Diego 2011 Year of the Short Sale
January 24 2011 12:14 PM EST
Do you see the same things I am seeing written about the 2011 San Diego real estate market? I've seen some phrases that sound so much the same as previous years being repeated. Some of them are:
Real Estate Outlook: New Home Start Decline
January 24 2011 11:58 AM EST
This week brings more bad news for builders, who are seeing another decline in housing starts. The U.S. Commerce Department reports that starts have declined by 4.3 percent. This is the slowest pace since October 2009.
30-Year Mortgage Rates Inch Up
January 22 2011 2:34 PM EST
The rates on 30-year fixed mortgages increased slightly this week, with average rates rising 4.74 percent from 4.71 percent the previous week, Freddie Mac reports.
Study: Bank's Location Key for Lending Success
January 21 2011 2:59 PM EST
Not all banks are created equal and the location of a bank is key to explaining why there are high default rates in one area but not another, says researcher Stephanie Moulton at Ohio State University.
Tame Inflation Figures Leave Mortgage Rates Mixed
January 21 2011 8:39 AM EST
McLean, VA - Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®). The survey results showed mixed results for both long- and short-term rates, with the 30-year rising slightly and the 15-year falling just as slightly.
What Would a Foreclosure Claims Commission Do?
January 20 2011 2:40 PM EST
Sheila Bair, Federal Deposit Insurance Corp chair, called for a new commission that would compensate home owners who have lost their homes to foreclosure because of mistakes lenders made.
Wise to buy a home when inflation rate rises
January 20 2011 2:08 PM EST
According to New Zealand's Tower Investments, purchasing a home in New Zealand is a wise decision with the inflation rate increasing globally. Same Stubbs, chief executive, stated that property investors are wise to invest in properties when inflation begins to rise.
Housing Industry Stands Ready to Protect Mortgage Interest Deduction
January 19 2011 4:30 PM EST
The National Association of Home Builders is the latest housing group to announce it plans to fight Congress to preserve mortgage interest deduction, which is expected to become a target of Congress as it looks to control mounting deficits.
FHFA Plans Big Moves to Rescue Lending
January 19 2011 4:11 PM EST
The Federal Housing Finance Agency said it would consider a new approach to how home loans are managed so banks take on more of the risk, as well as find ways to spark more loan modifications so struggling borrowers can stay in their homes.
Affordability Motivated Buyers in 2010
January 19 2011 3:49 PM EST
A Weichert, REALTORS® survey of 1,261 home buyers who made purchases between July 1, 2010, and Dec. 31, 2010, reveals that 28 percent were motivated by favorable financing, down from 31 percent in 2009 but up from 14 percent in 2008.
Obama admin steps up foreclosure prevention efforts
January 18 2011 5:55 PM EST
The Obama administration on Tuesday stepped up efforts to make it easier for struggling homeowners to renegotiate the terms of their mortgage, although it could be more than a year before such efforts pay off.
Aid Coming for Seniors Unable to Make Payments
January 18 2011 3:03 PM EST
A pilot program by the National Council on Aging sets out to help seniors who have reverse mortgages and who are struggling to pay property taxes and home owners' insurance.
Bank Admits Overcharging Troops on Mortgages
January 18 2011 2:51 PM EST
JP Morgan Chase, one of the nation's largest banks, says it overcharged some 4,000 troops on their mortgages and improperly foreclosed on 14 military families.
Buying a Home for Your Child
January 18 2011 9:39 AM EST
It used to be big deal if Dad bought you a car when you were old enough to drive – but now some parents are buying homes for their kids. It's a great investment and saves them from paying rent, whether they are attending college or university or are striking out into the working world.
Freddie Mac and Foreclosure
January 18 2011 9:33 AM EST
If your mortgage is held by Freddie Mac, then you are one of over 12 million single-family homeowners, or part of approximately 23 percent of the mortgage market. Unfortunately, market-wide, there are over 2.1 million homes in foreclosure, including thousands held by Freddie Mac.
Down Payments Under 30% Risky?
January 14 2011 6:38 PM EST
The mortgage industry is divided over how much down payment a borrower should be required to have in order to be considered less risky.
Man Pleads Guilty in $23M Mortgage Fraud Case
January 14 2011 6:30 PM EST
A New York real estate attorney is the ninth defendant convicted in a mortgage fraud scheme that defrauded banks out of more than $23 million in home mortgage loans.
Mortgage Rates Down for Second Week
January 14 2011 10:49 AM EST
McLean, VA - Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®). The survey results showed lower mortgage rates for both long- and short-term rates, with the 30-year reaching a four-week low.
More Borrowers Face Expiring Lock-in Rates
January 13 2011 3:09 PM EST
Many borrowers opt to lock in mortgage rates when buying a home or refinancing to help protect themselves against any sudden increases in interest rates while the loan is being processed.
Mortgage applications increased last week: MBA
January 12 2011 7:24 PM EST
Applications for U.S. home mortgages increased last week as lending rates eased from recent highs, an industry group said on Wednesday.