Sales of new homes are expected to post a modest increase in October, reinforcing data this week that showed the real estate market is regaining its footing after a dramatic collapse.
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As foreclosure casualties mount, the Obama administration is expected to announce additional steps on Monday to get long-term help for troubled borrowers. Under the new initiative, the government will provide more resources for borrowers and will partner with organizations to offer homeowners assistance, a Treasury Department spokeswoman said. The plan also calls for increased transparency and [...]
Demand for U.S. home loans slipped last week even as mortgage rates hovered near record lows, the Mortgage Bankers Association said on Wednesday. A rise in home purchase requests and a drop in refinancing applications, however, were distorted by revisions to the prior week’s data, the industry group said.
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Rates on 30-year fixed-rate mortgages averaged 4.78% this week, matching an all-time low in Freddie Mac’s weekly survey of conforming mortgage rates, released Wednesday.
The mortgage averaged 4.83% last week and 5.97% a year ago. This week’s average matched a low set the week ending April 30.
Rates on 30-year fixed-rate mortgages averaged 4.78% this week, matching [...]
Report shows 10.7 million borrowers are stuck with homes that are worth less than the mortgages they owe. In a sign that more foreclosures could be on the horizon, 23% of people with mortgages owe more than their home is worth, according to a report released Tuesday.
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I am a broker in Irvine, Calif. I recently sold a home which drew five offers in five days. In reviewing the buyers’ financials for all five offers, I noticed that most of their accounts showed a number of large deposits over the previous 30 days from overseas.
It’s doubtful unsuspecting sellers will find themselves in [...]
Hey, did you hear? Monday’s better-than-expected existing-home sales didn’t matter because so-called shadow inventory soon will flood the market and ruin our hopes of a recovery. So whatever you do – don’t buy any housing-related stocks.
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As you probably could have guessed, I’m not going to jump on the bandwagon and say that the housing market is all fine and dandy now that we’ve seen two months of big jumps in existing home sales.
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Sales of new homes rose more than expected last month to the highest level in more than a year as the housing market shows stability after its historic collapse.
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In January, Mike Rowland was so broke that he had to raid his retirement savings to move here from Boston. A week ago, he and a couple of buddies bought a two-unit apartment building for nearly a million dollars. They had only a little cash to bring to the table but, with the federal government [...]
As millions of Americans struggle to hold on to their homes, Wall Street has found a way to make money from the mortgage mess. Investment funds are buying billions of dollars’ worth of home loans, discounted from the loans’ original value. Then, in what might seem an act of charity, the funds are helping homeowners [...]
Homeowners who receive counseling are 60% more likely to avoid foreclosure than those who don’t get help, according to a report this week by the administrator of a foreclosure counseling program funded by Congress.
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Sales of previously owned U.S. homes rose in October at a faster-than-expected pace to the highest in more than 2-1/2 years as buyers rushed to take advantage of a popular tax credit, a survey showed Monday.
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Homeowners who want to take advantage of a new home tax credit worth up to $6,500 when they buy a new place have until April 30, 2010, to get a deal under way. Is it time for you to get moving? Before you decide, see if you can answer “yes” to these four questions.
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Foreclosures are dominating the housing market. Right now, there are 1.5 million such homes for sale, and more are expected to be available soon. That provides both opportunities and pitfalls for bargain hunters.
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Only a tiny percentage of troubled homeowners have received permanent modifications under President Obama’s foreclosure prevention plan, raising concerns about the effectiveness of the $75 billion effort.
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US mortgage delinquency rates and the percentage of loans that entered the foreclosure process jumped in the third quarter, with both reaching record highs, the Mortgage Bankers Association said on Thursday.
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Don’t expect the expanded home buyer tax credit to be a permanent cure for the US housing market. It won’t. Take the spike in mortgage demand created by the tax credit this summer. It was followed by a plunge as the incentive was set to expire, showing how housing’s recovery is tethered to government aid.
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CHICAGO (MarketWatch) — House shopping usually slows down in the winter, as people put their home searches on hold to trim the tree, buy presents to put under it and avoid the chilly weather.
This winter, however, might be different, thanks to the extended — and expanded — first-time home-buyer tax credit.
CHICAGO (MarketWatch) — House shopping [...]
The 30-year fixed-rate mortgage averaged 4.83% for the week ending Nov. 19, down from last week’s 4.91% average, according to Freddie Mac’s weekly survey of conforming mortgage rates. The mortgage averaged 6.04% a year ago.
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