Government to unload foreclosures
A bulging pipeline is prompting the Obama administration to implement its plan to sell foreclosed properties in bulk to investors who will rent them out, potentially solving the problem of hundreds of thousands of vacant homes dragging down home values. According to CNBNC, the administration is close to announcing the pilot program, which is being
Big whoop from the BLS
We got relatively good news from the December employment report, released today by the Bureau of Labor Statistics. But it had little immediate effect on the mortgage market. That's even better news.
The economy created 200,000 more jobs than it destroyed in December, and the unemployment rate fell to 8.5 percent. In a robust economy, both
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Tagged 30 year fixed mortgage, economy, mortgage rates, Mortgages
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Next president’s to-do list
With the Iowa caucus behind us and the election year in full swing, what's the No. 1 priority for the next president? According to the results of a survey by Trulia.com, a real estate website, it's not the housing crisis. Lower unemployment and reducing the federal deficit come first.
But when asked about housing policy, respondents of
Fed to forecast rates
Want to know when interest rates will rise? The Fed will let you know beforehand.
From now on, each member of the Federal Open Market Committee will tell us his or her rate forecast for the fourth quarter of the year and for the next few calendar years, when the Fed publishes its economic projections. The
Banks offer refinance incentives
If you're still waiting to refinance, now may the time to snag the best deals. Not only are mortgage rates at near-30-year lows, but applications for refinances are down, prompting some banks to seek ways to encourage homeowners to get off the fence.
The Wall Street Journal reports that many smaller and regional banks are kicking
Should wolves manage henhouses?
Should the banks that helped create the foreclosure crisis now be allowed to profit from it by renting out foreclosed homes?
That's the question being asked in response to a Bloomberg report last week that several major financial and investment companies have proposed just such a solution to the Federal Housing Finance Agency.
The FHFA solicited ideas
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Tagged FHFA, Foreclosure, Mortgages
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Should wolves manage henhouses?
Should the banks that helped create the foreclosure crisis now be allowed to profit from it by renting out foreclosed homes?
That's the question being asked in response to a Bloomberg report last week that several major financial and investment companies have proposed just such a solution to the Federal Housing Finance Agency.
The FHFA solicited ideas
Posted in Mortgages
Tagged FHFA, Foreclosure, Mortgages
Comments Off on Should wolves manage henhouses?
2012 housing outlook
Fasten your seatbelts for another "bumpy ride" in the housing market next year, says Freddie Mac's chief economist Frank Nothaft.
The mortgage company, now administered by the government along with Fannie Mae, published its outlook for 2012. While mortgage rates are projected to remain at record lows at least through the middle of the year, there
Retirees get help selling home
Retirees planning to move into continuing care communities are getting some help selling their existing home from an unexpected ally. Retirement communities eager to attract residents have come up with a variety of solutions in the sluggish housing market, according to the Wall Street Journal.
Communities are offering home-staging services, no interest bridge loans, reduced entrance
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Tagged communities, home, Mortgages, retirees, Retirement, selling
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Housing crash dives deeper
The overstatement of existing home sales by the National Association of Realtors, NAR, may have caused a setback to the speed of a housing recovery.
Errors that began in 2007 and accumulated through the housing bust mean that home sales were actually 14.3 percent worse than reported by the NAR. Builders rely on the data to