September 26, 2011 (Chris Moore) Consumer spending accounts for about 70 percent of all economic activity in the United States and although much of the media plays up the importance of housing in an economic recovery, the fact remains many Americans suffer from the same affliction our government does…too much spending and not enough income. [...]
September 26, 2011 (Jeff Alan) Freddie Mac completed 8,639 loan modifications in the month of August, the lowest total amount of modifications completed in any month since the beginning of the year according to the recently released Monthly Volume Summary for August. […]
September 26, 2011 (Shirley Allen) Mortgage interest rates declined slightly last week with the 5/1 ARM hitting yet another record low and the latest economic actions taken by the Fed could lead to even lower mortgage rates in the coming weeks and months according to the data collected by LendingTree’s Weekly Mortgage Rate Pulse. [...]
September 22, 2011 (Shirley Allen) Home prices increased 0.8 percent from June to July but were still 3.3 percent below year ago levels according to the Federal Housing Finance Agency’s monthly House Price Index (HPI). It was the fourth consecutive month of price gains for the HPI. […]
September 22, 2011 (Shirley Allen) Continued economic concern kept mortgage interest rates at record lows according to Freddie Mac’s Primary Mortgage Market Survey® (PMMS), but the Fed’s new economic action could lead to even lower rates. […]
September 22, 2011 (Chris Moore) Distressed property sales were almost 7 percent higher in August than July and investors came out in force to scoop them up, helping existing home sales to post a 7.7 percent gain according to the National Association of Realtors (NAR). […]
September 21, 2011 (Chris Moore) Applications for home purchases declined last week while refinance applications increased slightly as homeowners continued to take advantage of low interest rates according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 16, 2011. […]
September 21, 2011 (Shirley Allen) The Department of Housing and Urban Development (HUD) has announced they will speed disaster relief assistance to the states of New Jersey and Maryland, providing support to homeowners and low-income renters who have been forced from their homes due to the recent severe weather and flooding by recent storms. [...]
September 21, 2011 (Jeff Alan) Default rates on first and second mortgages remained virtually unchanged from July to August and remained well below the default levels of a year ago according to the latest S&P/Experian Consumer Credit Default Indices. […]
