If you are in the market or considering a purchasing your first home you should consider the economic factors and market conditions. Forecasters are telling us that mortgage rates will continue to fall slightly before stabilizing. We hear regularly that the housing market is at or near the bottom and a turn around is likely […]
Fed Slashes Rates
Daily Real Estate News | March 17, 2008 In an effort to boost market liquidity, the Federal Reserve lowered the discount rate to 3.25 percent from 3.5 percent and launched a new lending program through which money will be moved from securities dealers to the securitization markets. The effort — the latest attempt to stabilize […]
States, Insurers at Odds Over Rising Rates
Florida’s persistent battle with insurers over rates and coverage is spreading to other states and could have an affect on insurance customers nationwide. New York, which prevented insurers from forcing residents to buy car and homeowners insurance from the same company in order to avoid cancellation, now wants to order insurers to set aside their […]
House Committee Passes Mortgage Reform Bill
The U.S. House Financial Services Committee approved legislation on Tuesday creating new consumer protection standards in the mortgage industry. The bill drafted by Rep. Barney Frank (D-Mass.) would: Ban lenders from making loans that borrowers don’t have the ability to repay. Prohibit lenders from steering home owners into refinanced mortgages that don’t provide any benefit. […]
NAR: Mortgage Conditions Bode Well for Housing
Conditions in the mortgage market are improving for consumers, which should help to release some pent-up demand in early 2008, according to the latest forecast by the NATIONAL ASSOCIATION OF REALTORS®. Lawrence Yun, NAR vice president of research, notes that widening credit availability will help turn around home sales. “Conforming loans are abundantly available at […]
Mortgage Applications Rise Despite Higher Rates
Mortgage applications rose last week after falling for three weeks, according to the Mortgage Bankers Association weekly survey. The Market Composite Index, a measure of mortgage loan application volume, was 652.0, an increase of 2.4 percent on a seasonally adjusted basis from 636.7 the previous week. On an unadjusted basis, the index increased 2.4 percent […]
