The Federal Reserve’s latest effort to boost the economy by driving down long-term interest rates won’t have a big impact on home and car buyers, savers or credit card users. Any noticeable changes from the central bank shuffling $400 billion of its portfolio are likely to be mixed. Although borrowers may benefit from lower rates […]
Home Prices Post Slight Gain for July
Home prices rose 0.8 percent during the month of July, marking the fourth consecutive month of increase, according to CoreLogic’s July home price index, released recently. Despite the monthly increase, prices declined 5.2 percent year-over-year. The decline is smaller when considering only non-distressed sales – 0.6 percent year-over-year. “While July’s numbers remained relatively positive, particularly […]
More Homeowners Refinancing Into Shorter Loans
More homeowners prefer to pay off their mortgages sooner as interest rates have stayed near rock-bottom and weak labor conditions have caused them to reduce their debt loads. According to a recent survey, the current trend in refinancing into shorter-loan terms is a stark contrast to the one during the height of the housing boom, […]
Mortgage Conforming Loan Limits Changing Soon
The conforming loan limits are changing – what does that mean and why should you care? For most borrowers, it probably means nothing at all, in fact the majority of the country falls into the standard conforming limit and they won’t be affected at all. Since 2006, the conforming loan limit has been set at […]
Real Estate: New Home Sales Update
New home sales in June fell by 1.0% from May, to a rate of 312,000. Relative to a year ago, sales are up 1.6%. While the rebound is more than welcome, it is still a very dismal rate of new home sales. Also, there was a downward revision to the May numbers of 4,000 to […]
Housing Starts Increase in June
Privately-owned housing starts in June were at a seasonally adjusted annual rate of 629,000. This is 14.6 percent (±10 9%) above the revised May estimate of 549,000 and is 16.7 percent (±11.8%) above the June 2010 rate of 539,000. Single-family housing starts in June were at a rate of 453,000; this is 9.4 percent (±11.1%)* […]
Housing Numbers Show a Hint of Promise — But Is It Real?
In a surprising twist, some of the best housing numbers in eight months came out recently. We checked with Editor in Chief of AOL Real Estate Laura Goldstein. She cautioned against getting too excited, too quickly. Underlying the numbers might be a seasonal uptick and stalled foreclosures, which tend to suppress prices. We’ll continue to […]
Foreclosures Slow, But Huge Backlog Remains
Fewer Americans had their homes repossessed by banks or were put on notice for being behind on their mortgage payments in April compared to a year ago. Questions or comments about this video? Use the comment link below to contact us with any question you may have.
Mortgage Interest Deduction: Crunch Time
Federal budget negotiations are moving into a critical period as the government will run out of money by August 2nd unless something is done to stop it. In the last week, President Obama has stepped forward and met with both Democratic and Republican leaders in the US Senate and House of Representatives in an effort […]
Housing Market Continues To Take A Pounding
As new indicators on the languishing national housing market continue to stream in it remains apparent that the crisis brought about by the bursting of the housing bubble is far from over. Newly released figures reveal that the prices of houses declined with greater speed during the opening quarter of this year than at any […]
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