Foreclosure Filings See Record Jump March mortgage workout results announced recently by Hope Now – a coalition of mortgage lenders, servicers, investors and community groups put together to fight the foreclosure plague – were a decidedly mixed bag for the month. Lenders continued to rewrite troubled mortgages at a fast clip during March, but the […]

Economy: Recovery Sooner Rather Than Later? Time for some good news for a change! The economic recovery could happen much sooner—and be much stronger—than anyone thought possible. Some economists are disputing the idea that the recession will drag on for months and that the rebound will be as weak as those following the the 1991 […]

Economy: April Showed Improvement Consumers felt much more upbeat about the economy in April, a month when the nation’s manufacturing sector appeared to be crawling out of a deep recessionary hole. The news is fresh evidence that the U.S. economy may be on a slow path to recovery on the back of a huge federal […]

Consumer Confidence UP for a Change Confidence among U.S. consumers advanced to the highest level since the bankruptcy of Lehman Brothers Holdings Inc. pushed the economy deeper into the recession. Consumer sentiment seems to be, “the darkest phase of the recession is behind us…” Evidence that the housing market is reaching a bottom may be […]

Foreclosures Up 24 Percent in 1st Qtr The number of American households threatened with losing their homes grew 24 percent in the first three months of this year and is poised to rise further as major lenders restart foreclosures after a temporary break. In March, more than 340,000 properties were affected nationwide, up 17 percent […]

Housing Nearing a Bottom? A recent survey amongst Realtors say we are very near the bottom. (Source: Inman News (subscription) Three out of four Inman News readers participating in an online survey say housing markets in their area are improving or stabilizing — and most said they’ve noticed the change only in the last two […]

Pending Home Sales up Slightly The number of existing homes put under contract ticked up in February after hitting historic lows the previous month. The National Association of Realtors reported that its monthly Pending Home Sales Index rose 2.1% to 82.1 from 80.4 in January. Housing affordability hit a record high in February. NAR’s Housing […]

First Time Homebuyers Likely to Buy According to survey results from a poll conducted for one of the large real estate franchise companies, potential first-time U.S. buyers said they are likely to buy a home in the next two years. Record low mortgage rates and a new first-time homebuyer tax credit are large incentives, despite […]

Mortgage Rates: Drops Trigger Strong Activity Tumbling interest rates are setting off a mortgage-refinancing scramble among homeowners and pulling undecided buyers into the market. Applications are up in part because of a federal refinancing program through Freddie Mac and Fannie Mae that is part of the Obama administration’s housing rescue plan. Rates have been driven […]

Housing Starts Surge in February Construction of new homes unexpectedly surged in February, after falling for eight months. Housing starts rose to a seasonally adjusted annual rate of 583,000 last month, up 22% from a revised 477,000 in January, according to the Commerce Department. It was the first time housing starts increased since June, when […]