Sales of new single family houses dropped again in
November according to a joint report issued Friday by the U.S. Department
of Housing and Urban Development and the U.S. Census Bureau.
Only in the West region were sales up from the previous month and then
by a…
Mortgage rates were up slightly during the pre-
holiday week ended December 20 according to the Primary Mortgage Market
Survey conducted by Freddie Mac.
The 30-year fixed rate mortgage (FRM) averaged 6.14 percent with 0.4
point for the week, up from 6.11 percent with 0.5 point the week before.
During the same week in 2006 the 30-year FRM carried an average interest
rate of 6.13 percent.
The Standard & Poor’s/Case-Shiller home price index
for October, released on Wednesday, fell again for what is the 10th
consecutive month. The 6.7 percent drop from figures a year earlier was
the largest recorded by the index since April, 1991 when prices declined
6.3 percent.
Miami was the biggest loser in the broad index
with…
The breakthrough came with the idea to freeze ARM
rates so that borrowers will not be subjected to the terms of
the agreements that they voluntarily signed. Combine that innovative
thinking with the ongoing efforts to save Wall Street from its own
irresponsible actions.
Until we are willing to confront
our own financial irresponsibility by facing the consequences
of…
RealtyTrac, Inc., a company that tracks delinquencies and foreclosures was reporting Thursday that the number of foreclosure filings in November was 68 percent higher nationwide than those in November 2006.
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Mortgage
interest rates took a jump upward during the week ended December 13
and December 14 according to information released by Freddie Mac and the
Mortgage Bankers Association respectively.
Mortgage applications activity was weak; the
seasonally adjusted measure of volume was…
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