February 4, 2012

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5 Reasons Why Home Prices Could Have Hit Bottom

September 23, 2010 By
Home pricing stabilizing

5 Reasons Why Home Prices May Have Hit Bottom Over the past three years across the country, we have witnessed historic drops in housing market. Property values in Florida, Michigan, Arizona, and California have plummeted. Foreclosures and mortgage delinquencies have skyrocketed while interest rates are now at all time lows. Many analysts believe the home prices have bottomed out and great deals are there for the taking. Despite some critics, a growing number of market watchers see signs … [Read more...]

How to Search for Foreclosed Homes

September 16, 2010 By
searching_online_foreclosure

As with any purchase, many people seek to find the best deal possible. It’s no different in the real estate business either. Buying a foreclosed property all though ignored might just offer you the deal of a lifetime! With interest rates at historic lows and refinancing prices low, passing up your chance to buy your new home now, might come back to hunt you. Not only can foreclosed properties save you up to 25% or more on property’s market value, it might also offer advantages like no … [Read more...]

Foreclosures Hitting Record Levels

August 13, 2010 By
Buy Foreclosures

Image via Buy Foreclosures In 2005, prior to the mortgage meltdown, U.S. banks repossessed 100,000 homes throughout the entire year. In July 2010, 92,858 homes have been seized, according to RealtyTrac, a foreclosure and real estate data company. July Foreclosures Near Record High July's foreclosure numbers, up 9 percent from June and up 6 percent from 2009, is approaching the high point of 93,777 in a single month (experienced in the months shortly following the crash). However, that … [Read more...]

Fewer Homeowners Underwater, But No Celebration

August 9, 2010 By
Home Foreclosure

Image via Wikipedia The percentage of homeowners that owe more on their mortgages than their homes are worth declined in the second quarter of 2010, but few economists are breaking out the champagne. Zillow.com, a real estate data provider, reported a decline in the number of homeowners "underwater" with the current mortgage--21.5 percent, down from 23.2 percent, reported in the first quarter of 2010. Housing experts, like Zillow's Chief Economist Stan Humphries, point to two transient … [Read more...]

Two Big Themes Today: Stimulus II and Mortgage Fraud

July 8, 2009 By Leave a Comment

Image by Getty Images via Daylife Unemployment numbers rock the market and kill notions of "Green Shoots." Mike Shedlock does a nice job of comparing and contrasting the two camps in Battle Lines Form Over "Son of Stimulus". The housing market certainly isn't feeling any relief from the first stimulus (little of which has hit the street) and may lack the confidence a second one will improve the outlook. PIMCO tells us these housing prices are headed downhill for the next 2 … [Read more...]

Are We in an Economy Where Low Mortgage Rates Don't Matter?

March 27, 2009 By 1 Comment

Image via Wikipedia 24/7 Wall Street presents and interesting angle on the role of mortgage rates in recovering the housing market. Are we in an economy where factors and anxiety around unemployment and investment make it such that mortgage rates are too much at any cost? While some data shows that housing may be finding a bottom, it is likely that very few people are willing to gamble their own money that the perception is true. If unemployment rises, housing prices could continue to fall. If … [Read more...]

Small Bank Bailouts, The Great Recession, JP Morgan Loan Modifications, Global ZIRP, PMI Losses, GM No Bailout Merger

November 3, 2008 By Leave a Comment
small bank

Small Bank Bailouts Financial market calamity was narrowly averted today as Farmers National Bank of Emlenton is expected to get a much needed capital injection from the US government. William Marsh, CEO led with this, "they were giving out free stuff"-type quote in the WSJ: "It seemed like the consensus in the industry was...go out and get this," said William Marsh, president and chief executive of Farmers National Bank of Emlenton, in Emlenton, Pa. Mr. Marsh said his bank is healthy and viable … [Read more...]

Mortgage Rates, Misery Index, Foreclosures, Case Shiller, OPEC, Credit Default Swaps

October 29, 2008 By Leave a Comment
misery-index_thumb

Mortgage Rates Rise as US Market Soars We get a big, even historic, upward bounce in the US stock market. Meanwhile mortgage rates are taking a negative bounce. The interesting part is that one of the stated US government bailout objectives was to preserve or even increase mortgage affordability. However, these same interventions into markets are causing precisely the opposite (possibly short-term) effect: With so much government debt guarantees in the bond market yield spreads between mortgage … [Read more...]

Yields Spread Mortgage Rates Rise, Homebuilders Housing Fix, Soros on Denmark Mortgage Market, Your $700 Billion at Work

October 28, 2008 By Leave a Comment
halloween

Yields Spread and Mortgage Rates Rise Fannie, Freddie, and Ginnie mortgage bonds continue to pull away from US Treasuries. The difference between yields on Washington-based Fannie's current-coupon 30-year fixed-rate bonds and 10-year U.S. Treasuries rose about 21 basis points to 224 basis points as of 4:30 p.m. in New York, data compiled by Bloomberg show. That's up from 162 basis points, or 1.62 percentage point, on Oct. 20. "It is the deleveraging,'' Mohamed El-Erian, the co-chief executive … [Read more...]

Asian Markets Down, Where is the Bottom, Rethinking Capitalism, and JP Morgan Will Not Lend

October 27, 2008 By Leave a Comment
capitalism

Asian Markets Take Another Dip Asian markets continue to tumble on real fears of global recession. Compounded by the already tightly intertwined system of banking and commercial equity positions. Much of these riskier equity positions, unlike US Banks are counted toward their regulatory capital requirements. This latest Asian market plunge is signalling another dangerous day on Wall Street. How many bullets can the market dodge? If we do get a real free fall what do you do? By the way don't … [Read more...]