October 13, 2011 (Chris Moore) An estimated 35 percent of all mortgage defaults are strategic whereby borrowers who are financially capable of making their mortgage payment choose to default. Strategic defaults account for more than $20 billion of all defaults annually and are expected to persist for the foreseeable future. […]
October 13, 2011 (Jeff Alan) Prices for condominiums in California’s metro areas continued a year-long decline in July and the lack of a seasonal “bump” is a sure sign that prices will weaken even further in the fall according to Standard & Poor’s. […]
October 12, 2011 (Shirley Allen) Treasury yields jumped back up last week taking mortgage rates with them as the average 30-year fixed rate mortgage jumped up 30 basis points to 4.53 percent according to the data collected by LendingTree’s Weekly Mortgage Rate Pulse. […]
October 12, 2011 (Chris Moore) Mortgage applications for home purchases and refinances nudged up last week driven mostly by increases in government loans according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending October 7, 2011. […]
October 12, 2011 (Chris Moore) Home values surprisingly inched upwards in August according to Zillow, despite all indicators to the contrary in July. However, the surprise price increase doesn’t change their assessment that home values won’t hit bottom until 2012. […]
October 12, 2011 (Shirley Allen) Bank of America has opened another customer assistance center to serve its mortgage customers who are facing difficulties paying their mortgages. The new assistance center is located in Southington and serves mortgage customers throughout Connecticut. […]
October 11, 2011 (Shirley Allen) Despite the lowest interest rates in over fifty years and falling home prices, the biggest obstacle to owning a home in America is still the same today as it was five years ago, and even ten years ago…the down payment. […]
October 11, 2011 (Chris Moore) American household debt declined at an annual rate of 0.5 percent in the second quarter of 2011, continuing a trend that started in the first quarter of 2008 according to the Federal Reserve’s latest Flow of Funds Report. […]
October 11, 2011 (Chris Moore) Weekly home sales volume increased last week after falling for the previous three weeks while home prices posted its first weekly gain in eight weeks according to the National Home Sales Snapshot released by DataQuick. […]
