If there is one thing that I would say is absolutely true about the current housing market in the United States, it is that the American banks seem to have a big issue with lending to their own people and are requiring absurdly high conditions for obtaining a home loan. According to the National Association …
Let’s paint that green grass in this picture first – also known as the good news! Residential construction spending continued to rise in August, supporting jobs and economic activity as housing continued to improve. Private residential construction spending increased 0.9% on a month-to-month basis and has now risen nearly 18% since August 2011. Spending on …
“Sensible lending standards would permit 500,000 to 700,000 additional home sales in the coming year,” NAR chief economist Lawrence Yun said in a statement. They say that the future favours the bold, and if the above statement is any indication, it is that Mr. Yun and the NAR are bold. What is more interesting is that the future …
I am pretty sure that a number of people have at one time or another said something along the lines of, “If you are getting deeper in the hole – stop digging”. Mitt Romney is at the point where he better stop digging. In traditional Republican nonsense spewing, Romney released, The six-page document, titled “Securing …
No, the Senators in Washington are not trying to make the national instrument of Ireland larger, but what has been proprosed is to expand the amount of mortgages that can qualify for the Home Affordable Refinance Program (HARP). They want to extended the deadline backwards toward 2009 from it’s current standing in 2010 and in addition …
The Federal Housing Finance Agency (FHFA) today released its July Refinance Report, which shows a key milestone was reached when more than 519,000 loans were refinanced through Fannie Mae and Freddie Mac under the Home Affordable Refinance Program (HARP) since the beginning of this year. That is more than the 400,000 loans re-financed last year. …
Depending on your view of the U.S. housing crisis, you may see this revamp of the bailout terms in a very cynical way. Something along the lines of “I scratch your back, you scratch mine”, and all the goverment people are crooks because no one went to jail as a result of this financial bailout. …
This should be music to your ears – especially if you are a prudent real estate investor. If rents are rising, it conceivably means that another person would be willing to pay more for that property in order to get the same percentage return. Hmmmmm. That means that the price of the homes is increasing. …
At the risk of sounding cliche within this short composition of economics – doesn’t quality of life matter in economic equations? Apparently not if you are the head of the FHFA Edward DeMarco. Fannie Mae and Freddie Mac could save $1.7 billion if they forgave principal on some troubled mortgages, the companies’ regulator said DeMarco …
The year is 2012. 5 years removed from the housing market meltdown. Yet here we stand, with mortgage rates at all time lows, affordability at all time highs, and still we find that Americans are having trouble getting lending from their own domestic banks. So it is welcome news that we see a new version …
