Existing Home Sales Decline

A real-estate industry report released this week showed existing home sales fell in the month of December.  According to the National Association of Realtors, existing home sales dropped 16.7% nationally. This is the largest monthly drop on record in 40 years. Existing home sales totaled 5,156,000 in 2009, higher than the previous year by 4.9%.  [...]

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Report: HAMP Program Only Making A Dent In Foreclosure Crisis

A report released this week says the nation’s foreclosure crisis is on the verge of deepening.  This is according to the State Foreclosure Prevention Working Group, which is made up of 12 state attorneys general and 3 banking regulators.  The group collected data from 13 different mortgage servicers for two years.  This is their fourth [...]

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Higher Mortgage Rates Possible

Economist believe mortgage rates will increase, predicting the average 30 year rate will move closer to 5.75% over the next six months.  Such forecasts force homeowners with adjustable rate mortgages to consider refinancing their loans to avoid an increase in their monthly payments.  An increase that few are prepared to handle when we consider the [...]

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Pending Home Sales Drop, Market Looks Bleak

The National Association of Realtors’ index on pending home sales dropped by 16% in November.  This is more than three times what economists expected to see.  The pending home sales index showed a decline in every region, 26% in the northeast and mid-west, 15% in the south and 3% in the west. The drop-off was [...]

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