Refinance Mortgage HQ » News

Milwaukee Area Home Sales Improve

admin — Sat, 11 Jul 2009 20:36:08 +0000

The home sales improvement is largely attributed to lower prices and a favorable tax credit for home buyers. Single family homes were 3.6% higher in June 2009. It is an early indication that the housing market is ready to see a turn around.

http://www.bizjournals.com/milwaukee/stories/2009/07/06/daily85.html

High End Homes Struggle on Listing Market

admin — Sat, 11 Jul 2009 20:16:54 +0000

High priced home over seven figures – $1 million or more are struggling to be sold. San Joaquin County has seen these million dollar homes fall 50% in price since the real estate bubble, and first time buyers are not ready for the high end real estate market. Also, jumbo loans are much more expensive and harder to secure.

Zillow.com prices these homes too low, thus creating an unusual dilemma where the buyers expect a much lower price and the sellers expecting a price according to the actual worth. The conditions create an illiquid market for the high end homes.

http://www.recordnet.com/apps/pbcs.dll/article?AID=/20090711/A_NEWS/907110323

Median Home Prices Rise From May to June

admin — Sat, 11 Jul 2009 20:03:23 +0000

Santa Cruz’s median real estate prices has risen to $483,000 from $425,000 in May. Buyers are coming back and becoming homeowners. The only worry that has yet to come is the pending commercial real estate meltdown.

http://www.mercurynews.com/centralcoast/ci_12815473

Home Buyers Look to Government Loans

admin — Fri, 10 Jul 2009 05:35:55 +0000

Government insured mortgage loan applications higher than private mortgage applications as borrowers see easier access to loans that have less down payment requirements. Generally if you qualify for a government loan, it is always the better deal as private lenders are looking to make the extra buck.

http://www.bloomberg.com/apps/news?pid=20601103&sid=auNBuE3UfkQ4

Treasury Will Match Up to $1.1 Billion to Spread Out the $40 Billion of Bad Mortgage Securities Debt

admin — Fri, 10 Jul 2009 05:22:49 +0000

Fund managers put in $500 million, and can instantly double their money interest free to $1 billion to play the treasury market. Really amazing game to play if you can raise that kind of cash. It is a win win situation for the fund managers who will be taking managing fee right off the top from taxpayer money just for matching the funds.

Unfortunately, if you are working class, you will not be able to participate in this game where the rich gets richer.

http://www.bloomberg.com/apps/news?pid=20601087&sid=agt0DDxEov6g

Government page with full details pertaining to the PPIP program.

http://www.financialstability.gov/roadtostability/publicprivatefund.html

Tulare County Foreclosures, Mortgage Delinquencies Rates

admin — Fri, 10 Jul 2009 04:50:13 +0000

Tulare County is not one of the lucky areas that come out of the mortgage crisis with a faster recovery. Instead figures from Corelogic shows a near double compared to the same period last year. This trend is still common across the country.

http://www.visaliatimesdelta.com/article/20090709/NEWS01/90709023/Foreclosures++mortgage+delinquencies+up+in+county

Financial Firm Fir Tree See Opportunity in Depressed Mortgage Securities

admin — Fri, 10 Jul 2009 04:28:42 +0000

Fir Tree raised $400 million from investors to invest in mortgage securities that may have undiscovered long term value. The fund will ride out short term swings as the mortgage market stabilizes. Maybe some D rated mortgage back bonds are really AAA rated. Only time will tell.

http://online.wsj.com/article/BT-CO-20090709-716890.html

Home Sales in Northwest Arkansas

admin — Thu, 09 Jul 2009 20:25:01 +0000

Benton and Washington counties sold more family homes this month than the previous month. This is a result of average house prices that at 8.4% lower than the same period last year. Home buyers are also taking advantage of lower overall mortgage rates offered by lenders.

http://www.arkansasbusiness.com/article.aspx?aid=115869.54928.127998

Unemployment Rates Forecast Weaker Housing Markets

admin — Thu, 09 Jul 2009 05:24:36 +0000

Mortgage insurer PMI Group is forecasting lower housing prices by the end of March 2011 in 30 of the top 50 metropolitan areas. Forecasting algorithm uses a combination of price-appreciation trends, affordability, unemployment, interest rates and local economic conditions.

http://www.inman.com/news/2009/07/8/mortgage-insurer-ids-weak-markets

You can view a copy of the PMI research report at http://www.pmi-us.com/econ/index.html

Mortgage Lender NARES in Hot Water

admin — Thu, 09 Jul 2009 05:16:42 +0000

Mortgage lender – North American Real Estate Services Inc. has been fined and ordered to repay homeowners by North Carolina officials for avoiding state regulations.

http://www.businessweek.com/ap/financialnews/D99AAOH81.htm