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Latest News

Housing Panel Predicts Housing Recovery 2 Years Away

2011-04-01T04:44:42+00:00

April 1, 2011 (Jeff Alan) A housing panel consisting of economists and real estate experts, predicts that housing prices will likely continue to slide for two more years with a tentative projection of a weak recovery beginning in 2013. Nearly half of the 111 economists polled by MacroMarkets, co-founded by industry expert Robert Shiller, believe [...]

Mortgage Interest Rates Increase Slightly for Second Week

2011-03-31T08:25:15+00:00

March 31, 2011 (Shirley Allen) Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows interest rates increasing slightly with the 30-year fixed sitting at 4.86 percent, up five basis points from the previous week. However, rates still continue to remain lower than at the same time last [...]

NAR Responds to Qualified Residential Mortgage Proposal

2011-03-31T02:48:30+00:00

March 31, 2011 (Shirley Allen) The National Association of Realtors (NAR) has weighed in with their response to the “Qualified Residential Mortgage (QRM)” requirements set forth in the risk retention proposal by federal regulators. NAR claims that the high down payment requirement will unnecessarily burden home buyers and significantly impede the economic and housing recovery. [...]

Foreclosure Shadow Inventory – Excess Inventory Expected to Remain High

2011-03-31T02:47:23+00:00

March 31, 2011 (Shirley Allen) CoreLogic released its Shadow Inventory Report for March 2011 which discloses that the current shadow inventory as of January 2011 declined to 1.8 million units, which is down slightly from the 2 million units that existed a year ago. Based on current sales projections however, the amount of units represents [...]