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Latest News

LPS: Huge Backlog of Foreclosures, Option ARM Foreclosures Skyrocket

2011-03-29T02:59:44+00:00

March 29, 2011 (Jeff Alan) Lender Processing Services (LPS) released its February Mortgage Monitor Report revealing that a huge backlog of foreclosures continues to exist despite a continued decline in delinquencies. The data also shows a 23 percent increase in Option ARM foreclosures over the last six months, far higher than any other product type. [...]

Pending Home Sales Rise in February

2011-03-28T14:13:01+00:00

March 28, 2011 (Jeff Alan) The National Association of Realtors (NAR) released its February Pending Home Sales Index (PHSI) which rose 2.1 percent from the previous month to 90.8, based on contracts signed in February, and is the first upward trend after two consecutive months of declines. Read more...

Freddie Mac Reports Drop in Single-Family Delinquencies in February

2011-03-28T02:55:38+00:00

March 28, 2011 (Shirley Allen) Government backed mortgage giant Freddie Mac reports the seriously delinquent rate, mortgages that are 90 days or more delinquent or in foreclosure, of single family homes fell to 3.78 percent in February, while the multifamily delinquency rate, mortgages that are 60 days or more delinquent or in foreclosure, increased to [...]

Winans International: Index Posts New Price Low

2011-03-28T02:00:37+00:00

March 28, 2011 (Chris Moore) The Winans International Real Estate Index (WIREI)™ reports that new home prices have declined 24% from their high in 2007 to a new low of $224,050, the worse price decline since the Depression. This eclipses the indices previous record low in October, 2010, of $229,300. Read more...