Jump in Mortgage Delinquencies Signals Housing Slowdown

The 2012 second quarter was a blip in an otherwise downward trend of mortgage delinquencies, according to information from the Mortgage Bankers Association. The seasonally adjusted delinquency rate for all mortgage loans grew to 7.58 percent during the second quarter from 7.40 percent in the first quarter. It was down on a yearly basis, from 8.44 percent in the second quarter of 2011. "[The rise in delinquencies] is consistent with the slowdown in the economy during the first half of the year Read more [...]

Transcripts: Fed Failed to See Housing Market Warning Signs

Even though there were indications that the housing bubble was unsustainable, the Federal Reserve made little effort to look into the issues during 2006, according to recently-released transcripts from the Fed's meetings. Granted, it is always difficult to foresee major shocks to the system, housing prices in the U.S. had not fallen since 1991, and it certainly seemed like that they would continue to rise indefinitely. Yet, there were warning signs. According to a Forbes article: "Heated Congressional Read more [...]

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on January 16th 2012 in Mortgage News

The Housing Market Can’t Catch A Break: Home Prices Set To Take A Triple Dip

In a time when the housing market really can't afford to take much more bad news, it is being dealt another blow. According to an article on CNN Money Fiserv (A financial analysis company) says the value of homes on average across the country should fall another 3.6% by next June. This dip will bring prices to a new record low, averaging 35% below prices seen prior to the housing bubble burst in 2006. This drop will result in a triple dip in housing prices. While there are a number of factors Read more [...]

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on October 18th 2011 in Mortgage News

Foreclosures Up in Third Quarter

Lenders are finally starting to process their backlogs of foreclosures, according to recent data from RealtyTrac, but these days, those properties are getting stuck in the process longer. In the third quarter of this year, foreclosure filings - made up of default notices, scheduled auctions and bank repossessions - rose slightly by 0.3 percent from the previous quarter. While that growth isn't stellar, it is important as it is the first increase after four consecutive quarterly declines. First Read more [...]

Default Notices Spike in August

Default notices sent to U.S. households jumped 33 percent in August from the previous month, according to data from foreclosure data company RealtyTrac, a sign that banks are finally starting to get the foreclosure wheels turning again. 78,880 homes received a default notice for the first time last month, which was a nine-month high and the highest monthly increase in four years. Default notifications have risen particularly high since last fall in states where the 'robo-signing' documentation Read more [...]

Double Dip Housing Recession

An already struggling housing industry did not get good news this week, hitting a new all time low since the housing bubble burst. Housing prices dipped to record lows with prices falling 4.2 percent during the first quarter of the year. While some cities saw prices slump to the lowest levels in eight years, others were hit even harder with prices dropping to levels not seen since 2000. Analysts have even said that the housing slump is now worse than the great depression. Attributing to the dip Read more [...]

Regulators Propose 20% Down Payment For Home Loans

According to an article on the Washington Post website federal regulators both from the FDIC and the Federal Reserve have put a new proposal on the table. If the regulations were to go through home buyers looking to get the best interest rates on a conventional mortgage would have to come up with a 20% down payment. What does this mean in dollars? If you plan to purchase a $200,000 home, in order to secure a great interest rate you would have to bring to the closing table a minimum down payment of Read more [...]

Mortgage Bond Holders Are Looking for a Refund

Just over three years ago, the housing market started to come crumbling down. Ever since, lenders have had to stand on very shaky ground, fending off accusations of funding bad mortgages. It seems however, that lenders may have not seen anything yet. As the housing market continues to tumble, investors who purchased bonds that were backed by piling up bad mortgages, are starting to feel their losses. Investors are looking for answers and a refund. The issue at hand is there are billions of dollars Read more [...]

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on November 9th 2010 in Mortgage News

New Report Shows Home Prices Down Again in August

August was not a good month for the housing market. According to the Standard & Poor's/Case-Shiller index that monitors the housing markets in 20 major U.S. cities, seasonally-adjusted home prices dropped for the second month in a row. While prices are still up from August of last year, they are lower than economists predicted. From August 2009 - August 2010 housing prices rose just 1.7%. A panel of 27 economists that were surveyed by Bloomberg had predicted the rate of increase to be higher Read more [...]

Housing Market Is in for a Slow Recovery

Since the home buyer tax credit expired in April, home sales are down as much as 42% across the country, not a good sign for the housing market. According to the annual report, State of Nations Housing released this week by the Joint Center for Housing Studies at Harvard University, it could take years for the housing market to rebound. The issue at the forefront of the housing market troubles, according to the report, is unemployment. Unemployment seems to have the largest impact on the housing Read more [...]