National News

Uncle Sam Open to Ideas on Foreclosed Properties

The U.S. government is soliciting ideas on how to responsibly unload the 248,000 foreclosed properties currently in its possession, a total that represents almost a third of the nation’s foreclosed

Fannie Defaults at 4.08 Percent, Lowest Level in Two Years

Single-family mortgages by Fannie Mae that have been in default for more than 60 days fell to 4.08 percent in June and July, the lowest level in two

Fed Governor Urges Action on Housing

Federal Reserve Governor Elizabeth Duke called on Washington for aggressive action on housing, citing refinancing and property conversion as two possible

Appraisers Apprehensive about New Rules

New rules and regulations for appraisers of Fannie Mae and Freddie Mac properties have some in the industry fearing that the new steps will needlessly complicate the

Five-Year ARM Sets New Record Low at 2.96 Percent

Freddie Mac’s five-year ARM rate set a new record low yesterday, falling to 2.96 percent, a 0.56 percent decline from a year

Independent Mortgage Profits Rise to $575 a Mortgage

Profits on independent loans rose from $346 to $575 per mortgage for the second quarter, according to a new report by the Mortgage Bankers Association

Private Mortgage Modifications Up 11 Percent in July

Mortgage modifications by private companies rose 11 percent in July, according to data from the Hope Now alliance, a rate that far exceeds that of the government’s Home Affordable Modification Program

CoreLogic Price Index Up 0.8 Percent

The CoreLogic Home Price Index rose for the fourth consecutive month in July, increasing by 0.8 percent for the month and 5.5 percent over March’s

Obama Could Announce Housing Stimulus Next Week

President Obama is expected to answer calls of action and announce a housing stimulus plan next week during a planned speech on job

REO Properties Decline from 550,000 to 493,000 in Q2

REO properties declined in the second quarter from 550,000 to 493,000, according to research by Calculated

Foreign Home Buyers Help Housing Market – But Be Wary of Cultural Differences

Foreign investment is surging in a myriad of markets across the country, and it’s presenting Realtors with a new batch of situations and challenges they may not be used to

Mortgage Delinquency Rates at Lowest Level Since 2009

Data for mortgage delinquencies posted numerous gains in the second quarter, most notably that delinquency rates are now at their lowest level since 2009, according to the Federal Deposit Insurance

Pending Home Sales Up Strongly from 2010

Pending home sales declined 1.3 percent in July but remain well above 2010 levels, according to new research by the National Association of Realtors

Appraisals an Important Component for Housing Recovery

With sales and construction showing signs of growth, home appraisals have now emerged as a major component to a successful reboot for the housing

Buffett's Magic at Work for Bank of America

Bank of America posted big gains on Thursday after news broke of a $5 billion investment from financial wizard Warren

Bernanke Speech Highlights Housing, Omits Stimulus

Federal Reserve Chairman Ben Bernanke gave a speech earlier today at an economic symposium in Jackson Hole, Wyo., that highlighted both housing and the Fed’s current role in economic

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