Nicolas Retsinas, director emeritus of the Joint Center for Housing Studies at Harvard University, discusses the U.S. housing market. Retsinas speaks with Erik Schatzker and Michael McKee on Bloomberg Television’s “InsideTrack.” (Source: Bloomberg)
U.S. Housing Market Continues To “Struggle Mightily” As Litigation And Mortgage Delinquencies, Foreclosures Keep Downward Pressure On Prices (Video)
23 08 2011Comments : 1 Comment »
Tags: Foreclosures, Homeowners, Housing Market, Prices, Values, Videos
Categories : Bank-Owned, Defaults, Delinquencies, Federal Government, Financing, Home Values, Housing Market, Statistics, Videos
Housing Market Remains Depressed As Poor U.S. Economic Health Reduces Homeowner Expectations Of New Home Purchases Retaining Value
18 08 2011
“…The employed remain worried about their own job security, which they see tied to overall U.S. economic health…”
- 41% of respondents in the Housing Market Index indicated that they had lost sales contracts due to buyers’ inability to sell their current homes
- This is an example of the unemployed impact on the broader marketplace, where it impedes the fluid economic progression of the employed, or the healthy market participants
- The traditional argument holds that although the old home must be sold cheaper than preferable, a new home is also acquired at better value
- These buyers worry about the future of the real estate market, specifically the risk of losing value post closing
For more: http://seekingalpha.com/article/288177-housing-insight-from-home-builders
Comments : Leave a Comment »
Tags: Home Prices, Home Values, Homeowners, Housing Market, Statistics
Categories : California, Economic Statistics, Home Values, Housing Market, Mortgage Industry, Purchases, Statistics, Surveys
Freddie Mac Lauches First YouTube Videos Advising Homeowners On Mortgage Delinquencies: “Myth #1: Get The Facts On Foreclosure”
21 03 2011Comments : Leave a Comment »
Tags: Delinquencies, Foreclosures, Freddie Mac, Homeowners, Videos
Categories : Delinquencies, Foreclosures, Freddie Mac, Mortgage Industry, REO's, Videos
First-Time Homebuyers: FHA Adjustable-Rate Mortgages (ARM) Include A 5-Year Fixed Rate Which Can Lower The Homebuyers Interest Rate 1.5% Or More
3 03 2011 
- An adjustable-rate mortgage insured by FHA can be an alternative to a 30-year-fixed rate mortgage
- 30-year fixed-rate mortgages hit a 40-year record low, averaging 4.17 percent, November 2010
- The are now back at or above 5%
- Many homebuyers may not live in a home for more than 5 years
- Adjustable rate FHA mortgages are in the mid 3% range
- Monthly payments on a 5-Year Adjustable FHA f $300,000 with a 3.62% percent interest rate are $1,368
- The same payment is $1,565 payment on a 30-year-fixed rate loan with a 4.75 percent interest rate
- Borrowers who get adjustable-rate loans try to either sell the home or refinance before the reset kicks in
- The lower reset caps of an FHA adjustable-rate loan provides borrowers with a more breathing room than conventional adjustable loans
- Once the initial five-year period is up, reset caps on FHA loans can go up no more than 1 percent in the sixth year, followed by a maximum reset of 1 percent annually, with a 5 percent lifetime cap from the initial start rate.
In addition to the FHA loans, lenders typically offer two other types of five-year, adjustable-rate loans, and both have higher reset caps. One allows the sixth-year reset to go up as much as 5 percent, followed by 2 percent annually, with a lifetime cap of 5 percent. The other has a maximum reset of 2 percent in the sixth year, followed by 2 percent annually, with a lifetime cap of 6 percent.
For more: http://www.mercurynews.com/breaking-news/ci_17526107?nclick_check=1
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Tags: Adjustable Rate, FHA, FHA Loans, First-Time Homebuyers, Homeowners
Categories : 203k, Federal Government, FHA, Financing, First-Time Homebuyer, The 203k Guy
