Mortgage Rates Keep Rising Despite Recession Fear by Polyana da Costa. Mortgage rates inched up this week as investors were warned that the United States may slide into recession in 2013 if Congress doesn’t get its act together. Read full post.
“I messed up. I messed up big.”
This line came from:
a) A paper towel commercial.
b) A Willie Nelson song.
c) Charlie Sheen, after his “winning” spree ended.
d) Newt Gingrich, writing a card to his wife with gift of expensive jewelry.
e) One of the biggest mortgage company executives to be sentenced to prison so far.
Read full post to find out the answer.
The Obama Administration, the 49 State Mortgage Settlement, and the Spin: A Study in Shamelessnes by Robert E. Prasch. For some time it has been common knowledge that the Obama Administration has not filed charges against a single prominent “bankster.” Moreover, let us note that this has not been the unfortunate consequence of an oversight or simple omission. Read full post here.
The smartest people are pretty dumb about mortgages. The realtor lobby and the government tax breaks have conspired to make people who should know better take on mortgages and go big on housing. Read full post by Teresa Ghilarducci.
The GOP says that bailing out underwater homeowners rewards people who borrowed irresponsibly. But most of the homes entering foreclosure today were bought with prime mortgages. Read full post by Jordan Weissmann.
Will America ever recover from the housing crisis? Read full post by Barry Ritholtz
Negative Equity Problem Could Make Foreclosure Crisis Even Worse. Just when you thought the housing market might be on the mend, news that foreclosure activity is on the rise across the country reopens a painful wound. Read full post here.
The worst U.S. housing crisis since the Great Depression has been declared over. But is it? everal housing experts have said the market is in danger of drifting for years. In a bleaker scenario, the fragile U.S. economic recovery could slip back into recession if Europe’s crisis deepens or the political impasse in Washington triggers a new budget crisis, putting the housing market at risk again. Read full post here.
The number of properties for sale at the bottom end of the US housing market is declining, with agents revealing their inventories have fallen while transactions have risen. Read full post here.
U.S. foreclosures up for second straight month. New foreclosure starts were filed on 104,294 properties in June, an increase of 4 percent from June 2011 but a 4 percent decrease from May, when they jumped to 109,051 on the heels of the settlement. Read full post here.
Mortgage rates rise, ending record streak. Rates on 30-year fixed mortgages climbed slightly higher this week, breaking a run that saw rates match or set new record lows for 13 out of the past 14 weeks. Read Full Post here.
Buying beats renting in most U.S. cities. For people who are willing to stay put for a few years, buying a home has become a much better deal than renting in almost every major housing market in the nation. Read full post here.
Principal Reduction: Is Debt Forgiveness Fair? Few topics have sparked more debate among housing market watchers than mortgage principal reduction. Its proponents tout debt forgiveness as one of the surest ways to counteract the housing slump. Its critics label it a handout that would cost taxpayers and spur further defaults. Read full post here.
New-home sales slump.Sales of new homes fell to an annual pace of 350,000, down 8.4% from May when sales hit a two-year high, according to the Census Bureau report. Read full post here.
Negative Equity Problem Could Make Foreclosure Crisis Even Worse.Just when you thought the housing market might be on the mend, news that foreclosure activity is on the rise across the country reopens a painful wound.Read full post here.