News

Interest Rates to Remain Low

From RealTrends.com: Investors breathed a sigh of relief Wednesday when Federal Reserve Chair Ben Bernanke told Congress that interest rates are likely to remain low for an extended period. The economy, he said, “still requires support for recovery.” Investors see these low rates as a boon to a recovery of employment and business. Bernanke’s announcement … Read more

More Fixed-Rate Borrowers Choose Shorter Loan Terms

From RealTrends.com: Refinancing borrowers overwhelmingly chose fixed-rate loans, regardless of whether their original loan was an adjustable-rate mortgage (ARM) or a fixed-rate, according to Freddie Mac’s quarterly Product Transition Report. While 30-year fixed-rate mortgages are still the most preferred product chosen for the new loan, 15-year fixed-rate mortgages gained favor among refinancers who previously held … Read more

PMI Sees Bottom in Home Prices

From RealTrends.com: A new study from PMI Mortgage Insurance Co. suggests home prices have found their bottom. The company’s analysis shows that by almost all measures, residential property values began stabilizing considerably during the second and third quarters of last year – and monthly data through November confirms that this stabilization continued into the fourth quarter. PMI says the likelihood that home prices will drop lower over the next 24 months is diminishing for most large metro markets.

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Housing in America: The Next Decade

From RealTrends.com: As the economy recovers, markets will stabilize but the old “normal” will not return, according to a new study by John McIlwain for The Urban Land Institute.
Here are ULI’s predictions:

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Housing Economists: Sales Are On The Rise

From RealTrends.com: The housing recovery should gain momentum in 2010, but the improvement will still be slow, according to a panel of economists speaking at the International Builders Show in Las Vegas. “It won’t be a strong recovery, but it will be a recovery,” said David Crowe, chief economist for the National Association of Home … Read more

Pending Home Sales Down from Surge but Higher than a Year Ago

From RealTrends.com: Contract activity for pending home sales fell after a surge of activity in preceding months to beat the original deadline for the first-time home buyer tax credit but remains comfortably above a year ago, according to the latest survey. The Pending Home Sales Index, fell 16.0 percent to 96.0 from an upwardly revised … Read more

Fed: It’s Time the Market Stands on its Own

From RealTrends.com: April 1 will be the first day that the Federal Reserve will end its debt purchase program and allow the struggling U.S. mortgage market to operate unassisted. As a result, the Fed believes mortgage rates will rise about three-quarters of a percent to about 6 percent, Boston Fed President Eric Rosengren said recently. … Read more

Home Sales Surge in Markets across the Country

RISMEDIA, December 28, 2009—(MCT)—November 2009 was a positive month for the real estate industry as home sales surged in a majority of markets across the country. Spurred by low prices and the extended and expanded home buyer tax credit, home sales were up in Las Vegas, Nevada; Ohio, the Midwest; and upstate New York, according to reports late last week. While other reports point to sales being down in California, home prices nationally were up—causing for a wave of optimism to be felt throughout the industry.

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