Real Estate News

CoreLogic: National underwater mortgage total decreases According to CoreLogic's most recent release, the nation's total number of underwater mortgages declined slightly during the second quarter. However, the volume is still high by historic standards.
Overall, 10.9 million Americans had underwater mortgages at the end of June, representing 22.5 percent of the nation's borrowers. This figure is down slightly from 22.7 percent in the first quarter. However, the total is still high and, in addition, another 2.4 million borrowers had less...
National foreclosure activity declines on yearly basis for 11th straight month According to RealtyTrac's U.S. Foreclosure Market Report for August, the nation's total foreclosure activity continued to decline on a yearly basis, despite higher monthly volumes.
In all, 228,098 properties received foreclosure filings during August, which is up 7 percent from July, but down 33 percent from the year before. Overall, one in every 570 housing units became distressed during the month.
Default notices grew 33 percent from July, reaching a nine-month high of 78,880....
Report: Houston job sector to improve during fourth quarter According to a survey conducted recently by employment company Manpower, many businesses in Houston are planning to either maintain their workforce or increase hiring during the fourth quarter of 2011.
Of those responding to the survey, 22 percent anticipate hiring increases, while 13 expect to reduce their staff. Overall, 64 percent plan to keep their current workforce in tact.
Among the sectors with the best job prospects are non-durable goods manufacturing, transportation and utilities,...
Average interest rate for fixed mortgages reach new lows Freddie Mac's recent Primary Mortgage Market Survey revealed new lows for mortgage interest rates.
For the week ending September 15, 30-year fixed loans recorded an average rate of 4.09 percent. This average is down from 4.12 percent the week before and 4.37 percent during the same week the previous year. The average rate for a 15-year fixed loan was 3.3 percent, down from 3.33 percent the week before and 3.82 percent the year prior.
"Continued investor concerns over the state of the...
Bank repossessions are growing considerably nationwide. A recent MSN Money article explained that due to continued home repossessions, the government is now responsible for nearly 250,000 properties.
The number of repossessions has continued to increase as more homeowners are unable to make payments on their mortgages and default on their loans. Reports also show that a significant number of homes are still moving toward default, which would only raise the number of distressed properties for which the government is responsible.
In all, the country...
Houston real estate market experiencing a 'comeback' A recent editorial in CultureMap Houston referred to a comeback taking place in the region's real estate market.
The piece refers to data released by the Houston Association of Realtors that showed a 17 percent increase in Houston property sales during July. In addition, the city's inventory of homes has shrunk by close to 10 percent from the previous year.
"We are in the early part of a recovery," a local Realtor told the news source. "We have consistently stayed above...
Houston home builders upset with new fees and regulations According to a recent report from The Community Impact Newspaper, homebuilders in Houston have remained busy lately, but many are becoming upset with new fees and regulations, which could threaten their business.
Overall, the Houston real estate market has led the nation in terms of new home starts, and values of Houston properties have not dropped, the Greater Houston Builders Association reports. However, the costs to build new homes have increased due to the new fees and regulations. In...
NAHB: Builder confidence relatively unchanged in September Homebuilder confidence was stagnant in September from the month before, according to the National Association of Home Builders' Housing Market Index for September.
The NAHB's report indicates a HMI of 14 during the month - a marginal drop from August. For the sixth consecutive month, the index has fallen somewhere between 13 and 16. Any reading above 50 indicates a high confidence level.
NAHB chairman Bob Nielsen stated that since housing market conditions have remained the same since...
NAHB: Builder confidence unchanged during September According to data recorded by the National Association of Home Builders/Wells Fargo Housing Market Index for September, confidence among builders in the new single-family market remained virtually unchanged during the month.
Overall, confidence in the sector declined a single point to 14, which represents the sixth consecutive month the index has registered a reading between 13 and 16.
"Very little has changed in terms of housing market conditions so far this year," said NAHB chairman...
More consumers opting for 15-year loans to refinance According to recent data, an increasing number of consumers have begun applying for 15-year home loans in place of the normal 30-year terms to refinance their mortgages.
During August, according to figures accumulated by a mortgage website, the number of refinancing loan applications for 15-year mortgages increased 29 percent from the previous year. By comparison, 30-year home loan refinancing applications were up 12 percent.
"It's all the trend right now," Kristine Marr, a senior...
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