Mortgage Rate Falls To All-Time Record Low
Written by: Austin Kilgore - Freddie Mac and Bankrate are both reporting that US mortgage rates are lower than ever. The news following a sharp fall-off in home sales — particularly for new construction. Average rates for 15 and 30-year Fixed Rate Mortgages continued their decline this week, while only conventional 1-year Adjustable Rate Mortgages failed to hit a new low.
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President Approves $1.5 Billion To Be Distributed To Distressed Homeowners
NuWire Investor: Written by: Diana Golobay -
Arizona, California, Florida, Michigan and Nevada are among the states that will receive funds from the Obama administration’s newest program to provide foreclosure prevention relief to underwater borrowers. The Hardest Hit Fund provides states with funds that will enable them to establish state-specific borrower aid programs.
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5 Harsh Truths About Low Mortgage Rates
NuWire Investor: Written by: Carmen Nobel - Contrary to popular belief, good credit, sufficient income and a pre-approval letter, still may not be enough for buyers to get a good loan rate, or even final approval on a mortgage loan. With lenders tightening credit requirements, refinancing or getting a preferred interest rate on a mortgage loan in today’s economic climate is tough.
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Minimal Tax Increase Comes As A Relief To The UK Real Estate Industry
NuWire Investor: Written by: Property Wire - News of a minimal increase to the Capital Gains Tax came as a relief to the UK real estate industry, yet some claim it will still deter landlord investment. Although UK housing prices are projected to fall in the period immediately ahead, a positive GDP performance could mean a continuation of favorable lending rates and a boost to property prices.
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President Approves $1.5 Billion To Be Distributed To Distressed Homeowners
NuWire Investor: Written by: Diana Golobay - Arizona, California, Florida, Michigan and Nevada are among the states that will receive funds from the Obama administration’s newest program to provide foreclosure prevention relief to underwater borrowers. The Hardest Hit Fund provides states with funds that will enable them to establish state-specific borrower aid programs.
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Housing Market Already Feeling The Impact Of The BP Oil Spill
NuWire Investor: Written by: Property Wire - The nation's fledgling economic and housing recovery is feeling the impact of the BP catastrophe in the Gulf, hurting tourism and property values in states like Florida. With no end yet in sight to the crisis, development has stalled on vacation homes and even primary residences as the spill closes in on the Florida coast.
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Closing Deadline For Tax Credit To Be Moved Back To September
NuWire Investor: Written by: Diana Golobay - The Senate has approved an extension to the closing deadline for homebuyers seeking to claim the tax credit. The extension would allow an estimated backlog of 180,000 first time buyers sufficient time to close on their transactions.
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Low Interest And Fuel Costs Are Providing Relief For US Consumers
NuWire Investor: Written by: Jacob Gaffney - Affordable mortgage rates should help the nation's economy avoid a double-dip by freeing up consumer spending money, according to Morgan Stanley. Although mounting European debt and a weak Euro could have global reverberations, a stronger dollar indicates improved fundamentals in the US.
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Home Construction Numbers Reverse Course In May
NuWire Investor: Written by: Austin Kilgore - The 10 percent drop in May housing starts ended a 4 month run, with the decline expected to continue on the back of lower issuance of new housing permits. A sharp 17 percent decrease in single family home numbers implies that the housing market could slip further, without the boost of the homebuyer tax credit, and in spite of low mortgage rates.
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Forecasts For International Real Estate Markets In Second Half Of 2010
NU Wire Investor - The global property market is moving in a positive direction, however, not all markets are on the upswing and investors should be careful to consider economic, political and other factors before buying into any market. While Latin America and the US overall offer strong upside potential, markets in Europe, the Middle East, North Africa and Asia have markets that are both up and down. See the following article from...
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Less Than Half Of Foreclosed Homes Had Negative Equit
NU Wire Investor - Written by:Jon Prior - Despite the characterization of homeowners abandoning mortgages to escape negative equity, RealtyTrac finds a strong correlation between job loss and foreclosure. While RealtyTrac's foreclosure data finds underwater properties in the minority, the crisis is likely to continue into 2012 due to the multitude of factors triggering default.
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