Real Estate Investing News
Real Estate Investing News
No sign yet of a bottom in home prices
As millions of American homeowners watch their home equity melt away or can't move they can't find a buyer are wondering: When will house price stop falling? [Link]
New Fed rules miss one key lending abuse
Mortgage brokers and loan officers are getting paid fat fees by lenders to put unsuspecting borrowers into expensive loans. And the new lending rules issued last week by the Federal Reserve do nothing to stop this abusive practice. [Link]
How housing rescue bill can help you
The House on Wednesday passed a $300 billion housing rescue bill aimed at helping troubled homeowners avoid foreclosure and supporting mortgage giants Fannie Mae and Freddie Mac. … [Link]
Plosser Says Rate Hike is Inevitable Even if Housing Prices Continue to Fall
Speaking in a Bloomberg Television interview, noted hawk Philadelphia Federal Reserve President Chuck Plosser said the Fed may have to hike rates even as housing prices continue to fall. Plosser commented that the economy has not changed much in the last … [Link]
U.S. Fed's Beige Book is Downbeat, But Few Surprises
Economic conditions across the U.S. "slowed somewhat," according to the Fed's Beige Book on Wednesday. Five of the 12 districts were said to have weakened since the last report six weeks ago, while Chicago's economy was "sluggish" and growth in … [Link]
House passes housing-rescue bill
The House has passed legislation that aims to help 400,000 strapped homeowners who are facing foreclosure and prevent troubled mortgage giants Fannie Mae and Freddie Mac from collapsing. [Link]
Mortgage applications fall 6.2%
Read full story for latest details. [Link]
Treasury's Paulson Says it Was Easy to Recommend President Sign Housing Bill
Although he is not pleased with some parts of the housing bill, U.S. Treasury Secretary Henry Paulson said it was easy for him to recommend to President George W. Bush to sign a housing rescue package into law on Wednesday. [Link]
Mortgage Rates Fall in Response to Speculation about Overnight Bank Rates
Rates for both short- and long-term mortgages tumbled last week according to Freddie Mac's Primary Mortgage Market Survey. The Mortgage Bankers Association (MBA) released the results of its Weekly Mortgage Applications Survey for the week ended July 18 on Wednesday. … [Link]
Preview: Fed's Beige Book to Confirm Broad-Based Softness in Economy
Economists largely agree that the Beige Book document to be released Wednesday by the Federal Reserve won't receive extended attention from markets, which are more concerned with forward-looking data. The report will likely say that economic conditions are soft across the … [Link]
MBA Mortgage Applications Move Down in Week Ending July 18
Weekly mortgage applications in the United States declined in the week ending July 18, according to data released from the Mortgage Bankers' Association (MBA) on Wednesday, which reported a 6.2% week-over-week fall in applications. [Link]
Wednesday's Events: Canadian CPI, DOE Oil, Fed's Beige Book
Canadian CPI tops the economic news of the day as markets receive the Fed's Beige Book and the Department of Energy's weekly oil inventories. In the afternoon, markets will also be paying attention o the sales of $31 billion in two-year Treasury notes. In the U.S., the Mortgage Bankers … [Link]
Credit crisis halting commercial construction
Large and small commercial developments nationwide have been delayed or scrapped as lenders tighten credit standards on construction loans. [Link]
Fed Discount Meeting Minutes See Fed Majority Take a Wait-and-See Approach
The Federal Reserve Board Discount rate meeting minutes from May 19 and June 23 show that ten out of twelve reserve banks voted to leave the discount rate unchanged. The Dallas Fed and the Kansas Fed requested to have the discount rate increase by 0.25%. [Link]
California foreclosures hit 20-year high
Read full story for latest details. [Link]
U.S. home prices drop 4.8% in May
Read full story for latest details. [Link]
House Prices Falls Less Than Expected in May, According to OFHEO
U.S. house prices fell 0.3% month-over-month in May following April's 0.8% pullback, the Office of Federal Housing Enterprise Oversight (OFHEO) reported Tuesday. The consensus had been looking for a 0.8% month-over-month pullback in May. "It is very hard to draw … [Link]
