Foreclosures sell at 30% discount

June 30th, 2010 No comments

Foreclosures accounted for a third of all sales -- and sold at a nearly 30% discount -- during the first three months of 2010.

Categories: Economy, Interest Rates, Mortgage's, Refinance Tags: First Three Months, foreclosures

House approves homebuyer tax credit extension

June 29th, 2010 No comments

The House of Representatives voted Tuesday to give first-time homebuyers three more months to close on their purchases and land an $8,000 federal income tax credit.

Categories: Economy, Interest Rates, Mortgage's, Refinance Tags: Credit Extension, Federal Income Tax, Federal Tax, House Extension, House Of Representatives, Income Tax Credit, Tax Extension, Time Homebuyers

Home prices up 3.8% in April – but don’t celebrate

June 29th, 2010 No comments

Home prices rose 0.8% in April compared with March and were up 3.8% from a year ago, according to the S&P/Case-Shiller Home Price Index of 20 major housing markets. However, prices, are still off 30% from their peak.

Categories: Economy, Interest Rates, Mortgage's, Refinance Tags: April March, Case Shiller Home Price Index, Home Price Index, Housing Prices, Rose

What Wall Street reform means to your mortgage

June 29th, 2010 No comments

Predatory lending would likely become a thing of the past if proposed regulatory reform rules are put into practice. And that may mean that mortgages get more expensive and more difficult to get, lenders warn.

Categories: Economy, Interest Rates, Mortgage's, Refinance Tags: lenders, Mortgage Lending, Mortgage's, Predatory Lending, Regulatory Reform, Wall Street

Beaten-down condos: ‘Deals of lifetime’

June 29th, 2010 No comments

For the first time in years there is a glimmer of hope in the condo market. After falling 20% nationwide and 60% or more in the hardest-hit areas, median condo prices remained flat nationally in the first quarter vs. a year earlier.