New out from Zillow today-
13 million America homes are still underwater with negative equity
25.4% of U.S. home mortgages are underwater (negative equity)
Las Vegas, Atlanta, and Riverside County California have the highest amount of properties with negative equity.
By Q1 of 2014 1.4 million homes will go from negative equity to positive.
Also in the news Fannie Mae stock rose 32% today to $2.78 with the news that it might turn private.
Go to my web site www.myslohomefinder.com for all your San Luis Obispo home search needs!
The Day Ahead:Durables Orders
Durables Orders for April came in better than expected. However, on average for the core, this means that manufacturing merely is less sluggish than believed last month. New factory orders for durables in April rebounded 3.3 percent after dropping a sharp 5.9 percent in March (originally down 6.9 percent). Analysts expected a 1.1 percent increase. The transportation component gained 8.1 percent after falling 14.7 percent in March. Excluding transportation, durables orders rebounded 1.3 percent, following a decline of 1.7 percent the month before. The consensus called for a 0.4 percent increase in orders excluding transportation.
Dow is trading at 15,241-55.01the 10 yr bond is at 2.00 from 2.02 Yesterday, . Currently mortgages areslightly better from Yesterday
Conv. - 3.625%
FHA. - 3.375%
Have a great Memorial Day Weekend! God Bless America!
Comments(0)