housing market: Jobless Claims Up
- 10/14/10 09:06 AM
by The Associated Press text size A A A October 14, 2010 Applications for jobless benefits rose for the first time in three weeks, evidence that companies are reluctant to hire. Initial claims rose by 13,000 last week to a seasonally adjusted 462,000. And the U.S. trade deficit widened sharply in August, reflecting a surge in imports of consumer products. Jobless claims have been stuck near 450,000 all year. Few employers see much reason to create many jobs, and some are still laying off workers. Rail operator CSX Corp., for example, said Wednesday that it can lengthen its trains to handle … (2 comments)
housing market: FORECLOSURE HIT OVER 288.000 In Third Quarter
- 10/14/10 08:52 AM
by The Associated Press Enlarge Joe Raedle/Getty Images A "bank owned" sign is posted in front of a foreclosed home in Miami. A total of 288,345 properties were seized in foreclosure in the July-September quarter. Joe Raedle/Getty Images A "bank owned" sign is posted in front of a foreclosed home in Miami. A total of 288,345 properties were seized in foreclosure in the July-September quarter. text size A A A October 14, 2010 Lenders seized more U.S. homes this summer than in any three-month stretch since the housing market began to bust in 2006. But many of the foreclosures may be challenged in … (0 comments)
housing market: MORTGAGE RATES SINK To 4.19%
- 10/14/10 08:38 AM
by The Associated Press text size A A A October 14, 2010 Rates on 30-year mortgages fell this week to 4.19 percent, the lowest level in decades. They were pushed down by lower Treasury bond yields. Investors are buying up Treasury bonds in anticipation of a move by the Federal Reserve designed to lower mortgage rates and yields on corporate debt. As a result, the average rate for 30-year fixed loans dropped to the lowest level on records dating back to 1971, mortgage buyer Freddie Mac said Thursday. It's down from 4.27 percent the previous week. The last time rates … (2 comments)
housing market: Market Condition for Cape May County
- 10/08/10 11:26 AM
Cape May Courthouse - Dennis Township - Middle TownshipMarket Conditions Summary for Cape May County, New JerseyCheck other local areas for more detailed information posted by real estate professionals who live and work in the area.Agents: Click Here to Report Your Local Market ConditionsExisting-Home Sales Slow in June but Remain Above Year-Ago Levels With the scheduled closing deadline for the home buyer tax credits, existing-home sales slowed in June but remained at relatively elevated levels, according to the National Association of REALTORS®. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, fell 5.1 percent to a seasonally … (2 comments)
housing market: Economy Lost another 95,000 Jobs in September
- 10/08/10 06:13 AM
NEW YORK (CNNMoney.com) -- The job market suffered another blow last month, as business hiring dwindled and the government continued to shed workers. Overall, the economy lost a total of 95,000 jobs in September, the Labor Department reported Friday, far worse than expected and down from the previous month, when employers shed 57,000 jobs.
Government job losses, especially temporary census positions, have dragged down the overall number for several months. But in September, sweeping cuts by cash-strapped state and local governments accounted for more than half of the public sector losses. The government shed a total of 159,000 … (1 comments)
It's a tough time to be a homeowner trying to sell. The national statistics show inventories and prices holding steady through the first half of 2010. While this is a relief from the grim free fall that home sellers faced after the real estate bubble burst, there still isn't the upward momentum that owners prefer when they're looking for home sales.According to a Wall Street Journal report, only 47 percent of houses listed for sale in major U.S. markets had actually sold by August 2010. Several of the remaining listings were taken off the market. Moreover, the national averages … (1 comments)
housing market: The PMI Group Predicts were Home Prices will Fall
- 07/08/09 12:57 AM
Mortgage insurer PMI Group predicts that home prices will fall through the first quarter of 2011 in about 30 of the country's 50 largest metropolitan areas."The housing market has been hit by a demand shock of high unemployment and a supply shock of distressed foreclosure sales," LaVaughn Henry, senior economist at PMI.The areas PMI says have the highest probability of lower prices in 2011 are: Miami Fort Lauderdale West Palm Beach, Fla. Orlando Tampa, Fla. Jacksonville, Fla. Riverside, Calif. Los Angeles Santa Ana, Calif. Sacramento San Diego Las Vegas Phoenix Providence, R.I. Detroit Cities with the lowest probability of falling prices … (6 comments)
Some housing experts say the next logical step for helping home owners with negative equity is loan forgiveness.Home owners with no equity stake and no likelihood of having one anytime soon are increasingly likely to walk away. Some theorize that curbing that trend is the only thing that will stabilize the market.The nonprofit Milken Institute has devised a plan that would use Fannie Mae to refinance underwater loans with government money. Under the plan, a private lender would provide the money for the value of the home and the U.S. Treasury would issue a second, interest-only loan for the … (2 comments)
by The Associated Press
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