The Obama Administration’s Housing Scorecard reports continued signs of stabilization in house prices and greater home affordability. Since April 2009, more than 7.1 million homeowners refinanced their homes at record low interest rates. More than 3.73 million modification arrangements were started between April 2009 and August 2010, nearly triple the number of foreclosure completions during that period. Nearly 90% of homeowners remain in their permanent Home Affordable Modification Program (HAMP) loans suggesting that the HAMP permanent modifications will perform well long-term. At the same time, home prices remained largely level over the past year after 33 straight months of decline. Homeowners reportedly added $95 billion in home equity in Q210.
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