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Home sales continued their modest upward swing in May, according to a closely watched industry report that rose for the fourth straight month for the first time in nearly 5 years....Read More
With buyers scarce and financing tight, some home sellers are offering rent-to-buy options to potential buyers. In fact, there's been enough of a spike in interest that ForSaleByOwner.com added it as a search option on the site, says spokesman Eric Mangan....Read More
Home prices continued to tumble in April, falling 18.1% from a year earlier -- but the change from March narrowed sharply, indicating that housing markets may be starting to turn....Read More
The pace of losses in the labor market had been moderating for four months but in June nearly half a million jobs vanished from the economy, in contract to widespread expectations. The Bureau of Labor Statistics said 467,000 jobs were lost, pushing the unemployment rate to 9.5%, the highest in 26 years.
“The heavy loss of jobs in June is a warning...Read More
Markets are edging lower ahead of the 8:30 release of Nonfarm Payrolls. A lot is hanging on this report as many forecasts for the economy are dependent on the direction of the labor market. Many look for signs of stabilization after last month’s downside surprise, but signs of a recovery have been far from evident in the weekly Jobless Claims numbe...Read More
The Home Affordable Refinance Program was designed to assist borrowers who have demonstrated an acceptable payment history on their existing Fannie Mae or Freddie Mac owned mortgage loan. Unfortunately due to rising unemployment levels and increasing foreclosure rates, demand for housing has weakened and property values have continued to decline, w...Read More
A joint report from the OCC and OTS, which includes 64% of all outstanding mortgages, shows that instances of delinquency continued to increase in the second quarter. Particularly of note is the increasing growth rate of delinquencies among loans backed...(Read More
Three data releases at 10:00 failed to sing in tune with each other. A key indicator of output showed some improvement but is still contracting overall, and while contracts for home purchases are on the rise, spending on the construction of new homes it at historic lows....(Read More
Demand for mortgage loans simply plummeted in the final week of June, even as mortgage rates once again moderated, according to a weekly industry index. The Mortgage Bankers Association said the Market Composite Index, a measure of loan application volume...(Read More
The first trading session of the third quarter is a heavy one for markets. Just one day ahead of the June employment figures, markets will get the closely watched ISM Manufacturing Index, the Pending Home Sales Index, the ADP private employment report...(Read More
Fannie Mae, the mortgage goliath taken under government control last September, yesterday announced that its portfolio expanded by an annual rate of 35.1% in May, marking a stark contrast to the 19.2% decline in April. In its summary of monthly highlights...(Read More
Contrary to expectations, the rapid decline of home prices showed signs of stabilization in April, according to the Case-Shiller Home Price Index, the most influential recorder of prices. The 10-city composite index, which looks at ten major metropolitan...(Read More
The transition from June to July offers a packed schedule for investors. No data comes out Monday and Friday is a holiday, but the three days in between present key data and numerous speeches covering all fronts of the economy. The S&P 500 has gained...(Read More
The nonconforming “jumbo” mortgage, which exceeds the conventional “conforming” loan limit of $729,750 set by Fannie Mae and Freddie Mac, is becoming more difficult to obtain.
Property records filed last week show that a corporation linked to Andrei Vavilov closed on the purchase of a penthouse at Time Warner Center for $37 million.
A penthouse atop the Trump International Hotel and Tower owned by the financially troubled Italian movie mogul Vittorio Cecchi Gori is in contract to sell for $18 million.
After loading up on lavish office space near the top of the market, some firms are trying to sublease what they don't need for as much as 30% less than their rental rate.
Real-estate-investment trusts staged the best performance in their history during the second quarter on growing perceptions that most REITs are out of immediate danger.
Emaar, the Middle East's largest developer, is in talks to merge with three state-controlled property firms because of a sharp downturn in the emirate's property market.
Rich and Debbie Sulkovsky of Herndon had been looking for months for a place near the ocean when they saw a yellow house with green shutters in a creek-front community not far from Rehoboth Beach. (source: Washington Post)...Read More
At the Potomac Greens community picnic last year, nearly 160 residents poured out of their townhouses and onto the newly built community park to celebrate their neighborhood. (source: Washington Post)...Read More
THE MORTGAGE PROFESSOR Jack Guttentag Some of the most difficult questions I receive from readers concern the relationship between making extra mortgage payments and refinancing. (source: Washington Post)...Read More
INVESTORS aren't exactly rushing into the residential property market but they could become more active as first-home buyers fade from the scene at the end of the year. (source: The Australian)...Read More
ONE of Australia's biggest office tower landlords, Dexus Property Group, has wiped almost $900 million off the value of its $8.9 billion Australian, European and and US property holdings -- with listed property trusts expected to announce yet another round... (source: The Australian)...Read More
THE family owned Melbourne-based retailer Besen Group has granted an option over a third of its 50 per cent share of Highpoint Shopping Centre, one of Australia's top centres, to the GPT Group. (source: The Australian)...Read More
