Foreclosures Per Capita | February 2010

March 11, 2010

According to foreclosure-tracking firm RealtyTrac, foreclosure filings topped 300,000 for the 12th straight month last month as 1 in every 418 U.S. homes received a foreclosure filing.

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Don’t Rush To Refinance That ARM — It May Be Adjusting To 3 Percent Or Lower

March 10, 2010

If your mortgage is set to adjust this year, the smart move may be to let it. Today’s conforming mortgages are adjusting lower than ever before — as low as 3 percent. It may not be what you expected when you signed for your ARM several years ago.

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7 Weeks Remain To Find A Home, Claim Up To $8,000 In Tax Credits

March 9, 2010

In November, Congress extended and expanded the First-Time Home Buyer Tax Credit program to include a subset of “move-up” buyers — homeowners that have owned and lived in their home for 5 of the last 8 years. The credit ranges up to $8,000 per buyer. There’s now just 7 weeks left to take advantage. To be eligible, home buyers must be under contract for a new home no later than April 30, 2010, and must be closed no later than June 30, 2010.

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What’s Ahead For Mortgage Rates This Week : March 8, 2010

March 8, 2010

Mortgage markets improved last week in low-volume trading.

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Pending Home Sales Drag In January, But Should Rebound For Spring

March 5, 2010

Fewer homes went under contract in January as the housing market continues to limp through the winter months. According to the National Association of Realtors®, the Pending Home Sales Index fell to its lowest level in 3 quarters this January. By contrast, in October 2009, the index had touched a 3-year high.

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Tying Friday’s Jobs Report To Rising Mortgage Rates

March 4, 2010

Non-Farm Payrolls is the official name of the government’s monthly jobs report and, given the fragile state of the U.S. economy, Wall Street will be watching it closely. Mortgage rates could spike come Friday morning.

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How To Properly Screen A Prospective Tenant

March 3, 2010

According to the the National Association of Realtors®, “distressed homes” represented nearly 2 of every fifth home sold in January 2010. Clearly, real estate investors are taking advantage of good deals on cheap property. But there’s risk involved.

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Existing Home Sales Drop Again In January But Stay On The Trendline

March 2, 2010

Anecdotal evidence is showing sales activity higher through February and into March. And, although it’s unlikely we’ll see a spike through April like we did last November, buy-side demand for homes should remain strong. The good news of the sagging sales reports is that today’s buyers may find home prices are lower and sellers are more willing to negotiate.

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What’s Ahead For Mortgage Rates This Week : March 1, 2010

March 1, 2010

Mortgage markets improved last week as economic reports painted a less-than-stellar portrait of the U.S. economy and concerns of a looming monetary policy change eased. Mortgage pricing improved dramatically, despite a late-Friday retreat.

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The Home Price Index Shows Some Regions Up, Some Regions Down

February 26, 2010

Publishing on a 2-month lag, the Federal Home Finance Agency said home prices fell by 1.6 percent nationally in December. And that’s an average, of course. Some regions performed well in December as compared to November, others didn’t.

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