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The “Robo Settlement” — What’s in the Details?
February 20, 2012 by Marni and Scott Huger · Leave a Comment
Who Wins and Who Loses in the $26 Billion Deal The $26 billion dollar settlement announced earlier this month the Department of Justice and and Attorneys General from every state with the exception of Oklahoma is being hailed a significant victory for consumers and a step forward for the housing market. Major Lenders Involved in the Settlement There are five major banks involved in the settlement:... [Read More]
Why the Crisis In Greece Matters Here
February 13, 2012 by Marni and Scott Huger · Leave a Comment
How US Mortgage Rates Are Impacted by the Eurozone Economy Although Greece seems far away — and far from involved in the mortgage and housing market challenges faced in the U.S., the fact is that our economies are linked. Simply put, Greece is bankrupt, which means it can’t pay its debts, including those made by foreign governments and banks. Although the direct exposure of U.S.... [Read More]
What the Drop In Unemployment Means For Housing Market
February 6, 2012 by Marni and Scott Huger · Leave a Comment
Home sales rise as home prices continue to fall Unemployment rate falls to 8.3% The unemployment rate in January of this year fell to to its lowest point in nearly three years, since February 2009. This, along with the number of people jobless (12.8 million) — also the lowest in nearly three years — are good indicators that the economic recovery is impacting... [Read More]
Mortgage Rates Edge Up
January 30, 2012 by Marni and Scott Huger · Leave a Comment
Mortgage rates rise 0.7 points Last week, mortgage rates rose an average 0.7 points, according to Freddie Mac. Realtor Magazine reports a “series of recent positive reports showing the housing market on the mend” may have affected mortgage rates, halting the downward trend. Increase in home sales highest in over a year and a half Existing home sales for December of last year increased... [Read More]
Do Some Houses Sell Faster Than Others?
January 23, 2012 by Marni and Scott Huger · Leave a Comment
An interesting infographic says “yes” The site One Block Off the Grid (1bog.org), a free group discount site focused on solar energy solutions for home owners, recently published the following infographic showing some statistics about why some houses sell faster than others.
Good News for Unemployed Homeowners
January 16, 2012 by Marni and Scott Huger · Leave a Comment
Freddie Mac and Fannie Mae announce mortgage forbearance extension In another move geared to moving the housing market recovery along, the two major mortgage players, Freddie Mac and Fannie Mae, last week announced expanded relief programs for homeowners struggling with their loans due to joblessness. The thought that relieving some of the stress from the combination of joblessness and mortgage obligations... [Read More]
News Flash: Housing is Important to Economic Recovery
January 9, 2012 by Marni and Scott Huger · Leave a Comment
Federal Reserve speaks up on the housing market Consumer Confidence + Tight Credit + Too Much Empty Property = Slow Recovery Last week the Fed sent a housing “white paper” to Congress discussing the importance of housing to the economic recovery. On Friday, Federal Reserve Governer Elizabeth Duke observed that “housing demand and homebuilding continue to be restrained by weak... [Read More]
Housing Market: What’s Behind and What’s Ahead
December 26, 2011 by Marni and Scott Huger · Leave a Comment
The housing market in 2011 was a year that saw changing trends and breaking records. Mortgage Rates 15- and 30-year fixed mortgages hit record lows during 2011. via money.CNN.com Freddie Mac’s Primary Mortgage Market Survey showed the interest rate for a 30-year fixed-rate loan averaging 3.91% last week, the lowest in the 40 years of the survey’s history. The average interest... [Read More]
Are Home Values Finally Stabilizing?
December 19, 2011 by Marni and Scott Huger · Leave a Comment
Zillow Real Estate’s latest market report says maybe On a year-over-year basis, the Zillow® Home Value index declined 5.1 percent. Zillow reports that “the rate of monthly depreciation has stabilized around -0.2 to -0.3 percent over the last few months.” Of the 156 metropolitan statistical areas covered by Zillow, while 95 showed monthly depreciation in home values, 39 areas... [Read More]
The Housing Market One or Two?
December 12, 2011 by Marni and Scott Huger · Leave a Comment
Analysts disagree over definition and future of the market Last week, while some real estate analysts offered a somewhat rosy outlook regarding “stabilizing home prices for non-distressed property,” several industry experts from news sources argued that you cannot simply split the market in two pieces — distressed and non-distressed to paint the picture you want. So what’s... [Read More]
