Top News

More Stimulus Needed for Economy: Geithner
ABC News – – require the federal government to ‘borrow $700 billion from our children.’ With slow job growth and a still-depressed housing market both still important issues in November’s Congressional elections, Geithner was asked, by both networks whether he would

Market News

Purchase Applications Up, Refinance Applications Fall Slightly in Latest MBA Weekly Survey
Mortgage Bankers Association – – in six weeks, but the level of applications to refinance remains close to recent highs, as historically low mortgage rates continue to draw borrowers into the market. The four week moving average for the seasonally adjusted Market Index is up 4.4

30-year fixed-rate mortgage rises: Freddie Mac
MarketWatch – – CHICAGO (MarketWatch) — After weeks of falling, the average interest rate on a 30-year fixed-rate mortgage rose slightly this week, according to Freddie Mac’s weekly survey of conforming mortgage rates, released on Thursday. And the average rate on a

Housing Inventories Rise for Eighth Straight Month
Wall Street Journal Online – – By Nick Timiraos Housing inventories rose in many U.S. cities for the eighth straight month in August in a sign of the continued headwinds facing a soft housing market. The number of available homes

Foreclosure Cleanup – – addition, the grantees can create “land banks” to assemble, temporarily manage, and dispose of vacant properties. Last week, HUD announced a new nationwide REO “First Look” program, in partnership with the nation’s largest mortgage lenders. The

FHA Short Refinance Option Now Available
U.S. Department of Housing and Urban Development – – Department of Housing and Urban Development today will begin providing an additional refinancing option for underwater borrowers. The FHA Short Refinance option is targeted to help people who owe more on their mortgage than their home is worth also

Other News

CMBS Delinquency Rate Nears 9% after August Jump: Trepp – – 8.92 percent of commercial real estate loans backing securities are now 30 or more days delinquent, in foreclosure, or REO. The current delinquency level is once again the highest in the history of the CMBS industry. The increase for seriously impaired

Good News for California’s Economy: Luxury Homebuilder Returns to San Diego Market
Yahoo! News – – September 8, 2010 – There’s a new sign that bodes well for the local economy and the California housing market. Toll Brothers, the nations leading builder of luxury homes, has returned to the. Brand new communities, especially those built by a solid,