Monthly Archives: October 2012

Economic Update

In the News New home sales rose 5.7% in September to a seasonally adjusted annual rate of 389,000 units from a downwardly revised rate of 368,000 units in August. On a year-over-year basis, new home sales were up 27.1% compared … Continue reading

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DataQuick: 40 Out of 42 Counties Post Monthly Price Gains

In September, home prices improved in nearly all of the largest counties throughout the United States as tracked by DataQuick. According to the company’s new Property Intelligence Report (PIR), home prices grew in 40 out of 42 counties month-over-month, while prices … Continue reading

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Home Prices Increase in 19 of 20 Cities in Latest Case-Shiller Survey

There is continued good news about home prices from theS&P/Case-Shiller Home Price Indices today.  Both the 10-City and the 20-City Composites increased 0.9 percent in August compared to the previous month.  Nineteen of the 20 citiesalso increased month-over-month.  The August 10-City Index number was … Continue reading

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Shrinking Supply of Distressed Homes Makes Room for Homebuilding

A steady drop in distressed home sales may spell a better future for builders, Capital Economics analyst and property economist Paul Diggle says. In a US Housing Market Update released by the firm, Diggle notes that while “a substantial overhang of properties … Continue reading

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Justice Department Sues BofA for Over $1B, Alleging Mortgage Fraud

The U.S. Department of Justice sued Bank of America for over $1 billion for alleged mortgage fraud related to the sale of loans to Fannie Mae and Freddie Mac, Manhattan U.S. Attorney Preet Bharara announced in a release Wednesday. According to the … Continue reading

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Why the Jumbo Loan Market is Finally Thawing

Oct 25 2012, 4:26PM Current housing recovery chatter centers around two main themes: slightly improving stats on home sales, prices and foreclosures low rates vs. tight credit Let me bring you into the trenches on theme two because it feeds theme one. Most … Continue reading

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Mortgage Rates Hover at Record Lows; Buying Is Cheaper than Renting

Mortgage rates are hovering at historic lows largely due to implementation of the third round of quantitative easing (QE3). This program, recently orchestrated by the Federal Open Market Committee (FOMC) involves purchasing additional agency mortgage-backed securities at a pace of … Continue reading

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