Job situation improves in nearly every state

Philadelphia Fed chart shows employment status in 50 states By: Brena Swanson/Housingwire.com The job situation improved in almost every state over the last three months, according to the latest state coincident indexes report from the Federal Reserve Bank of Philadelphia. The coincident indexes combine four state-level indicators to summarize current economic conditions in a single … Continue reading Job situation improves in nearly every state

Completed Foreclosures Decline But Remain At Double Pre-Recession Levels

While completed foreclosures on residential homes totaled 40,000 for April and have been steadily falling monthly for the last four years, they are still nearly double their pre-recession average per month, according to CoreLogic's April 2015 National Foreclosure Report released Tuesday. Completed foreclosures, which are a measure of homes actually lost to foreclosure, declined by … Continue reading Completed Foreclosures Decline But Remain At Double Pre-Recession Levels

Representative Waters Asks HUD For More Transparency For Non-Borrowing Spouses on HECMs

U.S. Representative Maxine Waters (D-California) has written a letter to Department of Housing and Urban Development (HUD) Secretary Julián Castro asking for relief and more transparency for seniors participating in HUD's Home Equity Conversion Program (HECM). At the center of the issue is the fate of surviving non-borrowing spouses upon the death of the last … Continue reading Representative Waters Asks HUD For More Transparency For Non-Borrowing Spouses on HECMs

Auction.com: Here’s who is renting and where

Brena Swanson December 18, 2014 9:17AM Investors tend to gravitate toward renting properties rather than flipping them, according to a new November industry report from Auction.com. The Real Estate Investor Activity Report is a nationwide survey of real estate investors bidding on properties offered for auction during the month. “Real estate investors appear more likely … Continue reading Auction.com: Here’s who is renting and where

Congress OKs cliff deal, signaling future fights

WASHINGTON (AP) — Congress' excruciating, extraordinary New Year's Day approval of a compromise averting a prolonged tumble off the fiscal cliff hands President Barack Obama most of the tax boosts on the rich that he campaigned on. It also prevents House Republicans from facing blame for blocking tax cuts for most American households, though most … Continue reading Congress OKs cliff deal, signaling future fights

How foreclosure backlogs could hurt home buyers

Amy Hoak's Home Economics Dec. 3, 2012, 6:50 a.m. EST By Amy Hoak, MarketWatch CHICAGO (MarketWatch) — Backlogs in foreclosure processing are causing delays in home-price improvement and could wind up affecting the cost of a mortgage. Andy Dean Photography / Shutterstock.com The situation appears worst in New York, where it takes an average of … Continue reading How foreclosure backlogs could hurt home buyers

Shadow inventory declines by 1.2 million in 2012

Banks trimmed 1.2 million troubled mortgages or foreclosed homes out of the massive shadow inventory hanging over the housing market in the first half of 2012, according to JPMorgan Chase ($41.23 0%) research. The progress could double by the end of the year, though more than 4 million loans and properties would remain. Still, that … Continue reading Shadow inventory declines by 1.2 million in 2012

Housing recovery brightens Fannie Mae economic outlook

Housing remains a bright spot in an economy where consumer spending dropped nearly a percentage point in the second quarter and a looming year-end fiscal cliff is haunting the financial markets, Fannie Mae's Economic & Strategic Research Group said Tuesday. The group released its August 2012 Economic Outlook, which shows housing doing well with residential … Continue reading Housing recovery brightens Fannie Mae economic outlook

What’s Ahead for Mortgage Rates

Mortgage markets improved last week in response to ongoing concerns for the European Union and an across-the-board weakening in U.S. economic data — including the much-watched jobs report. Conforming mortgage rates in California eased lower last week, falling to a new all-time low for 6th week in a row. The moves have been modest, however, … Continue reading What’s Ahead for Mortgage Rates

U.S. Posts Its 20th Straight Month Of Job Growth

For the second straight year, the jobs market looks to be slowing into the summer. Last Friday, in its monthly Non-Farm Payrolls report for May 2012, the Bureau of Labor Statistics reported 69,000 net new jobs created, plus a one-tick rise in the national Unemployment Rate to 8.2%. 2012 is shaping up like 2011, it … Continue reading U.S. Posts Its 20th Straight Month Of Job Growth