Home Builder Confidence Falls Again; Home Buyers Gain Leverage?

Home builder confidence in the newly-built, single-family housing market is down for the third straight month this month. After reaching a 3-year high just 90 days ago, the National Association of Homebuilders’ Housing Market Index is now at a multi-year low. It’s since dropped by almost...

What’s Ahead For Mortgage Rates This Week : August 16, 2010

Mortgage markets worsened last week, putting a pause on the mortgage rate rally that dates to mid-April. Mortgage rates rose across Washington last week and home affordability suffered. The Refi Boom remains in full effect, but rates are not as dazzling as they were a week ago. It’s somewhat strange...

Higher (And Lower) FHA Mortgage Insurance Premiums Start October 4, 2010

For the second time this year, the FHA is modifying mortgage insurance. Beginning with FHA case numbers issued on or after October 4, 2010, the FHA is changing its upfront and annual mortgage insurance premium structure. Under the new terms, assuming a 30-year fixed rate FHA mortgage with at least 5 percent...

How Big Is The Foreclosure Market? It Depends On Where You Live, Of Course.

Foreclosure filings rose 4 percent nationwide last month versus June, according to foreclosure-tracking firm RealtyTrac.com. For the 17th straight month, total filings topped 300,000. A foreclosure filing is defined as default notice, scheduled auction, or bank repossession. As with most months, just a...

A Simple Explanation Of The Federal Reserve Statement (August 10, 2010 Edition)

Today, in its first meeting in 6 weeks, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged.  The Fed Fund Rate remains at a historical low, within a prescribed target range of 0.000-0.250 percent. In its press release, the FOMC said that, since June, the pace of...