-
Nearly every man who develops an idea works it up to the point where it looks impossible, and then he gets discouraged. That's not the place to become discouraged.
Thomas Edison Categories
Author Archives: Alan Zibel
Builders glum on housing market despite uptick
Builders are pessimistic about the housing market, but are seeing a little more foot traffic after the worst summer for home sales in a decade . . . read more Read More
Homebuilders’ confidence stuck at 18-month low
WASHINGTON (AP) — Homebuilders’ confidence in the housing market stayed this month at the lowest level in 18 months, and more worry that the traffic of potential buyers is falling . . . read more Read More
Average mortgage rates hit low of 4.42 percent
Mortgage rates fell to the lowest level in decades for the eighth time in nine weeks, a sign that investors are concerned about the weak economy.
The average rate for 30-year fixed loans this week was 4.42 percent, down from 4.44 percent last week, mortgage buyer Freddie Mac said Thursday, August 19 . . . read more Read More
Bailout watchdog to audit housing program
The special inspector general for the financial bailout will examine how 10 states were selected for a $2.1 billion Obama administration plan to aid areas hit by the housing bust.
Bailout watchdog Neil Barofsky is performing the audit . . . read more Read More
Mortgage rates sink to lowest this year
Mortgage rates have fallen to the lowest level of the year as investors poured money into the safe haven of U.S. government securities.
The average rate on a 30-year fixed rate mortgage dipped to 4.78 percent this week from 4.84 percent a week earlier, mortgage company Freddie Mac said Thursday, May 27. It was the lowest level since early December, when rates fell to a record low of 4.71 percent.
The average rate on a 15-year fixed-rate mortgage fell this week to 4.21 percent . . . read more Read More
Dropouts rise in gov’t loan modification program
The number of homeowners dropping out of the Obama administration’s main mortgage assistance plan is growing, and is now almost equal to the number who have received permanent relief.
The Treasury Department’s report on Monday, May 17, was the latest evidence of problems in the administration’s $75 billion program . . . read more Read More
Take two: Gov’t tries new fix for mortgage crisis
The government’s bold new plan to stem the foreclosure crisis aims to succeed where previous efforts have fallen flat. Yet just as before, the odds are long, and many struggling borrowers won’t qualify.
In theory, the effort unveiled Friday, March 26, would help millions of troubled homeowners who owe more on their mortgages than their homes are worth, or who are jobless and need a break on their payments.
But it depends on cooperation from investors and bankers, many of whom have been locked in disputes over whether to reduce the debt owed by homeowners.
And just like the bank bailouts, this rescue plan poses risks. If it doesn’t slow the wave of foreclosures or if home prices nosedive, the tentative recovery in the housing market could fizzle. . . . read more Read More
Mortgage rates remain below 5 percent
Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday, weeks before a government program that has been keeping rates low is scheduled to expire.
The average rate on a 30-year fixed rate mortgage was 4.95 percent this week, down from 4.97 percent a week earlier, mortgage finance company Freddie Mac said.
Rates dropped to a record low of 4.71 percent in December and have hovered around 5 percent since, kept down by a Federal Reserve campaign to stabilize the housing market by lowering mortgage rates. . . . read more Read More
Gov’t extends deadline for refinance program
The government is giving homeowners another year to refinance their loans under a little-used program designed to help borrowers whose homes have plummeted in value.
The Obama administration effort, known as Home Affordable Refinance Program, had been scheduled . . . read more Read More
