In the rampant real estate speculation in Las Vegas three years ago, people lined up outside Pulte Homes offices overnight as if they were waiting for the release of the latest video game console or concert tickets.
The Federal Housing Administration must change to reflect consumer needs and demands, and provide many borrowers with a safer alternative to riskier home loan products that are on the market today, according to the National Association of Realtors.
With home prices still falling and bad credit home loan foreclosures still rising, U.S. home builders won’t see better days until the end of the year, several noted industry economists said Thursday.
Average rates on mortgage loans were little changed throughout the U.S. in the past seven days, data from a weekly Freddie Mac survey showed on Thursday.
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Home mortgage defaults in Minneapolis climbed more than 100 percent during the first three months of this year compared with the same period last year.
The median price for an existing single-family home rose modestly in the Nevada housing market, but sales dropped during the first quarter, according to a report obtained Wednesday by the Reno Gazette-Journal.
Washington Mutual Inc. has begun offering a new mortgage and home equity line of credit bundled into a single loan that allows customers to reset interest rates or switch between fixed and adjustable rates up to twice a year without having to refinance.
Being on top isn’t always a good thing.
That’s what the Lone Star State is realizing amidst a rising wave of Texas mortgage problems. Texas posted 39,869 foreclosure filings over the first three months of 2007, and with that figure, took the number three spot in terms of the aggregate foreclosure filings year-to-date.
The California housing market will continue softening because home prices are too high while too many homes remain unsold, industry observers said after a trade group reported a steep drop in home sales.
IndyMac Bancorp, a large Southern California mortgage loan specialist, Thursday said first-quarter profit fell by 34 percent, as it continues to be hurt by tougher conditions in the home loan market.