‚ÄúReal estate for sale in Rancho Santa Margarita looks brighter by one set of statistics — though its level of distressed properties amongs its listings is high.‚Äù
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“The Federal Housing Finance Agency said average mortgage rates for home sales averaged 4.57% in July. According to the FHFA, July marks the fourth straight month of slow and steady mortgage rate declines.”
“Home prices in major U.S. cities increased in June for the third consecutive month, according to a closely watched index. But such upticks are often seasonal and home prices could begin declining again if demand remains weak.”
‚ÄúConstruction employment continued to slump in most of California’s metropolitan areas in July, according to an analysis by the Associated General Contractors of America.‚Äù
“(Reuters) РThe Obama administration is considering unveiling new plans next week to revive the ailing housing market and reduce foreclosures, including an effort to help troubled borrowers refinance their mortgages.”
“(Reuters) РApplications for U.S. home mortgages tumbled last week as demand for refinancing sagged for the second week in a row, an industry group said on Wednesday.”
‚ÄúNEW YORK (CNNMoney) — Don’t look to August for a robust jobs recovery. According to a report out Wednesday, the U.S. economy added jobs during the month, but not nearly at the momentum seen earlier this year.‚Äù
‚ÄúNEW YORK (CNNMoney) — If the Obama administration really wants to save the housing market, it should speed up the foreclosure process — not prolong the inevitable, experts say.‚Äù
“Five years into a housing meltdown, questions are arising about how long some publicly held home builders can survive without significant improvement in the market.”
“It sounds like an easy way to stimulate the economy: The government, working through mortgage finance companies Fannie Mae and Freddie Mac, could refinance millions of American homeowners’ loans at today’s rock-bottom interest rates and put more money in Americans’ pockets at a time when the economy is staggering.”
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