The delinquency rate for mortgage loans on residential properties dropped to 9.85 percent of all loans at the end of the second quarter, down from 10.05 percent from the previous quarter but up from 9.24 percent from a year ago, according to the Mortgage Bankers Association’s latest survey. The delinquency rate includes loans that are at [...]

Bring on the mortgage applications.  Rates are awesome, deals are out there, and I bet I can find you a home that has a payment cheaper than the rent you are paying!
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NEW YORK (AP) — Mortgage applications rose 2.7% last week as more borrowers took advantage of the lowest rates in decades to reduce their [...]

Below is an article I read on NPR.  In my opinion after seeing the aftermath of this tax credit locally, it was not the heathiest thing to do to this fragile Real Estate market.  I noticed a severe drop here locally and am still concerned about the other impacts it may still have thru winter.  [...]

Open post and click on “Building Permits” below for the list of recent permits.
Building Permits

By Stephanie Armour, USA TODAY
Sales of newly built homes sank in July to the lowest in four decades amid buyers’ waning confidence and a tepid job market.
Wednesday’s report, a day after one showing that existing-home sales fell far more than expected last month, added to growing evidence of a weakening economy.
New-home sales fell about 12% from [...]

By Stephanie Armour, USA TODAY
Existing-home sales in July plunged to the lowest level in 15 years, deepening worries that the housing market’s tenuous recovery is threatened by buyers’ shaky confidence in the economy.
Economic forecasts were plenty pessimistic ahead of Tuesday’s report by the National Association of Realtors because of other data pointing to weakening sales since [...]

Reactions to the National Association of Realtors report on a sharp drop in existing home sales in July.
Economists
“The very weak recent summer home sales data probably are as bad as they should get, with sales apt to start improving by this autumn. Mortgage rates are very low; banks’ loan officers reported to the Fed in July [...]

SINCE foreclosures started to rise sharply in 2007, struggling borrowers have been offered a lot of help online. Some is well-meaning, but some is simply a scam in the form of expensive “debt relief” services that may be offered free elsewhere.
This month Fannie Mae, the government-sponsored entity that helps set lending standards for most mortgages, started [...]

This crazy statistic just goes to show how significantly the economy is hurting us Americans, in all parts of our lives.
NEW YORK (CNNMoney.com) — The number of Americans who own homes fell in the second quarter of the year to the lowest level since 1999, said a government survey released Tuesday.
The Census Bureau said the [...]