Fannie Mae And Freddie Mac Costs Could Be $700 Billion
The cost of bailing out Fannie Mae and Freddie Mac is soaring. New S&P research estimates that it will take $700 billion to bring the firms back to financial health, slightly less than the…
Housing
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Newest first · Page 190Chimera Back at the Capital Water Well (CIM)
Chimera Investment Corporation (NYSE: CIM) is supposed to be a toxic mortgage winner in the land of Real Estate Investment Trusts. The REIT is also a serial capital raising entity, which keeps selling shares…
Mortgages for New Homes Rise, Refinancings Fall (PHM, LEN, KBH, DHI, TOL, HOV, BZH)
Just last week the Mortgage Bankers Association, MBA, released its forecast for mortgage rates and numbers for the rest of 2010 and 2011. The association expect 30-year mortgages to fall through the fourth quarter…
More Evidence That The Foreclosure Death Spiral Continues With Few Solutions
Even before the current mortgage paperwork crisis, foreclosures in major cities began to accelerate again. Some analysts believe that the bank debacle will exacerbate the trouble, but it is trouble enough on its own.…
Housing Market Crushed: Case-Shiller
Unemployment, falling housing prices, and a relentless increase in foreclosures damaged home prices again, according to August Case-Schiller. Data through August 2010, released by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the…
National Association of Realtors: A Housing Recovery Or A Mirage?
The National Association of Realtors says exiting home sales rose a strong 10% in September. Existing home sales includes single-family, townhouses, condominiums and co-ops. The figure was a seasonally adjusted annual rate of 4.53 million…
The Eleven Reasons People Can’t Sell Their Home
The environment for home sales becomes more difficult with each passing month. Some estimates put 11.1 million mortgages, about 23% of the US total, underwater, meaning that homeowners owe their banks more than the…
Bank Mortgage & Foreclosure Fears Drive Insurers (BAC, MBI, ABK, RDN, MTG)
Bank of America Corporation (NYSE: BAC) may have more exposure than the rest of the money center banks due to its acquisition of Countrywide, and the spate of news about disclosure documents and representations…
Bank Repossessions Of Homes Top 100,000 For First Time, With No Solution In Sight
Bank repossession of homes passed 100,00 for the first time in September, according to industry research firm RealtyTrac. A record total of 102,134 bank repossessions were reported for the month. If unemployment remains high,…
Securities Industry and Financial Association: “Catastrophic” Impact Of Wide Foreclosure Moratorium
The Securities Industry and Financial Markets Association (SIFMA) which claims that it represents the interests of hundreds of securities firms, banks and asset managers, says that a full-scale moratorium would be ruinous to both…
Consumer Credit Keeps Shrinking
Everyone has either grown to hate credit now, or miss it because it has been taken away. The Federal Reserve just gave a report for the month of August which shows that credit to…
Mortgage Rates Hit All-Time Low, Does Not Help Slide In Home Prices
Average interest rates on fixed 30-year fixed-rate mortgages have fallen to an all-time low of 4.37%, according to Freddie Mac’s weekly survey of conforming mortgage rates. The drop in rates clearly has done little…
Foreclosures Are About 25% Of Q2 Home Sales
Foreclosed home sales were 24% of all transactions in the second quarter of 2010. The average price of a foreclosed home that was sold was 26% below comparable homes not in foreclosure. These data…
Case-Shiller: A Tiny Gain, But No Housing Recovery
Nothing terribly good about the new housing data from Case-Schiller. Prices rose a fraction in July. Data through July 2010, released by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices show that the…
Home Sales Remain In Crater
Sales of new single-family houses in August 2010 were at a seasonally adjusted annual rate of 288,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and…