Mortgages Archives

Existing home sales sink 3.1 pct in October from September, prices post annual 11 pct drop WASHINGTON (AP) -- A real estate trade group says sales of existing homes fell more than expected last month, as economic fears caused consumers to put their home purchases on hold. Read more»
Bay Area homes sold at their fastest pace in 17 months in October as buyers favored more affordable inland areas where depreciation and foreclosures have hit hardest.By DQNews For more real estate news, please visit: DQNews.com. Also check out sbup to compare mortgage rates. Read more»
WASHINGTON (AP) _ Construction of new homes plunged last month to the lowest level on records going back nearly 50 years as U.S. builders slashed production while Wall Street nosedived.Embattled homebuilders, who enjoyed a five-year boom, are now building new homes and apartments at a record-low pace, according to government data released Wednesday. New building permits, a barometer of future activity, also plummeted to the lowest pace on record. Read more»
New Property Fund Meets Distressed Market
By: manybanking.com Staff
Amid the mortgage crisis, PowerShares this week launches the first actively managed U.S. real estate ETF.Invesco PowerShares plans to launch the first actively managed U.S. real estate ETF this week. The PowerShares Active U.S. Real Estate Fund, which will begin trading on the New York Stock Exchange under the ticker PSR, will invest in real estate securities included in the FTSE NAREIT Equity REITs Index. Read more»
Federal agency breaks with Bush Administration stance to help 1.5 million keep homes.By ALAN ZIBEL WASHINGTON (AP) -- Publicly breaking with the Bush administration's official stance, the Federal Deposit Insurance Corp. proposed Friday to use $24 billion in government funding to help 1.5 million American households avoid foreclosure. Read more»
Mortgage finance company Freddie Mac says it is asking the government for $13.8 billion in aid after posting a $25.3 billion loss in the third quarter.By ALAN ZIBEL WASHINGTON (AP) -- Freddie Mac is asking for an initial injection of $13.8 billion in government aid after posting a massive quarterly loss. Read more»
Don't Get Zidetracked by Zillow
By: manybanking.com Staff
Zillow's information comes from public records that may not be accurate and comps may not be right for your house. By John Morell Admit it, you've Zillowed your house. And if you haven't, odds are a friend or relative has but you don't know about it. Read more»
Home Sales Jump in San Francisco Bay Area
By: manybanking.com Staff
As prices fall, more houses are selling in Northern California. Contra Costa and Napa are seeing the fastest growth in sales volume.By DQNews. Read more»
Fed Rate Cut Not Helping Consumers
By: manybanking.com Staff
Mortgage rates are rising and savings rates are falling even after this week's action by the Federal Reserve.Borrowing costs continue to rise for homes, cars and other loans even as interest rates drop for money market, savings and checking accounts. Read more»
Mortgage Rates Rise on Inflation Concerns
By: manybanking.com Staff
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