This blog is about many things, there are a lot of other things about this blog that you might not have known about. Read around for more information.
Yesterday the Fed bought their first round of mortgage securities guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. This kicks off the Federal Reserve’s plan to buy $500 billion in mortgage-backed securities by mid-2009, right on schedule. One of many historically unique programs to drive down the affordability of home buying and return much needed buyers to the market.
Go here to read the rest:
[News] Fed Begins Buying MBS, Pushing Down Mortgage Rates
SAINT JOHN, New Brunswick, January 05, 2009 ? The construction of 21 new affordable housing units in Saint John was officially announced today by the Province of New Brunswick and the Government of Canada. The new units, funded under Phase III of the Canada ? New Brunswick Affordable Housing Agreement, will house disabled persons, non-elderly singles and ?
See the original post here:
New Affordable Housing Announced in Saint John
In the closing days of 2008, a year fraught with economic turmoil, there are enormous efforts to make 2009 a year of recovery. Is there reason for hope?
Read the original:
[News] Could 2009 Give Us an Economic Recovery?
The tables have turned in the home improvement world. During the red-hot housing market, finding a contractor who would perform simple home improvement jobs was nearly impossible. As the market has iced over, renovation specialists are finding that the shoe is definitely on the other foot.
Read the original here:
[News] Home Improvement taking a Hit from Financial Crisis
The first lesson of personal finance is to budget your income and spend wisely. The second lesson is to get even more conservative about your spending when recession is knocking at the door.
The rest is here:
[News] Protect your Finances from becoming another Recession Victim
Mortgage brokers and loan officers are reeling from a surge of mortgage applications that have challenged their dwindled numbers. Fighting nearly a two year battle just to survive mortgage companies and banks are scrambling to handle the work load. A very nice Christmas present for mortgage bankers as mortgage refinance applications jumped 6.5 percent over the previous week.
More here:
[News] Mortgage Refinance Applications Surge on Falling Mortgage Rates
The 30-year mortgage rate dropped for the seventh consecutive week, hitting its lowest level since 1971. This has hit mortgage brokers and lenders with a surge of homeowners and refinance applications looking for a Christmas bonus.
More here:
[News] 30-Year Mortgage Rate Hits 37 Year Low, Borrowers Rush to Refinance
A favorite target of criminals used to be subprime borrowers. As the market for subprime loans collapsed, mortgage fraud crooks set their sights on another type of home loan. They’re now focused on the home equity line of credit (HELOC), and homeowners need to be especially vigilant.
View original here:
[News] Home Equity Lines of Credit Targeted by Criminals
Long gone are the days of the “bubble” in the real estate market. We’re now beginning to see signs that we’ve reached the bottom, as falling real estate sales have created more affordable housing. Prices are more in line with median incomes around the country, providing a strong signal that the end of the slump may be in sight.
See the original post here:
[News] Homeownership Getting More Affordable
Funny how ideas can come full circle. It seems some private equity and investors think US Treasury Secretary Paulson’s first plan was a pretty good one–buy troubled mortgage assets of bank balance sheets. In fact, a few have offered to take that opportunity with the government’s help.
Here is the original post:
[News] Private Equity and Investors Resurrect Idea to Buy Troubled Mortgage Loans