A pickup in U.S. home sales has kindled hopes for a housing recovery, but plunging prices, rising unemployment and a new wave of foreclosures are clouding prospects for a quick end to the American real estate debacle.
One of eight U.S. households with a mortgage ended the first quarter late on loan payments or in the foreclosure process in a crisis that will persist for at least another year until unemployment peaks, the Mortgage Bankers Association said on Thursday.
One of eight U.S. households with a mortgage ended the first quarter late on loan payments or in the foreclosure process in a crisis that will persist for at least another year until unemployment peaks, the Mortgage Bankers Association said on Thursday.
Iris Martin is not a banker, real estate lawyer or mortgage broker. She is a former psychotherapist specializing in transformative psychology.
Freddie Mac, one of the largest providers of funding for U.S. housing, is set to break ground on its first bond backed by commercial mortgages, a source familiar with the offering said on Friday.
U.S. mortgage applications rose last week, reflecting an increase in demand for home refinancing loans as interest rates trekked lower, data from an industry group showed on Wednesday.
Whitney Tilson, the outspoken founder of hedge fund T2 Partners LLC, is girding for a deeper mortgage market meltdown after being singed in his first foray into the credit crisis' most toxic of securities -- subprime bonds.
Redwood Real Estate Partners, Inc said on Wednesday it launched a fund to buy up to $500 million in distressed residential real estate amid an expected surge in bank-owned properties.
A money manager owned by Canada's Manulife Financial Corp is seeking to fire one of the largest subprime mortgage companies in the United States, claiming that Carrington Mortgage Services is unfairly tarnishing some bonds.
The Obama administration on Thursday tweaked its housing rescue plan by increasing incentives for mortgage lenders to slash the payments for homeowners in the worst-hit markets.
Commercial mortgage bondholders took some comfort after a judge overseeing General Growth Properties' bankruptcy stopped short of a move that they say would have undermined the structures of their securities.
U.S. foreclosure activity in April jumped 32 percent from a year ago to a record high, and should mount because temporary freezes on foreclosures ended in March, RealtyTrac said on Wednesday.
The U.S. Treasury Department on Thursday announced changes to encourage mortgage lenders to slash loan payments in the worst-hit markets and use so-called short sales to extract troubled home owners from unaffordable mortgages.
I've become numb a long time ago ... but seeing these programs and solutions one after the other is simply.... I don't have words.
U.S. foreclosure activity in April jumped 32 percent from a year ago to a record high, and should mount because temporary freezes on foreclosures ended in March, RealtyTrac said on Wednesday.
As the market for U.S. office, retail and apartment building loans heads south, investors in commercial mortgage-backed securities and servicers of the loans are feuding over how to best save their skins.
The National Association of realtors said on Tuesday that home prices dropped in 134 out of 152 metro areas on a year-over-year basis during the first quarter of this year.
Interest rates on U.S. 30-year fixed-rate mortgages rose 0.06 percentage point in the latest week, according to a survey released on Thursday by home funding company Freddie Mac.
The number of U.S. home owners that have mortgage debts that are higher than the actual value of the property, has reached approximately 33 percent, according to online real estate service, Zillow.com
U.S. mortgage applications rose last week even as interest rates jumped to their highest levels since mid-March, data from an industry group showed on Wednesday.
Global sales of investment grade real estate plunged 73 percent to $47 billion in the first quarter from a year ago, or just one-sixth of the level two years ago, according to real estate research firm Real Capital Analytics on Friday.
In recent months the availability of jumbo loans has decreased while the interest rate spread between jumbo rates and ten-year treasuries has widened. These developments are having a negative effect on the housing market.
