C21AGVoices

For the fifth time in a year, rate shoppers learned an important lesson this week: When mortgage rates plummet unexpectedly, they often recover just as fast. Wednesday, the Federal Reserve’s newest $750 billion mortgage market pledge helped to push conforming mortgage rates near their lowest levels since WWII. 24 hours later, however, those rates were […]

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There’s a mixed message in February’s Housing Starts data and it may be a good sign for home sellers in the near-term. As reported by the government, new home construction rose by 22 percent last month.  The press is running with the headline number, calling it evidence of a market bottom. A more thorough inspection, however, […]

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USA Today ran this 2008 Foreclosures By State heatmap last week, reminding us of a simple truth: Headline statistics can be misleading. According to data compiled by RealtyTrac, 1 in 8 U.S. homes were in various stages of default or delinquency at the end of 2008.  This is a fact and it was widely reported by […]

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Image by drocksays via Flickr One popular housing theory is that — before a bona fide housing recovery can begin — the cost of owning a home versus renting one must return to historical levels. If that belief is a truth, a national return to rising home prices may be in store for 2009. Falling home prices […]

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Image by Getty Images via Daylife The American Recovery and Reinvestment Act of 2009 was signed into law Tuesday February 17th in Denver, Colorado.  Also on Tuesday, stock markets fell near their November 2008 lows. The two moves are related. With each new stimulus; with each potential jumpstart of the economy, Wall Street questions whether the […]

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Image by Rev Dan Catt via Flickr Everything old is new again. Conforming mortgages are limited by loan size, based on “typical” housing costs around the country.  The current conforming limit on a single-unit property is $417,000. In 2008, as part of the Economic Stimulus Act of 2008, Congress authorized conforming loan limits increases in “high-cost” […]

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Image by djbones via Flickr With Congress reaching agreement on a $789 billion stimulus package for Americans and the President expected to sign it into law, the clock may be ticking for this year’s home buyers and homeowners. The package contains two benefits related to housing. The first provision is fairly well-known. It gives first-time […]

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Image by thinkpanama via Flickr Last Friday, Fannie Mae rolled-back one of its least popular mortgage guidelines updates of the last 12 months. Effective March 1, 2009, real estate investors can once again own and finance up to 10 individual properties. The restriction reversal does come with new minimum requirements, however. Homeowners buying a 5th, […]

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A real estate trade group reported Tuesday that Pending Home Sales ticked higher in December 2008.  A “pending home sale” is a home under contract to sell, but not yet closed. The group positions Pending Home Sales report as a predictor of future activity, suggesting that home sales will spike 60 days hence. This is good […]

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The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged last week.  It remained within a target range of 0.000-0.250 percent. In its press release, the FOMC reiterated most of the key points from its December 2008 statement, including: The U.S. employment outlook continues to deteriorate Consumers and businesses continue to cut […]

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