Today’s Real Estate News 6-28-2010

28 Jun

Today’s news that may be of interest to you: 

Consumer Spending in U.S. Rose 0.2% in May, More Than Economists Forecast
Bloomberg | June 28, 2010
Consumer Spending in U.S. Rose 0.2% in May, More Than Economists Forecast 

G-20 Calls for Higher Bank Capital to Avert Financial Crisis
Business Week | June 28, 2010
The Group of 20 countries said banks need “significantly higher” capital to avert another financial crisis, while granting member nations more flexibility to meet the new requirements.

Reverse Mortgages Look Better
The Wall Street Journal | June 27, 2010
Upfront fees on reverse mortgages have fallen substantially in recent months, giving homeowners interested in this product a new challenge: how to compare offers to find the best one.

On Finance Reform Bill, Lobbying Shifts to Regulations
The New York Times | June 27, 2010
Well before Congress reached agreement on the details of its financial overhaul legislation, industry lobbyists and consumer advocates started preparing for the next battle: influencing the creation of several hundred new rules and regulations.

Study: Nearly One in Five Mortgage Defaults Are ‘Strategic’
The Wall Street Journal | June 28, 2010
A new report estimates that nearly one in five mortgage defaults through the first half of 2009 were “strategic,” where borrowers who appeared to have the capacity to pay their mortgages stopped doing so.

From the National Association of Realtors®: 

Financial Compromise Bill Close to Passage
The House and Senate reached an agreement this morning on the largest financial overhaul since the Great Depression. If passed, the bill would have a significant impact on mortgage lending.

Mortgage Rates Hit an All-Time Low
Average rates for 30-year fixed mortgages have fallen to record levels, but demand for purchase loans is down due to economic uncertainty.

Forecasters Split on 2010 Housing Market
Industry experts are divided on whether average home prices will go up or down this year.

Oil Drives Beach Property Prices Downward
The oil spill in the Gulf of Mexico is depressing values of beachfront properties, even where environmental problems are still a threat rather than reality.

Hedge Fund Bets on Land
The value of land will go up at some point, investors believe. It’s just a matter of when.

Home Builder CEO Foresees ‘Rocky’ Bottom
The market may be bumpy as the government programs to prop up real estate wind down, the head of Lannar Corp. predicts.

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834

Please remember to choose Stewart Title of Spokane on your next transaction!



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