Today’s news that may be of interest to you:
Could 4.5% Refis Be a Balm for Mortgage Crisis?
American Banker | Friday, August 20, 2010
All homeowners current on their mortgages need to be refinanced into a loan with a 4.5% interest rate to help the economy, said Ted Jones, the chief economist at Stewart Title Guaranty Co.
U.S. Mortgage Relief Effort Is Falling Short of Its Goal
New York Times | August 23, 2010
The Obama administration’s mortgage relief program, originally intended to shield three million households from foreclosure, now looks as if it will permanently help as few as one-sixth of that number.
Housing Fades as a Means to Build Wealth, Analysts Say
The New York Times | August 23, 2010
Housing will eventually recover from its great swoon. But many real estate experts now believe that home ownership will never again yield rewards like those enjoyed in the second half of the 20th century, when houses not only provided shelter but also a plump nest egg.
Housing Diagnosis: Still Weak
The Wall Street Journal | August 23, 2010
Talk of mortgage-market reform has started percolating in Washington. But housing numbers this week are likely to reinforce the notion that the market is still far too weak for radical surgery.
Housing Slide in U.S. Threatens to Drag Economy Into Recession
Bloomberg | August 23, 2010
Housing led the U.S. out of seven of the last eight recessions. This time, it may kill the recovery. Home sales collapsed after a federal tax credit for buyers expired in April.
From the National Association of Realtors®:
5 Most Affordable Housing Markets
When it comes to affordability, Syracuse, N.Y. is tops in the United States. See which other cities are in the top five.
Most Owners Satisfied With Their Homes
A survey of U.S. home owners conducted last year by the Census Bureau and HUD finds that most of them are happy with their houses and neighborhoods.
20 Metros That Could See Price Declines
According to PMI Mortgage Insurance Co., more than half the markets it tracks are at risk of declining home values.
Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA 99201
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
Please remember to choose Stewart Title of Spokane on your next transaction!