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Today’s Real Estate News 9-10-2010

10 Sep

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

Thirty-Year Mortgage Rises for First Time Since June
The Wall Street Journal | September 9, 2010
After weeks of falling, the average interest rate on a 30-year fixed-rate home mortgage rose slightly this week, according to Freddie Mac’s weekly survey of conforming mortgage rates, released on Thursday. And the average rate on a 15-year fixed-rate mortgage remained unchanged from last week. (Maybe we’ve touched bottom?  What do you think?  Feel free to comment below!)

Top Adviser to Lead Panel on Economy
The New York Times | September 10, 2010
President Obama on Friday will promote a longtime economic adviser, Austan D. Goolsbee, to chairman of his Council of Economic Advisers, signaling continuity even as a high unemployment rate has left much of the public dissatisfied with administration policies.

Upcoming FHA Insurance Premium Increases Modeled on 7-year Expectations
HousingWire | September 9, 2010
Whether or not the increases in Federal Housing Administration premiums will bring its insurance fund back to good health is dependent on the borrower paying the higher fees for at least seven years of the mortgage, according to data provided by the FHA to HousingWire.

FHA Chief Risk Officer Expects Better Performance from Newer Mortgages
HousingWire | September 9, 2010
Bob Ryan is the first chief risk officer of the Federal Housing Administration. He was hired in October 2009. A recent increase in the FHA insurance premiums is stirring some controversy in the market as to when the policy changes will help the insurance fund.

TARP Dividend Payments Total $16 Billion, Treasury Figures Show
Bloomberg | September 9, 2010
The U.S. Treasury Department has received about $16 billion in dividends and interest on its investments in banks, insurance companies and automakers through the Troubled Asset Relief Program, a report showed.

Zillow Says Fewer Home Sellers Are Cutting Asking Prices
DSNews | September 9, 2010
For the first time in five months, fewer home sellers cut the asking price of their home in August, according to the online real estate marketplace Zillow.

Reports: Distressed Commercial Real Estate Equals $187B
DSNews | September 9, 2010
The total value of distressed commercial real estate (CRE) in the United States right now is $186.9 billion, including properties in default, foreclosure, and lender REO, according to data from the research firm Real Capital Analytics.

Freddie Mac Plans to Sell Bonds Backed by Apartment Loans
Bloomberg | September 9, 2010
Freddie Mac, the mortgage-finance company under U.S. government control, plans to sell about $1 billion of securities backed by loans on apartment buildings.

Consumer Watchdog Candidate Elizabeth Warren Pays Another Visit to White House
The Washington Post | September 8, 2010
Elizabeth Warren slipped quietly into Washington on Tuesday to talk with President Obama about the possibility of leading the new Bureau of Consumer Financial Protection, according to people familiar with the meeting.

From the National Association of Realtors®:

Fed Beige Book Sees Mixed Housing Activity
Seven of the 12 regions tracked by the Fed see an uptick in economic growth.

Builders Resuscitate Stalled Projects
Lower prices increase the feasibility of projects that weren’t panning out.

Builders Back Away from Ready-to-Build Property
Slower sales reduce the need for more land acquisitions.

Anthony Carollo 2007 EMAIL  

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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
acarollo@stewart.com

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

www.StewartSpokane.com

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