Today’s Real Estate News 3-22-2011

22 Mar

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

Moody’s Expects Temporary GSE Exemption from Mortgage Risk Rules
HousingWire | March 21, 2011
Analysts at Moody’s Investors Service said Monday regulators may exempt Fannie Mae and Freddie Mac from upcoming mortgage risk retention rules – at least temporarily.

Analysis: Back-in-Vogue Rentals to Aid Housing Market
Reuters | March 21, 2011
A nascent boom in the demand for rental apartments is luring U.S. property developers from the shadows, and their efforts to meet that demand are softening the blow for a still sliding housing market.

US Home Sales Fall More Than Expected
Financial Times | March 21, 2011
Sales of homes in the US fell more sharply than expected in February, following three straight months of gains, and prices dropped sharply as the combination of tight credit and growing inventory weighed on the market.

Statewide Shadow Inventory Rocked by Foreclosure Snafu
HousingWire | March 21, 2011
Foreclosure time lines and an abundance of distressed home sales are causing wide fluctuations in shadow inventory across the country.

Fed to Name Banks That Took Out Emergency Loans
The Washington Post | March 22, 2011
The Federal Reserve will release details of the banks it lent money to during the financial crisis after losing a court battle to keep the information private.

Discounts Expected in Spring Housing Market
The Wall Street Journal | March 21, 2011
Sales of previously owned homes fell sharply in February, setting the stage for steep discounting in the spring market.

Defining Subprime: Easier Said Than Done
The Wall Street Journal | March 21, 2011
The Securities and Exchange Commission’s probe into Fannie Mae and Freddie Mac appears to be hinging on a simple question: What’s the definition of a subprime mortgage?

ARMs Suit Some, but What About You?
Fox Business | March 21, 2011
At a time when 30-year fixed-rate mortgages are hovering just above historic lows, does it make sense to get an adjustable-rate mortgage? A growing number of people seem to think so. An estimated 10% of borrowers, up from 3% in 2009, will opt for an ARM this year, according to a recent Freddie Mac survey of 112 lenders nationwide.

Citing Importance of Housing, Lawmakers Work to Ease Credit Woes
Nation’s Building News | March 21, 2011
Appearing at the National Housing Center on March 16 at the start of the annual NAHB Legislative Conference, Reps. Brad Miller (D-N.C.) and Patrick Tiberi (R-Ohio) pledged to work with home builders to help restore credit for housing production and get the industry back on track.
From the National Association of Realtors®:

Existing-Home Sales Dip in February
The decline in existing-home sales is a product of an “uneven recovery,” NAR Chief Economist Lawrence Yun says.

Don’t Cut Home Insurance, Experts Say
More home owners are considering reducing their homeowners insurance coverage because of falling property values. But experts warn that’s not a good idea.

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

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