Today’s news that may be of interest to you:
New-home Sales Plunged in February to Record Low
The Washington Post | March 23, 2011
Buyers of new homes plunged in February to the fewest on records dating back nearly half a century, a dismal sign for an already-weak housing market.
US Stocks Look Glum With Overseas Worries, Poor Housing Data
The Wall Street Journal | March 23, 2011
U.S. stocks fell to session lows after data showing that February new home sales in the U.S. hit a record low, underscoring the continued weakness of the housing market.
Freddie Pushes Servicers to Contact Borrowers by 3rd Day of Delinquency
DSNews | March 23, 2011
The nation’s second largest mortgage company says early workouts are central to its game plan for 2011.
Mortgage Insurers are No Substitute for 20% Down: Institutional Risk Analytics
HousingWire | March 23, 2011
Allowing private mortgage insurance to function as a substitute for federal guarantees on loans would be a huge mistake, according to analysts working for Institutional Risk Analytics.
Jobless Claims in U.S. Fell by 5,000 Last Week to 382,000
Bloomberg | March 24, 2011
Fewer Americans filed applications for unemployment benefits last week, signaling the labor market is mending.
From the National Association of Realtors®:
Homes Near Nuclear Plants Face New Challenges
Experts say buyers likely will have a new question for their real estate professionals amid the Japan crisis: “How far is this home from a nuclear reactor plant?”
Vacation Home Sales on the Rebound
Vacation home hotspots were among some of the hardest hit areas in the country from the housing downturn, but now many are seeing a surge in sales.
Detroit’s Population Plunges by 25% in a Decade
Once the nation’s fourth largest city, Detroit has faced a steep population drop in the last decade that has many worried.
Anthony V. Carollo / President
Stewart Title of Spokane
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