Real Estate News Today 10-25-2011

25 Oct

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

FHFA Mortgage Refi Boost Expected to be Modest
HousingWire | October 24, 2011
Analysts expect results from the changes to the Home Affordable Refinance Program announced Monday to be modest, but the Obama administration said it is working to expand the number of reachable borrowers even further.

Fed Wants to Ensure Housing Affordability, Dudley Says
Bloomberg | October 25, 2011
Federal Reserve Bank of New York President William C. Dudley said the central bank wants to keep mortgage interest rates from rising too much and may do more to hold down borrowing costs.

Home Prices in U.S. Likely Fell More Slowly
Bloomberg | October 25, 2011
Home prices in 20 U.S. cities probably fell at a slower pace and consumer confidence hovered near a two-year low, highlighting the obstacles facing the recovery in its third year, economists said before reports today.

After 4 years of Housing Crisis, Voters Giving up Hope for Help from Politicians, Government
The Washington Post | October 25, 2011
Across America, despite the hundreds protesting for limited government or more government action, a broad swath of the middle class hit hard by the crash in housing prices is quietly resigned, given up on seeing any relief – particularly from politicians.

The Home Affordable Refinance Program (HARP): What You Need to Know
The Washington Post | October 25, 2011
Here’s a quick breakdown of what you need to know about the changes.

A Surge in Poverty Is Reshaping Suburbs
The New York Times | October 25, 2011
The poor population in America’s suburbs rose 53 percent last decade, double the 26 percent increase in cities, confronting communities with unaccustomed challenges.

From the National Association of Realtors®:

Homeownership Rate Second-Highest on Record
The homeownership rate is at its second-highest level on record, according to a new Census Bureau report. Find out which regions and cities have the highest rates.

Study: Better to Live Near Vacant Home Than Foreclosure
Living near an occupied property in foreclosure can bring down home prices nearly twice as much than just living next door to a vacant home, a new study finds.

Nevada Law Threatens Mortgage Servicers With Felony
Foreclosures have slowed in Nevada since a new law took effect that says servicers could face felony charges for any mistakes made in the processing of foreclosures.


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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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