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Real Estate News Today 11-11-2011

11 Nov

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

Mortgage Rates Fall Below 4% for Second Time: Freddie
The MReport.com | November 10, 2011
Ongoing trouble in Europe meshed with low home prices to keep a heel on mortgage rates this week, with Freddie Mac offering up news that interest rates for loans fell below 4 percent for the second time this year.

Wells Fargo forms new group to finance REITs
HousingWire | November 9, 2011
Wells Fargo & Co. announced the creation of a new business segment Wednesday that will provide financing for real estate investment trusts.  Wells Fargo REIT Finance Groupwill offer banking services, lines of credit, term loans and construction loans to REITs.

Why you can’t get the lowest mortgage rates
MarketWatch | October 31, 2011
Mortgage rates are near historical lows, but the rates lenders are quoting you aren’t as eye-popping as those you see in the news.  Why is that?

S&P says mistakenly announced French downgrade
Yahoo! News | November 10, 2011
Ratings agency Standard and Poor’s said Thursday that it had mistakenly announced to some clients a downgrade of France’s top “AAA” credit rating, amid speculation of just such a move.  “As a result of a technical error, a message was automatically disseminated today to some subscribers of S&P’s Global Credit Portal suggesting that France’s credit rating had been changed,” S&P said in a statement.

Key lesson from Iceland crisis is ‘let banks fail’
Yahoo! News | November 5, 2011
Three years after Iceland’s banks collapsed and the country teetered on the brink, its economy is recovering, proof that governments should let failing lenders go bust and protect taxpayers, analysts say.

From the National Association of Realtors®:

Survey Reveals Why Buyers Are Waiting on Sidelines
“Perceptions as much as the realities of home ownership are standing in the way of boosting demand for housing,” says a spokesperson for Move Inc. about new survey findings.  (It seems to me that the “younger generation” is misinformed or misguided about the cost of housing-or on what it should cost.  We need to educate them!  Read for yourself and you decide. ~Anthony) 

Falling Rates Send Mortgage Apps Soaring 10%
More borrowers took advantage of lower interest rates this past week to buy homes and refinance existing loans.

Federal Gov’t Properties Hit the Auction Block
The federal government is trying to unload some real estate, and your buyers can now start the bidding in online auctions on various government properties, including residential homes in sought-after areas.

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!

 

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