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A report on housing prices by Global Insight says that although prices for single-family homes are still heading downwards across the country, the rate of decline has gone down and " extreme overvaluation of house prices is essentially non-existent ." The only states that had extreme overvaluation...
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The S&P Case-Shiller home price index for Q1 continued to deteriorate with the 20-city composite index posting a record annual decline of 14.1%. In March, the index also declined by an annualized 14.4%. The Case-Shiller index has fallen every month since peaking in July 2006. "The steep downturn in residential...
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The S&P Case-Shiller home price index continued its sharp decline in February as both the 10-city and 20-city composite indexes posted record annual declines in excess of 12.5%. The 20-city composite index, which tracks the price path of typical single-family homes in 20 metropolitan areas, fell by 12...
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The Standard & Poor's S&P/ Case-Shiller Home Price Indices (HPI) for January which were released on Tuesday are reporting further bad news on the home value front. The HPI which tracks, in two different indices, 10 and 20 metropolitan statistical areas (MSAs) across the United States, reported...
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The Standard & Poor's/ Case-Shiller home price index for October, released on Wednesday, fell again for what is the 10th consecutive month. The 6.7 percent drop from figures a year earlier was the largest recorded by the index since April, 1991 when prices declined 6.3 percent. The S&P/Case-Shiller...
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The U.S. Council of Mayors released a devastating report on the impact on member communities of the ongoing housing market problems. The report, prepared by Global Insight , an economic forecasting firm, was presenting at a meeting of the Conference attended by mortgage industry and community groups...
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What a fascinating and tumultuous time is upon us! Both the housing and the mortgage market are convulsing wildly! There are so many facets to the "big picture" that I would never presume have all the answers, so the following disclaimer is in order: I am a mortgage broker and the following is my opinion...
Posted to
MND NewsWire
by
Glenn Setzer
on
Thu, Nov 1 2007
Filed under:
Filed under: housing bubble, home builders, home prices, Freddie Mac, adjustable rate mortgage, Fannie Mae, Conforming Loan, lending standards, mortgage lenders, home equity, underwriting, mortgage backed security, alternative loans, credit rating, real estate boom
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The OFHEO House Price Index (HPI) usually doesn't get too much attention (except here where we regard it as the best, or at least the most interesting of the periodic housing indicators) but this time around people began anticipating it days before it was actually issued and there was speculation that...
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Freddie Mac seems to be seeking a little cover in its March 2007 Economic Outlook released late last week. These monthly forecasts always have a theme which the authors tend to torture relentlessly and this month it is the old adage - "In Like a Lion..." News about the housing market is likened to the...
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Unlike the see-saw figures on housing sales and house prices that come out monthly from the National Association of Realtors and the Census Bureau, the House Price Index (HPI) published quarterly by the Office of Federal Housing Enterprise Oversight (OFHEO) takes the longer view. The HPI for the fourth...
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Existing-home sales had a rough 2006 fourth quarter according to figures released Thursday by the National Association of Realtors. Total existing-home sales including single-family houses, condos, townhouses, and coops were at a seasonally adjusted annual rate of 6.24 million units during the quarter...
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Is it the end of the end of the housing bubble ? The National Association of Realtors (NAR) seemed to think so as it issued its November report on the sales of existing houses, the second month in a row when sales showed slight improvement over the previous month. New home sales also showed signs of...
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As usual, fresh on the heels of the National Association of Realtors monthly report on the status of existing home sales , the U.S. Census Bureau and the U.S. Department of Housing and Urban Development have released their joint monthly report on the sales of new homes for the month of October 2006....
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Accentuate the positive. Gild the lily. Lots of cliches come to mind after reading the third quarter summary of existing home sales released on Monday by the National Association of Realtors. While the statistics showed that sales of previously owned homes and condos were down 12.7 percent from the third...
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New home prices took a heck of a hit in September according to information released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development on Thursday. This disquieting news came hard on the heels of a National Association of Realtors survey released on Wednesday that showed...