Rates on 30-year-fixed mortgages dropped this week to their lowest levels in at least 37 years, as the Federal Reserve pledged to pour money into the mortgage market in an effort to spur the moribund U.S. housing market. Read the Full Story: http://www.floridarealtors.org/NewsAndEvents/n2-121908
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12/19/2008
REAL ESTATE ECONOMYSo what does 2009 look like for real estate? HGTV's FrontDoor.com offers 10 predictions that include an end to the recession, smarter consumers, less abusive lending and still-falling prices early in the year.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-1
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12/18/2008
FORECLOSURESBecause of complications and other factors, buyers may be less interested in dealing with foreclosures or short sales, according to a new survey. It found that 47 percent of U.S. adults would consider buying a home in foreclosure, down from 54 percent only seven months ago. Read the f
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12/17/2008
FORECLOSURESFannie Mae said Monday it's finalizing a plan to help renters stay in their homes even if their landlord enters foreclosure. The mortgage giant says renters who can make their monthly payments could be offered a new lease or given cash to help move to a new home.Read the full story:ht
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12/16/2008
FINANCIAL BAILOUTMany small community banks are growing frustrated about their inability to access the government's $700 billion financial rescue fund, nearly two months after large banks began tapping the fund for much-needed capital. Some small banks in Florida would likely benefit from the cas
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12/15/2008
MORTGAGE MODIFICATIONSAs lawmakers and housing advocates push the federal government to help cut the foreclosure rate, some data indicates that more than half of loans modified in the first quarter of 2008 still fell delinquent within six months. Experts say one possibility is that the modificati
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12/12/2008
MORTGAGE RATESGovernment efforts to provide easier credit to consumers and jumpstart flagging home sales could push mortgage rates "well below 4 percent," a federal regulator said Wednesday. Realtors, builders and other groups have been lobbying in Washington for federal action to help stabilize
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12/11/2008
FANNIE MAE AND FREDDIE MACThree months after the government seized control of Fannie Mae and Freddie Mac, lawmakers blamed former top executives at the mortgage giants for fueling the financial market turmoil that has dragged the country into a recession. "Their irresponsible decisions are now co
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12/10/2008
PENDING HOME SALESOctober's pending home sales eased 0.7 percent against a deteriorating economic backdrop but remained stable, according to NAR. In the South, however, pending home sales jumped 7.8 percent. Going forward, NAR Chief Economist Lawrence Yun expects lower mortgage rates to tempt pen
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12/09/2008
FORECLOSURESA weakening Florida economy helped push 90,000 more homes into foreclosure in the third quarter, amid mounting job losses and falling home prices, according to an industry report released Friday.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-120808.cfm
12/08/2008
