Real Estate Rebound? Weak Housing Data Hides Seeds of Hope, Analyst Says AdvisorOne
While this week has produced mostly grim news in the housing sector, a top real estate industry consultant offers a far more encouraging big-picture view of the key economic sector. Mark Boud of Real Estate Economics in Irvine, Calif., said he believes home prices may have finally hit bottom, that the foreclosure mess creates genuine business opportunities and that energy-efficient housing has the potential to revitalize the entire economy.
The Commerce Department announced Tuesday that new home sales declined by nearly 1% in July, and for the third straight month; the Federal Housing Finance Agency on Wednesday said home prices declined 5.9% in the second quarter; and the Mortgage Bankers Association (MBA) this week reported a rise in mortgage delinquencies for the second consecutive quarter.
While these statistics suggest that real estate continues to be a drag on the economy, they may mask more positive emerging trends. For example, longer-term mortgage delinquencies, those that are 90 days or more past due, are at their lowest point since early 2009, and the MBA sees no signs of a large backlog of homes that banks on which are waiting to foreclose.
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Homeowners refinance at lower mortgage rates - The News-Press Homeowners refinance at lower mortgage rates SACRAMENTO, Calif. — When California state employee Tim McManus peers into the future, he sees 4.5 percent interest. “I’m hoping it will go down more. |
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It's tough, but still possible, to refinance Mortgage insurance, which protects the lender from loss if you default on your loan, also may be a way to overcome insufficient equity. |
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Central Pacific Financial Corp. Q4 2008 Earnings Call Transcript - Seeking Alpha Central Pacific Financial Corp. Q4 2008 Earnings Call Transcript We expect repayment on the non-performing loan to come from either a sale, a refinance, or a longer-term amortization. In Sacramento, we have outstanding |
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Obama may subsidize troubled mortgages A rally to ask state lawmakers to stop home foreclosures and help modify loans outside the California State Capitol in Sacramento, November 25, 2008. |
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Senate stimulus bill includes delta money - Fresno Bee Senate stimulus bill includes delta money By Michael Doyle / Bee Washington Bureau WASHINGTON -- The Senate thinks stimulating the US economy and saving the Sacramento-San Joaquin Delta can go |