Gov't extends deadline for refinance program (AP)
AP
- The government is giving homeowners another year to refinance their
loans under a little-used program designed to help borrowers whose
homes have plummeted in value.
Jobless, productivity data lift recovery hopes (Reuters)
Reuters
- The number of U.S. workers filing for jobless benefits fell last
week, but a surprise drop in pending home sales to a 10-month low in
January underscored the uneven nature of the economic recovery.
Consumers Paying Credit-Card Bills Before Mortgages (Time.com)
Time.com
- When cash is tight, consumers traditionally pay their mortgage first
and let other bills stack up. But now credit-card bills are the top
priority
FDIC to grease mortgage market with $1.8 bln deal (Reuters)
Reuters
- The U.S. Federal Deposit Insurance Corp is planning to sell $1.8
billion of guaranteed asset-backed debt, according to IFR, in what may
be a step toward restoring confidence in securities closely tied to the
financial meltdown.
The Future of Home-Price Appreciation (U.S. News & World Report)
U.S.
News & World Report - After its historic decline brought the global
economy to its knees, the U.S. housing market is gearing up for a
long-awaited recovery. Real estate experts expect home prices to hit
bottom in late 2010 or early 2011 before--finally!--heading north
again. But what shape will the rebound take? Are we in for another
boom? Or will we have to settle for sluggish growth? Here's the outlook
for home price appreciation through 2020.
Pending home sales unexpectedly plunge (Reuters)
Reuters
- Contracts for pending sales of previously owned homes unexpectedly
fell in January, a survey showed, brought down in part by harsh weather
in the U.S. Northeast.
Hovnanian CEO: Glut of unsold homes easing (AP)
AP
- The CEO of Hovnanian Enterprises Inc. said a modest surge in
foreclosures this year wouldn't have a devastating effect on the
homebuilder's sales.
Fed's Rosengren: Low interest rates appropriate now (Reuters)
Reuters
- Low U.S. interest rates were not the sole cause of the housing
bubble, a top Federal Reserve official said on Wednesday, adding that
ultra-low interest rates are appropriate now.
