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Mortgage Information for Getting the Best Mortgage Loan

Peter — Wed, 07 Apr 2010 00:28:37 -0500

If you are considering taking a mortgage loan then it is very natural that you will look for the best mortgage rates. As every type of mortgage, first mortgage or second mortgage or refinance mortgage is a product; there is always scope of negotiation in case of price and loan terms. In order to get the best mortgage loan, you need to shop around, compare and negotiate with the lenders.

U.S. Home Prices Take Largest Decline on Record

Naomi M — Mon, 26 Jan 2009 10:03:29 -0600

The median national home price of existing homes in the U.S. fell 15.3 percent from the year earlier to $175,400. This is the largest decline since the National Association of Realtors started keeping records and probably the largest since the Great Depression, Lawrence Yun, NAR chief economist told reporters.

The inventory of existing homes for sale fell 11.7 percent to 3.68 million units from 4.16 million in November, translating into 9.3 months of supply.

Mortgage Crisis in US Will Total 945 Billion in Losses

Naomi M — Thu, 01 May 2008 13:55:55 -0500

Earlier this month the International Monetary Fund said the worldwide losses resulting from the US subprime mortgage crisis could hit 945 billion dollars as the fallout spreads throughout the global economy.

The IMF report said that falling US housing prices and rising defaults of residential mortgages could lead to losses of 565 billion dollars.

Housing Slump Continues as New Starts Drop 25 Percent

Naomi M — Thu, 17 Jan 2008 09:25:33 -0600

Housing starts for 2007 were down 25 percent, the biggest drop since 1980, to 1.354 million according to a Commerce Department report released today.

Building permits declined by the most in 12 years, indicating the housing slump will deepen as it enters a third year. Rising foreclosures will throw even more houses onto the market, hurting property values and threatening to push the economy into recession, economists said.

More Bad News for Housing Market as Supply of Homes Hits Highest Level in 22 Years

Naomi M — Thu, 29 Nov 2007 16:23:53 -0600

The supply of homes for sale is up to the highest level in 22 years. The National Association of Realtors reported Wednesday sales of existing homes fell for an eighth straight month in October while more properties came on the U.S. housing market.

Sales are down 20.7% in the past year and are down 31% from the peak of 7.21 million two years ago. The inventory of unsold homes rose by 1.9% to 4.45 million, representing a 10.8-month supply, the highest in at least eight years.

Housing Slump Adversely Affecting Sales of Big-Ticket Items

Naomi M — Thu, 15 Nov 2007 09:23:33 -0600

A weak housing market and a slowing economy continue to reduce demand on big-ticket items like furniture products.

La-Z-Boy posted a loss of $9.9 million, or ($0.19) per share, compared with a profit of $2 million, or $0.04 per share, in the year ago period.

Consumers Have Empty Pockets
Consumers continue to shy away from purchasing big-ticket items like furniture amid weak housing conditions, higher gas prices, and mounting credit worries. As a result, the outlook for La-Z-Boy remains uncertain.

Subprime meltdown equals credit crunch equals huge losses for big companies

Naomi M — Wed, 07 Nov 2007 09:44:33 -0600

Merrill Lynch could face as much as $10 billion in additional write-downs on collateralized debt obligations, subprime-mortgage bonds and the like, according to Deutsche Bank's Mike Mayo. That's on top of the $8.4 billion that helped trigger the ouster of former Chief Executive Stan O'Neal.