Tag Archives: first time home buyers

Low Interest Rates Bring Out More People Looking For Mortgages

Lending standards have become much tighter over the past four years. Lower interest rates usually lead to more people applying for refinancing and other mortgages. Report: In April 2008, the federal government started handing out tax credits to first-time home … Continue reading

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Banks Fight New Mortgage Loan Rules

I can’t get over this first paragraph from this New York Times’ news report: “The weight of the mortgage crisis fell heavily on lower-income and minority communities, where first-time home buyers often fell victim to the predatory lending practices that … Continue reading

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More First-Time Home Buyers

With interest rates near record lows and home prices steadily declining, people who’ve never bought a home are now in the market. What’s keeping more of them from buying is the widespread belief that home prices will fall another 5% … Continue reading

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Why Are We Throwing Good Money After Bad?

We now know that the cash-for-clunkers program cost the U.S. taxpayer about $24,000 for every new car bought. Does that sound like a good deal to you? I’m not sure how much the new home purchase tax credit is costing … Continue reading

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News Still Grim For The Housing Market

With the income tax credit due to expire and unemployment rising, the outlook for the housing market is grim. We’ve had three straight months of stability of home prices and sales after two years of both dropping rapidly. Home prices … Continue reading

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Fannie Mae, Freddie Mac Need More Money

They’ve absorbed $96 billion in bailout funds and may need more. Yay! They’re reckless in lending and this non-governmental agency keeps sucking away on the taxpayer tit. Since July of 2007, Fannie and Freddie have lost $165 billion. Fannie and … Continue reading

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Mortgage Loan Rates Fall

Mortgage applications are down too. This is the first time since July that loan requests dropped for the first time six weeks. The housing market has apparently stabilized after three years of plunging prices. This was the steepest plunge since … Continue reading

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Senate Passes Mortgage Relief

From the Los Angeles Times: Congress completed work Saturday on the government’s most sweeping response yet to the nation’s housing crisis, sending to President Bush a bill designed to help homeowners avoid foreclosure, spur home buying and prop up struggling … Continue reading

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Home Sales Unexpectedly Rise

From the New York Times: Pending home sales unexpectedly rose in April to the highest reading since October, an industry group said Monday, but experts said the large proportion of distressed property sales would continue to weigh down prices. A … Continue reading

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How The Mortgage Market Has Changed

Amy Bonis writes: The mortgage market has changed but for many, it has gotten better. Most folks don’t know this. Interest rates have come down. On the flip side, new first time buyer programs have evolved that are absolutely fantastic … Continue reading

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