About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
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Maya Roney over at BusinessWeek recently wrote this interesting review of the mortgage troubles the US is currently facing. She sees signs that the worst my be past us now:

In recent months, mortgage issues have been a main force hampering home sales but, according to a new report from the National Association of Realtors, mortgage availability is finally improving—even as home sales continue to slide.

The rate of existing-home sales dropped 8% in September to a seasonally adjusted annual rate of 5.04 million units from a downwardly revised rate of 5.48 million in August, according to the NAR study released Oct. 24. The national median price of existing-homes sold in September fell 4.2% year-over-year, to $211,700. September, 2007, marked the seventh consecutive month in which existing-home sales decreased.

This continuous decline in home sales has been predictable, to put it lightly. After existing-home sales fell 4.3% in August, the NAR advised realtors and homeowners to expect “similar results” in September and cited “temporary mortgage problems” as the main reason for poor home sales in August.
Jumbo Rates Down.

Comments (0) Posted by G.R.A. Admin on Wednesday, October 24th, 2007


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