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News and commentary regarding the economy and financial and real estate markets.

What’s Ahead For Mortgage Rates This Week: May 14, 2012

Mortgage markets worsened slightly last week as positive U.S. economic news overshadowed growing concerns for the Eurozone’s future. Political and economic issues continue to weigh on Greece and Spain, and it’s still unknown how France’s new President will change that nation’s fiscal direction. Continue reading

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What’s Ahead For Mortgage Rates This Week: May 7, 2012

After two weeks of little change, mortgage markets got a little better and rates moved lower last week. Much of the decline could be traced to the the poor job numbers released on Friday. Continue reading

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Official Nonfarm Unemployment Rate Falls to 8.1%, But Here’s the Bad News

CNN is reporting that the official unemployment rate has dropped to 8.1% with the release of the nonfarm payroll numbers this morning. At first glance, this might sound like a positive development, but unfortunately, it’s not all good news. Continue reading

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What’s Ahead For Mortgage Rates This Week: April 30, 2012

Mortgage markets were mostly unchanged last week for the second straight week. Continue reading

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Pending Home Sales Index Shows Some Strength

The Pending Home Sales Index posted 101.4 in March, a four percent gain from the month prior and the index’s highest reading since April 2010, when the home buyer tax credit expired.

A “pending home” is a home under contract to sell, but not yet closed. The Pending Home Sales Index is tracked and published by the National Association of REALTORS® every month. Continue reading

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US Home Prices Dropped For a Sixth Straight Month in February

Home prices continued their slide in February, according to Standard & Poor’s Case-Shiller home price index. National home prices have now fallen a total of 35% from the highs hit in 2006 and are back at 2002 levels. With prices and mortgage rates as low as they are, this is a great time to purchase a home. Home affordability has already been better than it’s been in years, but it continues to get even better. Continue reading

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March Foreclosure Filings Fall Below 200,000 For the First Time Since July 2007

According to foreclosure-tracking firm RealtyTrac, foreclosure filings fell to 199,000 in March 2012, a 17% decrease from March 2011. Last month marks the first time since July 2007 that foreclosure filings numbered less than 200,000 on a monthly basis. Continue reading

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Best Cities to Raise a Family: The Forbes Top 10

Looking for a great place to raise a family? Forbes Magazine has a list that may help you. Continue reading

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What’s Ahead For Mortgage Rates This Week: April 9, 2012

In a week of up-and-down trading, mortgage markets improved for the second consecutive week last week. Weaker-than-expected jobs data plus evidence of a slumping Eurozone took mortgage bonds lower, capped by a furious Friday morning rally that dropped mortgage rates to near-record levels. Continue reading

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Where You Can Buy a House for the Price of a Car

Is it hard to conceive that you can buy a house for the price of an average car? Thanks to the real estate bust and subsequent foreclosure mess, in many areas it’s now possible. AOL Real Estate has an interesting slideshow that demonstrates just how the real estate market has turned from the heady days of the real estate bubble. Continue reading

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