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REALTORMag.com’s recent article reported on a study performed by PMI Mortgage Insurance Company which showed that, of the 50 most populous metropolitan areas in the United States, Long Island was one of the top 20 housing markets that would see a further decline in housing prices. Long Island was 19th overall as being the nation’s riskiest … Continue reading Long Island Named One of Riskiest Housing Markets The second quarter of 2010 proved to be the most brutal time period in home ownership in a decade. Bloomberg News recently reported that 18.9 million homes were vacant in that period. The U.S. Census Bureau reported that the home ownership rate — that is, households that own their own residence — was 66.9 percent, … Continue reading Foreclosures Push Home Ownership to Record Lows On June 30, the U.S. Senate passed a bill that would extend the deadline for people looking to receive the federal homebuyers’ tax credit from June 30 to September 30 to give lenders more time to complete the paperwork. The bill, if it is signed by President Barack Obama, will help 180,000 homebuyers who otherwise … Continue reading Tax Credit Extensions Helps Homebuyers Seal The Deal The Washington Post reported today that 30-year fixed-rate mortgages fell to 4.69% this week, down from 4.75% last week. According to Freddie Mac, this is the lowest rate since the government-owned lender tracked such data in 1971. This news should encourage more people to buy a home, but, in reality, the opposite is happening. Citing the … Continue reading Can Record-Low Mortgage Rates Propel Home Sales? |
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