Mortgage Applications At Six Year Low - Political Opinion

In another grim reminder of the struggling real estate market and the recession of 2008, the Mortgage Bankers Association of America released a report Wednesday the puts mortgage applications at six year lows. Read more

Homebuilding Slumps to 17 Year Low

There appears to be no end in sight to the housing crisis and, more broadly the recession of 2008. A government report issued Tuesday showed that builders broke ground on the fewest number of homes since March 1991, marking a 17 year low. Read more

Foreclosure Activity Climbs 8% in July

RealtyTrac(R) today released its July 2008 U.S. Foreclosure Market Report(TM), which shows foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 272,171 U.S. properties during the month, an 8 percent increase from the previous month and a 55 percent increase from July 2007. Read more

West Virginia Latest State to Sue Countrywide

Add West Virginia to the growing list of states lining up to sue Countrywide Financial Corp. over alleged predatory lending practices. State Attorney General Darrell McGraw filed suit Tuesday against the nation’s largest lender and servicer, it’s former subsidiaries, and against former Countrywide CEO Angelo Mozilo. Read more

Improvement Projected for Existing-home Sales in the Months Ahead

Some improvement is projected for existing-home sales in the months ahead, with broader gains seen by the fourth quarter as buyers take advantage of new provisions provided through the recently passed housing stimulus bill, according to the latest forecast by the National Association of Realtors(R). Read more

Reality Gap, 62% of Homeowners Believe Their Home’s Value has Increased Or Stayed the Same in the Past Year

Despite widely covered housing woes and significant market data to the contrary, homeowners reveal high confidence in the value of their own home with even greater optimism for the next six months, according to the Zillow(R) Q2 Homeowner Confidence Survey(1) of 1,361 U.S homeowners conducted by Harris Interactive(R). Highlights of the survey are below. Read more

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