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The First-Time Home Buyer Tax Credit : Use It By December 1, 2009 Or Lose It

July 17, 2009

The government’s First-Time Home Buyer Tax Credit expires December 1, 2009. If you expect to use the program in conjunction with a home purchase, therefore, you may want to consider yourself officially “on the clock”. Assuming a 60-day window between contract and closing, there are now 77 days left to find a home and go under contract for it.

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Foreclosures Still Concentrated In Just A Few States

July 16, 2009

For the fourth consecutive month, the country’s foreclosure activity was dominated by a small number of states. As reported by RealtyTrac.com , more than 50 percent of the country’s foreclosure-related actions in June concentrated in just 3 states: California Florida Nevada The states rounding out the Top 10 include Arizona, Georgia, Michigan, Texas, Ohio, Illinois and Colorado. Meanwhile, June’s reported foreclosure figures are consistent with the data from earlier this year, suggesting that the foreclosure remedy plans put forth by the government and by lenders can barely keep pace with the national default rate.

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What’s Ahead For Mortgage Rates This Week : July 6, 2009

July 6, 2009

Mortgage markets were relatively calm throughout last week’s holiday-shortened trading sessions. After trading within a tight range between Monday and Wednesday, a weak jobs report helped edge rates lower into the weekend. For the second week in a row, mortgage rates ended the week lower than where they started — if only slightly.

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Home Prices Show Improvement In 19 of the 20 Case-Shiller Markets

July 1, 2009

Tuesday — for the first time in a long while — members of the press met the monthly Case-Shiller Index data with enthusiasm. And why shouldn’t they?

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With The Year Half-Over, How Accurately Did Economists Predict 2009

June 30, 2009

At the start of the year, the “experts” made a lot of predictions about the U.S. economy and what to expect in 2009

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What’s Ahead For Mortgage Rates This Week : June 29, 2009

June 29, 2009

Mortgage markets improved last week on the heels of benign economic data and a non-inspired press release from the Federal Reserve. Aside from trader momentum, 3 market-moving events helped set the pace last week: Housing data hinted at strength Jobless data showed softness The Fed said growth appears on-track The combination of the three created volatility that — for just the second time in the last 8 weeks — worked in favor of rate shoppers.

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In Another Good Sign For The Housing Market, Builders Are Clearing Out Their Inventory

June 26, 2009

If you only saw the headlines this week, you may have missed another positive sign in the housing market. According to the Census Bureau, the supply of newly-built homes for sale fell to 10.2 months in May, its lowest level in 10 months

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3 More Signs Of A Strengthening Housing Market

June 24, 2009

The housing market got another dose of good news yesterday. According to the National Association of REALTORS, the number of homes sold in May increased for the third straight month and the national housing supply fell by 5 months

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Like To Play It Cautious? Consider Rate Locking Ahead Of Wednesday’s Federal Reserve Meeting.

June 23, 2009

The Federal Reserve begins its scheduled two-day meeting this morning. It’s one of 8 scheduled meetings for the Federal Open Market Committee this year. When the FOMC meets, it discusses the financial and economic conditions around the country and, when appropriate, the group makes new policy meant to speed up or slow down the economy

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How To Fight Mortgage Rate Volatility

June 19, 2009

Mortgage rates are suffering through another volatile week, causing problems for rate shoppers and home buyers. After falling Monday and Tuesday, mortgage rates surged Wednesday and Thursday. The momentum higher appears to be carrying into the weekend, too

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The Double-Edged Sword That Is Rising Housing Starts

June 17, 2009

After being range-bound since the start of the year Housing Starts unexpectedly jumped in May, surprising analysts and Wall Street.

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What’s Ahead For Mortgage Rates This Week : June 15, 2009

June 15, 2009

The mortgage market roller coaster continues. Markets worsened badly in the early part of last week, before rallying into Friday’s close. Overall, mortgage rates were slightly higher for the week even though — briefly — they rose to levels not seen since November 2008.

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VIDEO : How To Know Which Home Repairs Can Be Delayed And Which Should Be Fixed Right Away

June 12, 2009

When finances are tight, homeowners are often forced to choose between making home repairs right away, and putting them off until finances improve. Some repairs, though, become more expensive if not tackled on the double.

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How To Receive A Cash Gift For Downpayment

June 10, 2009

Tighter mortgage guidelines since late-2008 are forcing home buyers to make bigger downpayments. Anecdotally, the change has led to a surge in buyers taking gifts of cash from family members

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Want To Know Why Mortgage Rates Are Up Over 1.125 Percent In 10 Days?

June 9, 2009

Since Memorial Day, conforming mortgage rates have jumped by more than 1.125 percent, adding thousands of dollars to the annual cost of homeownership. To the casual observer, the moves may seem random. There’s a reason this is happening, however

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What’s Ahead For Mortgage Rates This Week : June 8, 2009

June 8, 2009

The economy posted stronger-than-expected data last week, reigniting fears of inflation on Wall Street. The positive-slanted economic news caused conforming mortgage rates to rise by another 1/2 percent last week. It marked the second week in a row of soaring mortgage rates and the fifth week out of six that rates have moved higher.

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Mortgage Rates Rose By More Than 1/2 Percent Wednesday

May 28, 2009

Conforming mortgage rates rose by 0.625 percent Wednesday.

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Over 24 Hours, Mortgage Rates Shoot Higher

May 22, 2009

Rates go up, rates go down. Catch them while you can

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Mortgage Lending Starts To Show Signs Of A Thaw

May 18, 2009

Getting approved for a home loan isn’t getting easier, but it doesn’t appear to be getting much more difficult, either. In its quarterly survey to member banks , the Federal Reserve asked senior bank loan officers whether “prime” residential mortgage guidelines had tightened in the last 3 months.

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For The Second Month In A Row, Foreclosures Are Concentrated In 3 States

May 13, 2009

For the second month in a row, the country’s foreclosure activity was dominated by a small number of states. As shown by the latest stats from RealtyTrac.com , more than half of the country’s foreclosure actions from April were concentrated in just 3 states: California Florida Nevada Those 3 states are home to but 19 percent of the U.S. population

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