RealtyBizNews: Real Estate News & More
With the latest on mortgages, refinancing, real estate & home tips
It’s a “Twilight Zone” kind of plot twist that even Rod Sterling could not have imagined. Wall Street’s biggest names are rushing to jump into the single family rental market in a big way. They believe that there are “fat profits” to be made in the rental property business, and many of the same firms [...]
The Toronto-Dominion Bank, the second largest bank in Canada is worried Canadian house prices are overvalued by between 10% and 15%, and its chief economist thinks the government should be taking measures to slow down lending growth.
The old cliche’ is well known…”Which came first…the chicken or the egg?” And so, with all the wrangling over how to “fix” housing, the question to ask is “which came first, the job or the house?”
The Federal Reserve is no longer in a position to help America ease its way out of the housing crisis, according to a new report drafted by some of the country’s top economists at the recent US Monetary Policy Forum.
It seems that something is amiss when you compare recent media reports with the actual housing data recently provided by William C. Dudley, the President and Chief Executive Officer of the Federal Reserve Bank of New York.
The cost of owning a home is now at its lowest point for 15 years, and is often less expensive than renting. A recent survey for the Wall Street Journal found it was more expensive to rent than buy a median priced property in 12 metro areas, even when taking into account taxes and insurance. [...]
In today’s report to congress, I could not help but notice two things. First, Fed Chairman Ben Bernanke was essentially admitting that his program to solve our economic problems with more spending is not working out very well. And it was painfully obvious that some if not most of the congressmen/women on the panel had [...]
30-year fixed rate mortgage rates have rebounded, but remain at a lower level than they were last week. Zillow Inc.’s Z +0.75% real-time rate tracker showed that on Tuesday, 30-year fixed rate mortgages had a 3.86% interest rate, slightly up from Thursday’s low of 3.82% but still lower than the 3.92% they were at one week [...]
The Federal Reserve is to try a new strategy in its attempt to reduce business and consumer borrowing costs and encourage economic growth in the U.S., in spite of Republican pleas not to expand its stimulus program any further, reports the New York Times. Last Wednesday the Federal Reserve said that over the next nine [...]
More homeowners will be able to make the most of current low interest rates, after the Obama administration announced plans to expand the two-year old Home Affordable Refinance Program. Addressing a joint session in Congress last week, President Obama said that the government would do everything it could to assist “responsible homeowners” in refinancing their [...]
