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Aug 7 2012

Freddie Mac Posts 2nd Quarter Profit, Will Not Need Federal Aid...

WASHINGTON – Seized housing finance giant Freddie Mac on Tuesday reported a $3 billion profit for the second quarter of the year and said it would not request additional federal aid for the period to stay afloat.

The improving housing market meant Freddie Mac set aside $1.7 billion less than it did in the first three months of the year for loan losses, which improved the government-owned company’s bottom line. Freddie Mac posted a $577 million profit in the first quarter and needed $19 million from the government.

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315 comments - Posted by Suzanne Baker at 1:05 PM - Categories:

Aug 4 2012

Simplifying Loan Documents

THE Consumer Financial Protection Bureau, the federal agency created by Congress after the financial crisis, says mortgage documents should be written in simple, straightforward language, and so after months of researching and testing, it is proposing that lenders provide borrowers with two new forms. One will come at the start of the lending process, the other just before closing.

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58 comments - Posted by Suzanne Baker at 7:36 PM - Categories:

Jun 27 2012

Pending Home Sales in May Soar to Highest Level in Two Years...

Prospective home-buyers signed the most contracts to buy existing homes last month in more than two years, according to new data from the National Assn. of Realtors.

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63 comments - Posted by Suzanne Baker at 9:49 PM - Categories:

Jun 15 2012

Calif. Hones Sell at Fastest Pace in Three Years...

California’s housing market moved at its fastest pace — and biggest year-over-year gain — in three years in May, according to the California Association of Realtors.

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65 comments - Posted by Suzanne Baker at 12:44 PM - Categories:

Jun 10 2012

Discussion: Is the Housing Market Bottoming Out?

Has the housing market hit bottom? It depends on where you are – and whom you ask. Developments posed the question to a handful of economists, real-estate agents and industry watchers. Here are their thoughts:

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457 comments - Posted by Suzanne Baker at 11:45 AM - Categories: Real Estate News

Jun 7 2012

Mortgage Rates Sink to New Record Low...

30-year mortgage rates have fallen to an all-time low, says Freddie Mac.

NEW YORK (CNNMoney) -- Mortgage rates have fallen to a new record low, according to Freddie Mac, and the stagnant economy is to blame.

The 30-year fixed-rate mortgage dropped to an average of 3.67% in the week ended June 7, Freddie Mac said Thursday.

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38 comments - Posted by Suzanne Baker at 4:22 PM - Categories:

Jun 1 2012

Home Ownership Still Holds High Emotional Value...

Despite the economic downturn, a study conducted by Coldwell Banker and psychotherapist Dr. Robi Ludwig found that even though people’s feelings about homeownership have changed, owning a home is still very much a goal for many Americans.

Coldwell Banker conducted the online survey through Harris Interactive and polled more than 2,100 adults aged 18 and older. One of the findings stated while 79 percent of U.S. adults indicated the recession has caused society to rethink the concept of homeownership, 91 percent agreed owning a home is part of the American Dream.

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65 comments - Posted by Suzanne Baker at 4:41 PM - Categories:

     
   
 
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