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Finance, Economy & Government Issues Archive


Housing Recovery Is Real but Risks Remain

The U.S. housing recovery is real and underway. The end-of-year numbers are in for the primary housing measures. Existing home sales were up 9 percent in 2012 from 2011; new home sales were up 20 percent in 2012 from a year ...


Donovan and DeMarco Announce Extended Foreclosure Relief for Hurricane Sandy Storm Victims

U.S. Housing and Urban Development Secretary Shaun Donovan, who serves as President Obama’s Chairman of the Hurricane Sandy Rebuilding Task Force, and Federal Housing Finance Agency Acting Director Edward J. DeMarco recently announced that the Federal Housing Administration (FHA), Fannie Mae, ...


FHA Takes Additional Steps to Bolster Capital Reserves

As part of a broad effort to strengthen the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance Fund (MMI Fund), FHA Commissioner Carol Galante announced a series of changes to be issued this week that will allow the agency to better manage risk and further strengthen the health of the MMI ...


U.S. Home Prices Show Strong Growth in November

(MCT)--A leading measure of home prices in the biggest American cities posted strong year-over-year growth in November. ...


Pending Home Sales Down in December but Remain on Uptrend

Pending home sales declined in December but have stayed above year-ago levels for 20 consecutive months, according to the National Association of REALTORS®. ...


Harvard Study Reports on Recent Trends in Home Equity and Housing Stock

Spending on home improvements and repairs totaled $275 billion in 2011, down 4 percent from 2009 levels and some 16 percent below the market peak in 2007. Loss of home equity with the onset of the housing crash contributed to the decline in home repairs, according to a new study ...


FHFA House Price Index Up 0.6 Percent in November

U.S. house prices rose 0.6 percent on a seasonally adjusted basis from October to November, according to the Federal Housing Finance Agency’s monthly House Price Index (HPI). The previously reported 0.5 percent increase in October was revised upward to a 0.6 percent increase. For the 12 months ending in November, ...


Homeowners Take a Fresh Look at Remodeling

(MCT)—If you’ve put off redoing that kitchen or adding a deck while waiting for the economy to perk up, welcome to the club. ...


2013: Transition to “Normal”?

The trend of gradual but below-potential economic growth seen in 2012 is expected to carry over through 2013 and into 2014. This modest growth path combined with the real GDP growth rate during the recovery from 2009 to this point of ...


2012 Mass. Home Sales Highest in Six Years

Regional Spotlight—Single-family home sales in Massachusetts rose 18 percent in 2012, marking 12 consecutive months of year-over-year sales gains and the best year on record since 2006, according to new data from The Warren Group, publisher of Banker & Tradesman. ...


Existing Home Sales Hit 5-year High in 2012

(MCT)—Sales of existing homes ticked down in December from the month before, while the total for 2012 hit the highest level in five years, according to data released Tuesday by the National Association of REALTORS®. ...


Housing Starts End 2012 on a High Note

The year 2012 was a promising one for housing. With consistent improvements in housing construction and prices, home building is once again contributing to economic growth. And the December housing starts report capped off the year with confirmation of ...


Century 21 Real Estate Releases Details of Its Big Game Survey, Home is Where Most Prefer to Watch

Century 21 Real Estate LLC, the franchisor of one of the world’s largest residential real estate sales organizations, has announced the results of its Big Game Survey. CENTURY 21®, an advertiser in this year’s Super Bowl, recently surveyed Americans about their game-watching and party plans during this year’s game. The ...


Will the Recovery Continue? A Look at Housing in 2013

2012 was the year that the U.S. housing market began its long-awaited recovery. Will the recovery continue in 2013, or will we see another setback? And what are the implications for real estate professionals—especially those who specialize in distressed ...


Mortgage Rates Mostly Flat

Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing mortgage rates largely unchanged from the previous week helping to keep homebuyer affordability high, refinancing strong and should continue to aid the ongoing housing recovery. ...