It seemed like a race to the bottom this year: Along with continued declines in property values, every season seemed to see another record low in interest rates -- though fewer-than-expected buyers were inclined to take advantage. Also on the way down or stuck in the cellar: the number of Americans who expected to ... Continue Reading »

NEW YORK -- If the U.S. economy does not suffer more setbacks, the rate of mortgage holders behind on their payments should decline significantly by the end of next year, according to credit reporting agency TransUnion. Mortgage delinquency rates -- the ratio of borrowers 60 or more days behind on their payments -- will ... Continue Reading »

Is it possible that the housing crisis is really just a problem caused by our state of mind, not the state of the economy? Is the thing stopping people from buying houses nothing more than their perceptions? Apparently, to some extent, yes. We are having what, if economists talked like this, could be described as an ... Continue Reading »

Think the high-end of the market hasn't been felled by the economic downturn? Guess again. Here's a lovely four-bedroom contemporary home in Malibu, Calif., that is now being offered as a short sale with a recent price drop of $1 million. Ouch. The 5,000-square-foot home is now listed at $2.85 million, subject to the ... Continue Reading »

WASHINGTON -- Congressional bargainers have agreed to increase the size of mortgages insured by the Federal Housing Administration in a compromise being hailed by the housing industry but criticized by conservatives. Under the deal by House and Senate negotiators, the FHA would be able to insure mortgages worth up to ... Continue Reading »

Discussion of the housing crisis took up a significant chunk of Wednesday's GOP primary debate, with candidates expressing their views on the sluggish market and how they aim to fix it. Until Wednesday, housing had been something of a ghost issue this primary season. But with 4 million homeowners delinquent on their ... Continue Reading »

WASHINGTON -- Home prices dropped in nearly three quarters of U.S. cities over the summer, dragged down by a decline in buyer interest and a high number of foreclosures. The National Association of Realtors said Wednesday that the median price for previously occupied homes fell in the July-September quarter in 111 out of ... Continue Reading »

WASHINGTON -- The average rate on the 30-year fixed mortgage fell to 4 percent this week, nearly matching the all-time low hit just one month ago. Freddie Mac said Thursday that the rate on the 30-year loan dropped from 4.10 percent last week. Four weeks ago, it dropped to 3.94 percent -- the lowest rate ever, according ... Continue Reading »

WASHINGTON -- Government-controlled mortgage giant Freddie Mac has requested $6 billion in additional aid after posting a wider loss in the third quarter. Freddie Mac said Thursday that it lost $6 billion, or $1.86 per share, in the July-September quarter. That compares with a loss of $4.1 billion, or $1.25 a share, in ... Continue Reading »

This may fall under the category of "too much of a good thing," but there is growing sentiment that the historically low interest rates on mortgages are actually fueling the stagnation of the housing market. By keeping rates low, the hope was that more people would be motivated to buy homes. And when that didn't happen, ... Continue Reading »

Pearl and Bud Crispell hit the road in their RV the day after they retired in 1976. And for decades, that's where they stayed, living in their 40-foot motor home and traversing the country at will. But, as is the eventual story of all road warriors, the day came when they hit the proverbial dead end. Unable to manage ... Continue Reading »

Don't cry for him Argentina, for the truth is he never visited you anyway. Gazillionaire Larry Ellison has listed his Woodside, Calif., property at $19 million, which is a few million less than he reportedly paid in 2005. Sorry, we're still not crying here; Forbes puts his wealth at about $33 billion, so this is chump ... Continue Reading »

WASHINGTON -- Sales of new homes rose in September after four straight monthly declines, largely because builders cut their prices in the face of depressed demand. Analysts say the modest increase on the back of reduced prices suggests the struggling housing market is years away from a turnaround. The Commerce ... Continue Reading »

Let's hold off blaring the triumphant trumpets just yet for President Obama's plan to allow holders of underwater loans to refinance at a lower rate through revisions in the Home Affordable Refinance Program. What this change does is amend the loan-to-value ratio in a refinance. By removing the cap on how upside-down you ... Continue Reading »

WASHINGTON -- Seeking to circumvent congressional opposition, President Barack Obama will promote a series of executive branch steps aimed at jumpstarting the economy this week, beginning with new rules to make it easier for homeowners to refinance their mortgages. An administration official said the housing ... Continue Reading »