Latest News in Mortgages and Home Loans- Aug 16, 2010

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The wasted 4.44% mortgage rate

It appears even the bright spots of this tired economy are still working against heavily indebted homeowners. Mortgage rates have hit new lows nearly every week, but many borrowers are still unable to take advantage of them.

30-year mortgage rate lowest since 1971

Mortgage rates continued to decline this week, plunging to the lowest level in decades, according to surveys from Freddie Mac and Bankrate.

Foreclosures rise in July

The latest foreclosure numbers carried a mixed message: They’re up 3.6% from the month before but down 9.7% from 12 months earlier.

Home prices slowly creeping up

The weak economy and continued high unemployment have kept housing markets cool. As a result, the median price of a single-family home crept up just 1.5% to 176,900 in the three months ended June 30, according to a report released Wednesday by the National Association of Realtors.

America’s most overvalued cities

Don’t say we didn’t warn you.

Foreclosures: How bad is your state?

$3 billion more for jobless homeowners

The Obama administration is making $3 billion in additional funds available to help troubled homeowners avoid foreclosure.

20% of mortgages are underwater

More than 20% of the nation’s mortgage borrowers owe more than their homes are worth.

Fannie Mae narrows loss, but asks for more aid

Fannie Mae says that its financial condition has vastly improved over previous quarters, but the mortgage finance company still requested more government assistance.

3 cheap ways to make your old kitchen feel new

Shelved plans for that $50,000 kitchen remodeling until the economic recovery actually starts to feel like a recovery?

Vulture investors: Back and making a bundle

These are the glory days of the residential real estate investor. Low prices, rock-bottom interest rates and stable rental markets have created huge buying opportunities.

Oil spill could cost Gulf homes $3B

The BP oil spill in the Gulf could cost homeowners $68 million in lost property value over the next year — and up to $3 billion in the next five years, according to a report released Monday.

Condos for less than the cost of a Corolla

The housing bust has made owning a home a lot more affordable — but in some places, prices are extraordinary; you can buy a nice condo for less than the cost of a new family car.

Bulls tiptoe into homebuilder stocks

It takes a lot of courage to be a bull on homebuilder stocks these days. They exist, for sure. And they aren’t on mind-bending drugs. In fact, they see the world much as the housing stock bears do. You won’t find any uplifting messages in their reports on the economy and housing.

Foreclosures climb in 75% of metro areas

Foreclosure filings climbed in 75% of the nation’s metro areas during the first half of 2010, according to a report issued Thursday.

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