Latest News in Mortgages and Home Loans- Aug 25, 2010

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Best moves for home buyers and sellers

Plenty of forces, from overly cautious lenders to inaccurate appraisals, are wrecking real estate deals right now. But one of the biggest roadblocks to getting a house sold these days is the disconnect between buyers and sellers.

Housing’s a wreck. Builders rally. Huh?

Stop me if you’ve heard this before. The housing market is still in shambles.

New home sales drop 12.4%

New home sales unexpectedly fell in July to the lowest level on record as the housing market continued to suffer from the end of the homebuyer tax credit boost.

Toll Brothers: First profit in 3 years

Homebuilder Toll Brothers made a profit last quarter — its first in three years. And it largely has Uncle Sam’s tax credits to thank for it.

America’s most overvalued cities

Don’t say we didn’t warn you.

Foreclosures: How bad is your state?

The latest real estate rip-off?

Would you be willing to pay the original builder a fee when you resell your home? That’s an obligation some developers are trying to slap on homeowners in their communities.

Plunging home sales could sink recovery

With home sales plunging to their lowest level in 15 years, economists warn that a double-dip in housing prices is just around the corner, threatening to further slow the overall recovery.

10-year yield at 19-month low

Treasury yields continued to fall Tuesday, with the yield on the benchmark 10-year note holding near a 19-month low, as a spate of dour economic news has driven investors into safer assets, like government-backed debt.

Foreclosure program losing its punch

The president’s signature foreclosure rescue plan is losing its punch, according to a federal report released Friday.

5 most affordable cities to buy a house

These are the five most affordable major metro areas in the nation for homebuyers and five markets where home prices are least affordable.

Refinancing applications at 15-month high

Applications for mortgage refinancing hit a 15-month high last week as interest rates remained near historic lows, a mortgage bankers’ group said Wednesday.

New home construction rises, but outlook weakens

New home construction ticked higher in July, but indications of future building were weak, the government said Tuesday.

New York’s No. 1 in home closing costs

If you’re getting a mortgage in New York, bring a fat checkbook to the closing table: Closing costs there are the highest in the nation, according to a survey by mortgage website Bankrate.com.

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.

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