Foreclosures in February were up 6 percent over February of 2009 but that is the lowest year over year increase since January 2006.
This is good news but there are a couple of cautions. One, some properties that may have been foreclosed were not because the owners are negotiating new mortgage terms. And two, there is still a large number of owners who are underwater.
You can read more in this
article from REALTOR.org.
Don Grafues
Resource: REALTOR.org
Goldman Sachs
predicts mortgage rates will stay low, partially due to low demand.
Don Grafues
Resource: REALTOR.org
Barclays Capital
predicts that home prices will not fall much more with prices then remaining virtually flat for a few years.
Don Grafues
Resource: REALTOR.org
I do not know Jim and Carol. They are traveling around Cochise County taking photographs and writing about what they see.
You can see more of Cochise County by following their blog “Jim and Carol’s Travels.”
Don Grafues
Mortgage rates are at a low not seen for many years. Yet many of us are unable to capitalize on the rates by refinancing.
According to
The Wall Street Journal approximately 37% of borrowers with 30 year fixed loans have rates 6 percent or higher.
The obstacles to refinancing are significantly lower home values, lower wages and tighter (self imposed) lending requirements. As the article states, the people who can refinance are the ones who need it the least.
Don Grafues
Resource: The Wall Street Journal
