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Mortgage Industry News2008-05-23
Existing home sales were 17.5% below April 2007 and median sales price declined 8% over the past year, the second largest year-over-year decline. 2008-05-16
New home construction starts increased by a strong 8.2% in April and new building permits permit applications gained 4.9% according to the U.S. Department of Commerce. 2008-05-09
The bill would allow the FHA insure up to $300 billion in loans if lenders agree to reduce the mortgage principal to no more than 85% of a home's appraised value. 2008-05-01
The US Federal Reserve cut its benchmark rate by a quarter point to 2%, the seventh straight interest rate cut. Many analysts believe that this may be as low as the interest rate is likely to go. |
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