Friday, June 25, 2010

Real estate news update: 6-25

A daily dose of headlines for real estate agents, mortgage lenders and consumers.

Housing sales are up, but will it last?
Boston Globe:
Karl E. Case, cofounder of the S&P Case/Shiller Home Price Indices, said questions still remain because of the growing number of foreclosures and unstable economy.
Lawmakers agree on sweeping Wall Street overhaul
Bloomberg: The bill seeks to protect consumers, curb risks, boost surveillance of emerging threats to markets and give regulators more emergency powers.
Despite low mortgage rates, new home sales crash
Total Mortgage Services: The first time home buyer tax credit, pulled home sales from the fall and summer into the spring, and we are now seeing the ramifications of the credit.
REITs are a surprising bright spot in investor market
USA Today: The average real estate fund has gained 11% this year. One reason for gains: Investors may think things cant get much worse. They may have a point.
Lawmakers slam top mortgage firms on loan mods
Reuters: The four largest mortgage lenders in the United States were grilled Thursday about the limited number of home loans they have modified.
Its payback time for housing
: Unemployment is high, job security is low, and credit conditions are tight. Its hard to see a double-dip in housing prices not occurring.

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