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The latest report on new residential construction was released by the Commerce Department yesterday and it that housing starts and permits dropped 4.5% bringing new construction to it’s lowest level since 1959. Building permits, an indicator of future construction, also fell sharply, by 12%, to a record low of 708,000 annualized units. Permits for single-family homes, considered by [...]

U.S. mortgage applications rise 2.8%
By PBN Staff 
WASHINGTON – The number of mortgage applications filed nationwide last week rebounded from the 2008 low of the week before, as rates dipped slightly, the Mortgage Bankers Association said today in its weekly report.
The trade group’s seasonally adjusted Market Composite Index – a measure of overall mortgage loan application volume – rose [...]

Sweeping legislation offers some relief for home, mortgage markets
Aims to stem tide of foreclosures
 
Thursday, July 31, 2008
By Patricia Sabatini, Pittsburgh Post-Gazette
Post-Gazette
The housing bill signed into law by President Bush yesterday aims to prop up the hobbled home and mortgage markets and stanch a flood of foreclosures.
But provisions targeting consumers aren’t just for people on the cusp of losing [...]

Home Trust to offer traditional mortgages
Alternative lender believes competing with banks will lower risk, allow it to pick up more business
 
August 6, 2008
Alternative lender Home Trust Co. is launching a line of traditional mortgage products that will compete directly with those offered by the banks.
The Toronto-based lender hasn’t been pushed out of lending to riskier [...]

Special Report Mortgage Meltdown
Home buyers may find big savings in locking in mortgage interest rates.
 
By Les Christie, CNNMoney.com staff writer
August 4, 2008: 4:21 AM EDT  
NEW YORK (CNNMoney.com) — With mortgage interest rates on the rise, home buyers can save considerable cash by locking in a reasonable rate deals when they find one.
During the housing boom, interest rates were extremely low - [...]

Dallas real estate market is nation’s most stable - Says Joan Severson Plano TX Realtor
Dallas, Texas (WiredPRNews.com - Press Release) – The sluggish economy, weakening dollar and soaring oil prices have taken their toll on American in every aspect of their lives. One of the most notable markets that the economy has severely bruised is the real [...]

40-year Home Loan Soaring in Popularity
Lower monthly payments trigger desire for longer loans
With little improvement expected next year in housing affordability, mortgage bankers are predicting a surge in 40-year mortgages, which are becoming increasingly popular because of their lower monthly payments.
The California Association of Mortgage Brokers, in an annual forecast released this week, also expects [...]

Have you ever wondered if PMI (private mortgage insurance) was a better deal than a ‘piggyback mortgage’?  The easy answer, assuming interest rates do not go up, is that a piggyback mortgage is the better deal (not by much, but enough to justify the extra hassle).  If rates go higher, or Congress allows tax deductions [...]