http://memphisminute.com The Pulse of the Memphis Real Estate and Mortage Market Fri, 26 Feb 2010 02:32:46 +0000 http://backend.userland.com/rss092 en Link to source WASHINGTON – Sales of new homes plunged to a record low in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades. The Commerce Department reported Wednesday that new home sales dropped 11.2 percent last month to a seasonally ... http://memphisminute.com/new-home-sales-drop-11-percent-in-january-new-low Link to source WASHINGTON — Housing construction posted a better-than-expected increase in January which pushed activity to the highest level in six months. The solid gain raised hopes that the construction industry is beginning to mount a sustained rebound from its worst slump in decades. The Commerce Department said Wednesday that construction ... http://memphisminute.com/housing-construction-up-2-8-percent-in-janury Link to source The percentage of borrowers at least 60 days past due on their mortgage increased for the 12th straight quarter, hitting 6.89 percent by the end of 2009, according to new data released by TransUnion Tuesday. That’s an all-time high in the credit bureau’s study, dating back to 1992. This ... http://memphisminute.com/mortgage-delinquencies-up-50-over-last-year-transunion Link to source Moody’s Investors Service is forecasting another 8 percent decline in home prices over the course of 2010 before a bottom in residential property values is reached, largely because of the “underwhelming” success of the administration’s Home Affordable Modification Program (HAMP). When all is said and done, the ratings agency ... http://memphisminute.com/moodys-expects-hamp-missteps-to-prolong-home-price-declines Link to source NEW YORK, Feb 10 (Reuters) - Freddie Mac (FRE.N)(FRE.P) and Fannie Mae (FNM.N)(FNM.P), the largest buyers of U.S. home loans, said on Wednesday they were ramping up purchases of delinquent loans from mortgage securities pools to bolster their financial positions. Both companies, seized by the government in September ... http://memphisminute.com/freddie-fannie-escalate-delinquent-loan-buyouts Link to source Atlanta-based Regent Partners LLC and TriGate Capital have joined forces to form a $400 million fund to invest in commercial real estate. It’s just one more sign that the downturn in the sector has created a buyer’s market of incredible bargains. According to the firms, the Regent-TriGate Property Fund ... http://memphisminute.com/investment-firms-launch-400m-fund-to-buy-distressed-commercial-real-estate Link to source WASHINGTON – Sales of previously occupied homes took the largest monthly drop in more than 40 years last month, sinking more dramatically than expected after lawmakers gave buyers additional time to use a tax credit. The report reflects a sharp drop in demand after buyers stopped scrambling to qualify ... http://memphisminute.com/december-home-sales-down-nearly-17-percent Link to source at HousingWire.com There are more positive signals and developments for housing and related industries than at any time in the past three years, Fitch Ratings analysts wrote in a quarterly outlook report, but despite having fewer competitors, public builders will continue to be challenged and need to maintain ... http://memphisminute.com/new-home-builds-strengthen-though-sector-remains-weak-fitch Link to source WASHINGTON - In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, HUD Secretary Shaun Donovan today announced a temporary policy that will expand access to FHA mortgage insurance and allow for the quick resale of foreclosed properties. The announcement is ... http://memphisminute.com/hud-takes-action-to-speed-resale-of-foreclosed-properties-to-new-owners Link to source After a dour year where housing prices fell more than 12% nationwide, will 2010 bring sunnier tidings? The short answer: only a tad in a select few places but overall not really. Yes, there have been pieces of good news over the past few months that have indicated a ... http://memphisminute.com/5-markets-expected-to-fare-best-in-2010