http://memphisminute.com The Pulse of the Memphis Real Estate and Mortage Market Wed, 17 Mar 2010 00:57:26 +0000 http://backend.userland.com/rss092 en Link to source MEMPHIS, TN – Shelby county homeowners facing foreclosure might get a little relief. Mediators may help them negotiate with banks. That's the idea behind a bill pending in the Tennessee legislature. "A professionally trained mediator would mediate between the lending institution and the homeowner and try to work out ... http://memphisminute.com/shelby-county-homeowners-may-get-mortgage-help Link to source The US housing market will face another retreat while mortgage-backed securities and Treasurys are likely to go through a "material" correction, Meredith Whitney, CEO of Meredith Whitney Advisory Group, told CNBC Tuesday. "The housing market surely will double dip," Whitney told "Worldwide Exchange." Government programs to support housing have been ... http://memphisminute.com/housing-market-surely-to-double-dip-whitney Link to source Standard 30-year fixed loan is now 4.95 percent, down from 4.97 percent. Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday, weeks before a government program that has been keeping rates low is scheduled to expire. The average rate on a ... http://memphisminute.com/mortgage-rates-hold-below-the-5-percent-mark 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