The Commerce Department reported this week that housing starts fell 22.5% in February to 479,000 units, from an upwardly revised January figure of 618,000 units. It was the biggest decline in 27 years and finished just above a record low set in April 2009. Building permits — a hint of future construction demand — fell […]
CNNMoney recently reported that the number of foreclosures in February fell 14%, compared to January and 27% compared to February 2010. According to RealtyTrac, that is the largest year-to-year drop the company has ever recorded. While some see this as a sign of recovery in the housing market, the company says part of the decline […]
After weeks of seeing mortgage rates take off since the government stopped buying mortgage-backed securities last month, mortgage rates have fallen for the first time this week. Reuters reported today that interest rates on 30-year fixed-rate mortgages averaged 5.07% for the week ending April 15, down from 5.21% the week before. Last week’s rate was […]