Americas Insurance Company is making the grade, earning an A from Demotech, Inc. The company recently announced its decision to award Americas Insurance with the prime financial stability rating.
Read More »Mortgage Rates Tumble on Disappointing Jobs Report
Freddie Mac's latest Primary Mortgage Market Survey showed average fixed mortgage rates finding yet another record low. The 30-year fixed-rate mortgage averaged 3.56 percent (0.7 point) this week, down from 3.62 percent the previous week. At the same time last year, the 30-year loan averaged 4.51 percent. This week marks the fourth month that the 30-year average has stayed below 4 percent. The 15-year fixed-rate mortgage also fell, averaging 2.86 percent (0.7 point), a drop from 2.89 percent last week. A year ago, the 15-year fixed averaged 3.65 percent.
Read More »HUD Launches Spanish Website for Making Home Affordable
HUD Secretary Shaun Donovan announced Monday a new Spanish-language website for the Making Home Affordable Program, which seeks to stabilize the U.S. housing market by helping homeowners get mortgage relief and avoid foreclosure.
Read More »Initial Jobless Claims Reach Four-Year Low
First-time claims for unemployment insurance fell 26,000 to 350,00 in early July, reaching the lowest level since March 2008, the Labor Department reported Thursday. The prior week's total was revised up to 376,000 from the originally reported 374,000. Economists surveyed by Bloomberg had expected a modest decline to 375,000 initial claims. Continuing claims ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô reported on a one-week lag ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô fell 14,000 to 3,304,000 from the prior week's 3,318,000, revised from the originally reported 3,306,000.
Read More »Americans ‘Confident’ About Housing Recovery: Survey
Despite fears of an economic slowdown, more Americans feel confident about the housing recovery, with 72 percent of survey respondents recently affirming their belief that the real estate market will recover over the next two years. Releasing their quarterly survey, Irvine, California-based Brookfield Real Estate and Relocation Affiliates, Inc., also found that 69 percent of respondents believe that real estate still makes for a sound investment despite market volatility, an increase by 6 percentage points from the first quarter. More Americans also seem to feel more favorably about the housing market.
Read More »Credit Agency Files Antitrust Suit Against CoreLogic, Experian
Florida-based CreditBureau Services filed a suit Tuesday against Experian, the national consumer credit data repository, and CoreLogic, Inc., the nation's largest credit report reseller, in the U.S. District Court for the Southern District of Florida for alleged violations of the antitrust laws. The suit claims that Experian and CoreLogic sought to deny smaller credit agencies access to Experian's mortgage credit information for "tri-merged" mortgage credit reports. Banks and investors require tri-merged reports to extend credit for home mortgages.
Read More »Mortgage Applications Slide as Interest Rates Fall
Mortgage applications fell 2.1 percent from the week before, according to the Mortgage Bankers Association. The trade group found declines for applications amid new historic lows for mortgage rates. According to the MBA, average contract interest rates for home loans broke new records across the board. New lows for interest rates included the 30-year fixed-rate mortgage with conforming balances (3.79 percent), the 30-year loan with jumbo loan balances (4.05 percent), and the 15-year loan (3.15 percent). Five-year and one-year adjustable-rate mortgages likewise fell to a new low of 2.71 percent.
Read More »Don Imus Lists Waterfront Estate in Connecticut
Radio icon Don Imus and his wife, Dierdre, have listed their Connecticut property for $19.9 million. RealEstalker reports that Imus has taken the waterfront estate on and off the market multiple times, dating from 2009, and when it was originally put up for sale, the Greco-Georgian property carried a much higher price tag of $30 million.
Read More »Best Markets for Buyers and Sellers: Zillow
San Francisco, San Jose, and Las Vegas metro areas were named as the top markets for sellers, while Chicago, Milwaukee, and Cleveland were categorized as markets where buyers have more power, according to a report released from Zillow Tuesday. In the top seller├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós markets, price cuts are uncommon and homes often sell for at or near their asking price. Sellers' markets were not necessarily ones where home values are rising, but places sellers are more likely to sell their home for close to asking price and where listings spend less time on the market.
Read More »Famed Mexico City Equestrian Estate Hits the Market
In Mexico City, an architectural masterpiece has hit the market. Equestrian estate Cuadra San Cristobal, which was made famous by its award-winning designer, Luis Barragan, was recently listed for $12.3 million.
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