Mortgage applications soared 9.2 percent last week, as more Americans sought to take advantage of record low mortgage rates, according to the Mortgage Bankers Association’s weekly report.
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For the third consecutive month, foreclosure filings dropped, sinking to their lowest level since July 2007, according to RealtyTrac’s April report on nationwide foreclosure activity.
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The first quarter of 2012 was the best first quarter for real estate in five years, and pending contracts suggest that the second quarter of 2012 will be the best second quarter in five years, NAR Chief Economist Lawrence Yun said this morning at the Residential Economic Update during the NAR Midyear Legislative Meetings & Trade Expo.
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When clients must move before their house is sold and they ask you to take care of their property in their absence, it’s tempting to say yes. After all, you want to remain on good terms with them and get the future sale.
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As the funds from a $25 billion nationwide settlement over foreclosure abuses are distributed to individual states, money set aside specifically to help distressed home owners is instead being rerouted into depleted state coffers.
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More than 13,000 REALTORS® attended the Rally to Protect the American Dream this morning in the shadow of the Washington Monument on the National Mall in Washington, D.C. Additionally, thousands more participated in the virtual counterpart to the rally in order to send a clear message to legislators and policymakers: Home ownership is critical to the United States economy and needs to be fostered and protected.
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