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Obama To Cut FHA Mortgage Insurance Premiums To Boost Homeownership

Author: Clea Benson and Jonathan Allen,

In an effort to expand homeownership among lower-income buyers, President Barack Obama plans to cut mortgage-insurance premiums charged by a government agency. The annual fees the Federal Housing Administration charges to guarantee mortgages will be cut by 0.5 percentage point, to 0.85 percent of the loan balance, Julian Castro, secretary of the Department of Housing Read More

July’s Southland Home Prices Stay Same As June’s, But Sales Soar

Author: Andrew Khouri, Los Angeles Times

Southern California home prices remained flat in July from a month earlier as more houses went on sale and interest rates rose. The median sales price in the six-county region was $385,000 last month, unchanged from June, DataQuick said Wednesday. Still, the median is 25.8% higher than July 2012. While the price increases took a Read More

Low Inventory Behind June’s Dramatic Rise In Southland Home Prices

Author: Alejandro Lazo, Los Angeles Times

Underneath the spectacular home price gains in the Southland this year is a story of supply and demand. On Tuesday, the real estate research firm DataQuick reported a 4.6% increase month-over-month in the median home price and a whopping 28.3% jump from the same month last year to hit $385,000. That was the highest year-over-year Read More

Home Price Surge Will Accelerate Next Month

Author: MND NewsWire

There is a remarkable degree of agreement among prevalent purveyors of Home Price Indices that prices this spring have risen higher and faster than in any period since early 2006. Joining the chorus today, CoreLogic said today that its Home Price Index (HPI) rose 12.2 percent in May compared to May 2012, marking the biggest Read More

This Housing Upturn Looks Like the Real Thing

Author: Michael Sivy, Time Magazine

Ever since the recovery began in 2009, a weak housing market has held back the U.S. economy. The first rebound in home prices was lackluster and after only a year was followed by another dip. But the recent upturn in home prices looks like the real thing. One clear sign of a turning point: In Read More

Down Payment Rules Are At Heart Of Mortgage Debate

Author: Peter Eavis, The New York Times

The housing market is showing signs of life, as home prices rise and mortgage-backed bonds return. But the revival may not gain full steam until regulators sort out one of the thorniest problems: the appropriate size of a down payment on a house. After the housing collapse, initial reform proposals emphasized the need for buyers Read More

Don’t Be Fooled By These 3 Real Estate Myths

Author: Zillow

As the real estate market significantly rebounds, some buyers and sellers are dipping their toes in the waters for the first time. Inevitably, they come into the market with assumptions about how it works. Their assumptions may come from TV reality shows or watching their parents’ house-hunting experiences. Maybe they’ve learned about real estate from Read More

Growth Predicted In Home Renovations

Author: Lisa Prevost, The New York Times

Homeowners who have been holding off on home improvements, be it a new kitchen or replacement siding, are more likely to call in the contractors in the year ahead A report from Harvard University’s Joint Center for Housing Studies predicts accelerating, double-digit growth in home improvement spending through at least the third quarter of 2013. Read More

Five Reasons Home Prices Have Been Rising

Author: Nick Timiraos, The Wall Street Journal

Home prices rose by 0.1% in September from the prior month and by 3.6% from one year ago, the largest such gain in six years, according to a report released Monday by Lender Processing Services. Compared with one year ago, prices are up by 17.7% in Phoenix, the largest gain among the nation’s 40 largest Read More

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