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Latest Causes of the United States housing bubble Stories

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2009-08-06 11:58:31

Interest rates for 30-year, fixed-rate U.S. mortgages fell in the week ending Aug. 6, the Federal Home Loan Mortgage Corp. said Thursday. The 30-year, fixed-rate mortgage averaged 5.22 percent with an average 0.6 points, down from 5.25 percent in the previous week, Freddie Mac said. At 4.63 percent with an average 0.6 points, the 15-year, fixed-rate average also declined, dropping from the previous week's average of 4.69 percent. A year ago, 15-year fixed-rate mortgages averaged 6.1 percent,...

2009-06-12 06:52:41

Asian markets climbed higher Friday, following U.S. reports the jobless claims had decreased and retail sales had made gains. As a symbolic improvement, Japan's Nikkei average closed above 10,000 points for the first time since October. The Nikkei closed at 10,135.82, up 1.55 percent, while the Hang Seng index in Hong Kong climbed 0.5 percent to 18,889.68. The Kospi index in South Korea climbed 0.7 percent to 1,428.59, while the S&P/ASX in Australia rose 0.4 percent to 4,062.20. In China,...

2009-05-14 11:09:12

Interest rates for 30-year, fixed-rate U.S. mortgages increased in the week ending May 14, the Federal Home Loan Mortgage Corp. said Thursday. The 30-year, fixed-rate mortgage averaged 4.86 percent with an average 0.6 points in the week, Freddie Mac said. A week ago, 30-year, fixed-rate mortgages averaged 4.84 percent. A year ago, the average rate was 6.01 percent. At 4.52 percent with an average 0.6 points, the 15-year, fixed-rate average also rose, climbing slightly above the previous...

2009-04-01 11:56:46

The Pending U.S. Home Sales Index rose 2.1 percent in February, a hint home sales could rise in the next few months, the National Association of Realtors said. The index, based on contracts signed in the February, rose from 80.4 to 82.1, NAR said. More buyers are getting into the market to take advantage of stimulus incentives and much improved housing affordability conditions, but it will take a few months before we could see this turn up in measurable sales contract activity, NAR chief...

2009-02-26 15:24:26

Interest rates for 30-year, fixed-rate U.S. mortgages rose slightly in the week ending Feb. 26, the Federal Home Loan Mortgage Corp. said Thursday. The 30-year, fixed-rate mortgage averaged 5.07 percent with an average 0.7 points in the week, Freddie Mac said. A week ago, 30-year, fixed-rate mortgages averaged 5.04 percent. A year ago, interest rates averaged 6.24 percent. At 4.68 percent with an average 0.7 points, the 15-year, fixed-rates were unchanged from the previous week. A year ago,...

2009-02-10 11:01:00

WASHINGTON, Feb. 10 /PRNewswire-USNewswire/ -- The long and harsh downturn in the real estate industry has made several of the key indicators used to measure housing economic activity less reliable in monitoring trends in the housing sector, noted real estate economist David Lereah said in an article published in today's issue of the Reecon Advisory Report. Lereah singled out four metrics widely cited in the housing industry that are no longer as reliable as they once were for monitoring...

2009-02-05 11:08:41

Interest rates for 30-year, fixed-rate U.S. mortgages rose modestly in the week ending Feb. 5, the Federal Home Loan Mortgage Corp. said Thursday. The 30-year, fixed-rate mortgage averaged 5.25 percent with an average 0.8 points in the week, up from the previous week, when interest rates were 5.1 percent. A year ago, interest rates for 30-year fixed-rate mortgages were 5.67 percent. At 4.92 percent with an average 0.8 points, the 15-year, fixed-rate average also rose. Last week, interest...

2008-12-15 06:45:00

Economists predict the U.S. Federal Reserve Open Market Committee may cut interest rates to historic lows after a two-day meeting beginning Monday. Fed chairman Ben Bernanke said on Dec. 1 that cutting federal fund rate , now at 1 percent, was feasible. Tuesday's announcement could include a rate cut to an historic low of 0.5 percent or lower, USA Today reported Monday. The fund rate sets the rate banks charge for overnight lending to each other. It is no guarantee that banks will lower...

2008-12-04 16:14:47

The value of homes in Britain fell, on average, $146.75 every day from the first of the year through November, Halifax bank reported Thursday. Homes values have dropped $49,242 on the year to an average value of $240,147, The Daily Mail reported. In the past 12 months, home prices have dropped 16.1 percent, the sharpest annual decline in 25 years. As home prices fall, only two lenders in Britain vowed to pass the Bank of England's rate cut announced Thursday on to homeowners, the newspaper...

2008-12-04 12:13:24

Federal Reserve Chairman Ben Bernanke said the government should increase its efforts to stem the sharp rate of U.S. foreclosures. Despite good-faith efforts by both the private and public sectors, the foreclosure rate remains too high, Bernanke said Thursday in a prepared speech at the Federal Reserve System Conference on Housing and Mortgage Markets in Washington. Bernanke said 2.25 million U.S. homes could end up in foreclosure in 2008, up from an average pace of less than 1 million homes...