Mortgage Foreclosure & Refinance Resource

“Sales are probably not going to rebound any time soon because the mortgage conditions continue to get tighter,” Mr. Gault said. He said that the excess supply meant that “prices have still got to come down some more.”
Home sales have begun to stabilize as sharply reduced prices lured buyers back into the market in July, [...]

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Even as housing prices drop across the country, fewer people appear close to buying a home.
The Mortgage Bankers Association reports that the volume of mortgage applications fell last week to the lowest level in nearly eight years. Additionally, the group says applications are down 61 percent from this year’s peak in February.
The decline in new [...]

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The two biggest sources of mortgages for American home buyers plan to raise their base fees to counter what they see as continuing “adverse conditions” in the real estate marketplace.
At the same time, however, Fannie Mae and Freddie Mac — which currently fund more than three-quarters of all new home loans — also plan to [...]

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