NEW YORK (AP) — Credit rating agency Moody’s Investors Service on Thursday said it put Fannie Mae’s “B+” bank financial strength rating on review for possible downgrade.
Fannie (FNM), the largest buyer and backer of U.S. home loans, said Wednesday it lost nearly $3.6 billion in the fourth quarter of 2007, and $2.1 billion for the […]
Entries from February 2008
Moody’s eyes Fannie Mae downgrade
February 28th, 2008 · Permalink
Housing expert: Fix job market (Connecticut Post)
February 28th, 2008 · Permalink
Jobs. Get those back and the housing market will take care of itself.
That’s what Phyllis Esposito-Doyen, a 25-year veteran real estate professional, said Wednesday after the U.S. Department of Commerce published a disheartening report on the fortunes in the real estate market.
The report said the median national sale price for a new home fell from […]
Toll Brothers swings to 1Q loss
February 28th, 2008 · Permalink
PHILADELPHIA - Luxury-home builder Toll Brothers Inc. said Wednesday it swung to a loss in the first quarter as write-downs on properties it could no longer sell at a profit more than doubled and its sales tumbled 23 percent.
Chief Executive Robert Toll said in a conference call with analysts that the selling season that […]
Insuring your home against disaster
February 27th, 2008 · Permalink
If last fall’s devastating California wildfires weren’t enough of a wake-up call, consider this: Nearly 60% of homes nationwide don’t carry enough insurance coverage to be fully rebuilt. On average those homes are underinsured by 21%. To give yourself a chance of being made whole, follow these steps before and after disaster strikes.
Article Source
New Worries on Inflation and Homes
February 27th, 2008 · Permalink
Houses are getting cheaper by the month. Everything else is becoming more expensive.
Several economic reports released on Tuesday provided fresh evidence that the economic pain of a prolonged slump in housing is being compounded by the rising cost of oil, food, clothes and other goods. Not surprisingly, a measure of consumer confidence fell to its […]
What You Get for … $500,000
February 27th, 2008 · Permalink
A four-bedroom farmhouse in South Egremont, Mass.; a two-bedroom condo in Vail, Colo.; and a one-bedroom apartment in San Francisco.
Mortgage applications slide again
February 27th, 2008 · Permalink
WASHINGTON (AP) — Mortgage application volume tumbled 19.2% during the week ended Feb. 22, according to the Mortgage Bankers Association’s weekly application survey.
The MBA’s application index fell to 665.1 from 822.8 the previous week. It was the third straight week application volume fell. During that time, volume has dropped 39% as interest rates have risen […]
Insuring your home against disaster
February 27th, 2008 · Permalink
If last fall’s devastating California wildfires weren’t enough of a wake-up call, consider this: Nearly 60% of homes nationwide don’t carry enough insurance coverage to be fully rebuilt. On average those homes are underinsured by 21%. To give yourself a chance of being made whole, follow these steps before and after disaster strikes.
Article Source
