It really has to do with lowering buyer out of pocket expenses by minimizing the amount of prepaid interest a buyer pays on the mortgage at closing.
Interest on a mortgage starts from the date the contract closes, but the majority of loans are due on the first day of the month. So when the loan […]

It’s been five years since Hurricane Katrina came roaring into the Gulf Coast, dramatically changing New Orleans and the lives of those who called it home. While there is very little homeowners can do when facing a natural disaster of that magnitude, the anniversary - and the current threat from Hurricane Danielle - is an […]

Commercial real estate sectors, hurt by weak job growth, are offering incentives in many areas that are conducive to business expansion, according to the National Association of Realtors®.
Lawrence Yun, NAR chief economist, said fallout from the recession continues to impact commercial real estate.  “Vacancy rates are beginning to level off in some sectors, but rent […]

Existing-home sales were sharply lower in July following expiration of the home buyer tax credit but home prices continued to gain, according to the National Association of Realtors®.
Existing-home sales1, which are completed transactions that include single-family, townhomes, condominiums and co-ops, dropped 27.2 percent to a seasonally adjusted annual rate of 3.83 million units in July […]

After months of the gloom-and-doom reports about the housing market, recent months have finally started to show evidence of some positive movement in the sector. But there are still plenty of economists forecasting an endless downturn for the weakened housing and mortgage markets.
Price Recovery Not Until 2011?
Chief economist for the government-backed mortgage giant Freddie spokesman […]