We saw consumer confidence and the stock market both sink in October, and this led to a predictable outcome, home sales sliding in November. According to the National Association of Realtors, November home sales fell 8.6% from October on a seasonally adjusted basis to a 4.49 million annualized rate. For much of the […]
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A long-delayed update to the leading credit scoring formula is rolling out in 2009, offering a few advantages to consumers and some serious new risks.
FICO 08, the latest version of the FICO scoring model, was initially supposed to be introduced in the fall but was delayed by lawsuits between its creator, Fair Isaac, and the […]
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It seems like it has been this way for the last couple of years. Holiday travel gets all busted up. The Pacific Northwest got hit hard with snow and travelers are either stuck there, or not able to get there. Airports, bus and train stations are all but shut down. And […]
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The Federal Reserve is entering into a new era this week by lowering its benchmark interest rate, the federal funds rate, to virtually zero. It is declaring that they will fight the recession through an array of lending programs, thereby pumping out vast amounts of money to businesses and consumers. Though important as […]
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With the growing popularity of lofts, flats and condos and many homeowners choosing to downsize, spaces are becoming smaller but that doesn’t mean that people have less stuff. This leaves many folks searching for creative and inexpensive storage solutions for the home.
Not only does adequate storage eliminate clutter, it also helps keep you more […]
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November Denver home sales were some of the worst on record. There were 3637 homes placed under contract last month, a 19.2 % drop from October’s 4504, and a drop of 9.2% year over year. The number of properties that actually close were down 31.8% from October, 2920 and 4282 respectively. This […]
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Last week the Mortgage Bankers Association’s national survey registered a record 37 percent jump in applications for new conventional loans to buy houses, and a 39 percent increase for home purchases using FHA mortgages. This was spurred by a ½ point drop in 30 year fixed mortgage rates to 5.47%, down from 6% the […]
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Washington has been a buzz the past week regarding the Treasury Department actually listening to the housing and real estate industries calling for wide scale rate reductions for those purchasing homes in 2009. These proposals are being pushed by the National Association of Home Builders and the National Association of Realtors.
In one scenario, a […]
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