By now we feel the need to explain the term “underwater.” Eight years ago, virtually everyone knew its meaning, since many were experiencing it first-hand. Underwater: owing more money on a mortgage than the house is worth. It was one of the more widespread results of the 2008 housing crash and the ensuing plunge in […]

This week was the fourth consecutive one in which Freddie Mac reported a decline. The 30-year fixed-rate dipped another 5 basis points to 3.89%, the lowest rate in seven months. Last Friday’s Employment Situation report, however, was a major disappointment. Analysts had expected the economy to add another 185,000 new jobs in May, adding to […]

Even though the spring market should be in full flower as it were, this hasn’t been the best month for home sale news. Earlier we reported downturns in April’s new and existing sales; this week pending sales followed suit. The National Association of Realtors (NAR) said its Pending Home Sales Index (PHSI), a leading indicator […]

Home sales encountered some headwinds in the first full month of spring. April sales of both new and existing homes fell off the strong sales figures posted in March although neither the Census data on new home sales nor the National Association of Realtors’ (NAR’s) existing home sales numbers particularly surprised the experts. New home […]