Thursday, August 23, 2012

Morning Real Estate Review

State of the DC market summer of 2012 (Huffington Post)  This time when your agent tells you your house of choice is not going to last long so bid fast, he might not actually be lying.

Mortgage rates move lower following Fed minutes (Mortgage News Daily) Mortgage rates moved sharply downward following the release of the Federal Reserve Bank's minutes.  Fed officials showed a strong commitment toward aggressive policies that would help the bond market, sending interest rates lower.

Voters fault Obama and Romney on solution to mortgage crisis (Huffington Post)  President Obama's timid response to the housing crisis and Romney's silence on the issue have voters unhappy with both when it comes to solving the underwater mortgage problem.

Fannie Mae tightening standards for some loan types (Businessweek) FNMA, the largest provider of capital for home loans, said it will reduce loan to value ratios for some types of home purchases and refinances, from 97% to 90%.  The average credit score requirement will go from 620 to 640.

Existing home sales rise despite tightening inventories (Mortgage News Daily)  Sales of existing homes increased in July across the nation, to 4.47 million annually, a slight increase over June but a bigger increase over July of 2011.


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