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Walden Mortgage Weekly Newsletter: August 7, 2012

Home Prices Rise for Fourth Straight Month: 

Home prices rose for the fourth month in a row in May, suggesting the recovery in the housing market continued to gain traction. The S&P/Case-Shiller composite index of 20 metropolitan areas gained 0.9 percent in May from April on a seasonally adjusted basis, topping economists' expectations for a 0.5 percent gain. On a non-seasonally adjusted basis, prices fared even better, jumping 2.2 percent. Compared to a year ago, price declines moderated to slip 0.7 percent, the smallest drop since...

Walden Mortgage Weekly Newsletter: July 31, 2012

Rental Vacancy Rates Fall to Lowest in Decade: 

The share of empty homes for rent fell to its lowest level in a decade during the second quarter.  This is very important for the housing market, as this type of trend is always a pre-curser for stronger housing demand. The residential rental vacancy rate declined to 8.6 percent from 8.8 percent in the January-March period, the Commerce Department said on Friday. The second-quarter reading was the lowest since 2002. In a positive sign for the housing market, the homeownership rate edged up to 65.5 percent in the second quarter...

Walden Mortgage Weekly Newsletter: July 24, 2012

Bright Spots in Housing:

Is a perfect storm brewing for housing?  Last week we saw record low fixed interest rates, an increase in home prices, an increase in housing starts, an increase in Home Builder Confidence and a decrease in housing inventory available for sale.  This provides a much brighter picture in housing. Home Prices Rise: According to the National Association of Realtors , the median home price rose 5 percent to $189,400 in June.  Prices are rising because there are fewer homes for sale. The inventory of unsold homes fell...

Walden Mortgage Weekly Newsletter: July 17, 2012

Number of Underwater Mortgages Decline:

"Underwater" mortgages are when a person owes more on their home than the home is worth.  Most borrowers that did find themselves underwater was due to a rapid fall in home prices when the housing market tanked.  But as home prices come back, the number of borrowers that are underwater are falling. This is very important to the housing market because this has started to release a segment of purchasers that have been essentially trapped in their house, unable to sell it so that they could make the move to another home. The number of Americans who owe more on their mortgages than their homes are worth declined...

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