Foreclosure activity climbed in three-quarters of the largest U.S. metropolitan areas in the first half of 2010, compared with the same period a year ago, but declined in some of the nation’s hardest-hit regions, according to data released Thursday.
The number of properties in some stage of foreclosure rose during the first six months of the [...]
Archive for the ‘US Economy’ Category
Foreclosure activity rises in most major metropolitan areas
July 29th, 2010 by HardMoney Writer
Tags: borrowers, businesses, commerce department, financial crisis, Financial Markets, foreclosures, global economic, hard money, Hard Money Loans, home prices, home sales, housing market, lenders, loans
more...Home Prices in 20 U.S. Cities Rose More Than Forecast
July 27th, 2010 by HardMoney Writer
Home prices in 20 U.S. cities rose more than forecast in May from a year earlier as a government tax credit temporarily underpinned sales.
The S&P/Case-Shiller index of property values increased 4.6 percent from May 2009, the biggest year-over-year gain since August 2006, the group said today in New York. Another report showed consumer confidence dropped [...]
Tags: borrowers, chief economist, Financial Markets, foreclosure, home prices, home sales, investments, JPMorgan, loan, mortgage rates, real estate, tax credit
New-home sales rebound from record low in June
July 26th, 2010 by HardMoney Writer
U.S. sales of new homes had a better-than-expected rebound in June after falling to record lows in May.
Sales rose 23.6% in June to a seasonally adjusted annual rate of 330,000, the Commerce Department reported Monday.
New-home sales plummeted a revised 36.7% in May to a record low 267,000 level after a federal subsidy for home buyers [...]
Tags: commerce department, economists, global recovery, Hard Money Loans, home buyers, home sales, homebuilder, housing market, loan, money, US Economy
Seven more US banks collapse on day of Europe’s stress tests
July 24th, 2010 by HardMoney Writer
Georgia’s Crescent Bank and Trust largest of seven to fail
Number of US failures now expected to exceed last year’s total
More than 100 banks in the US have now collapsed so far this year after another seven were taken over by regulators late on Friday – the same day that seven European banks failed a financial [...]
Tags: debt crisis, European Central Bank, European economy, financial market, financial system, investors, mortgages, us bank central
Purchases of U.S. Existing Homes Fell in June
July 22nd, 2010 by HardMoney Writer
Sales of U.S. previously owned homes fell in June for a second month, adding to evidence the market will slump as the effects of a federal tax credit fade.
Purchases of existing houses dropped a less-than-forecast 5.1 percent to a 5.37 million annual rate, figures from the National Association of Realtors showed today in Washington. The [...]
Tags: chief economist, economic recovery, foreclosures, home sales, homebuilder, housing market, mortgages, tax credit, us unemployment
Yen Rises as European Stress Tests, Slowdown Concerns Boost Safety Demand
July 21st, 2010 by HardMoney Writer
The yen rose, snapping a two-day decline against the dollar and the euro, as concern over the pace of the U.S. recovery and the financial health of European banks boosted demand for Japan’s currency as a refuge.
The yen climbed against all of the 16 most-traded currencies except for the Canadian dollar, South African rand and [...]
Tags: bank of japan, economic growth, economic recovery, economists, European economy, global economic, home sales, investments
New home construction drops, but outlook brightens
July 20th, 2010 by HardMoney Writer
New home construction fell to the lowest level of the year in June, but there were indications of increased activity in coming months, the government said Tuesday.
Housing starts fell 5% from May to a seasonally adjusted annual rate of 549,000 last month, the Commerce Department said.
Economists were expecting housing starts to fall to 575,000. On [...]
Tags: commerce department, home buyers, home investors, homebuilder, housing market, leading economist, mortgage rates, real estate, tax credit
Homebuilder Confidence in U.S. Falls to One-Year Low
July 19th, 2010 by HardMoney Writer
Builders in the U.S. turned more pessimistic in July than forecast, a sign the expiration of a government tax credit will depress home construction.
The National Association of Home Builders/Wells Fargo confidence index dropped to 14 this month, the lowest level since April 2009, from 16 in June, data from the Washington- based group showed today. [...]
Tags: foreclosure, home sales, homebuilder, leading economist, lenders, mortgage lenders, mortgages, tax credit, us unemployment, Wells Fargo
Six Banks Fail Friday
July 18th, 2010 by HardMoney Writer
Regulators closed six banks in three states Friday, bringing this year’s total number of bank failures to 96.
All six failed institutions were included in TheStreet’s Bank Watch List of undercapitalized banks and thrifts, based on first-quarter regulatory data provided by SNL Financial.
The Federal Deposit Insurance Corp. was named receiver and found buyers for all of [...]
Tags: bank of america, bankruptcy, banks, financial crisis, Financial Markets, global economic, money, US Economy, wall street
Financial reform bill another win for Obama, but will the public care?
July 16th, 2010 by HardMoney Writer
Following the Recovery Act and health-care reform, the newly approved financial reform bill shows that President Obama is adept at getting his agenda through Congress. But the American public cares about one thing right now: the economy.
Passage of financial regulatory reform signals another landmark legislative victory for President Obama, following the Recovery Act and health-care [...]
Tags: credit markets, economy, Fannie Mae, financial reform, financial regulator, financial system, Freddie Mac, loans, mortgages, obama, taxpayers, U.S. consumer, wall street
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