The Mortgage Bankers Association (MBA) sees a light at the end of the tunnel, citing an ease in foreclosure rates with the fourth quarter of 2009 seeing a smaller percentage of delinquent mortgages and a drop in those entering foreclosure.

In a written statement, their chief economist, Jay Brinkmann, stated: "We are likely seeing the beginning of the end of the unprecedented wave of mortgage delinquencies and foreclosures that started with the subprime defaults in early 2007."

The MBA survey took a look at 44.4 million loans on one- to four-unit residential properties, or about 85% of all first-lien residential mortgage loans that are outstanding in the country. The good news is fewer problem loans are entering delinquency.

Read more about the survey and its findings on RISMedia.

Posted in Mortgage, Real Estate Market Conditions, Foreclosure, Real Estate Industry, National News

There is a lot of talk, speculation and data concerning the future of the real estate market, so if you're watching it closely, where are the best places to keep your ear to the ground?

Kenneth Harney at Realty Times discusses the findings of the Federal Reserve Beige Book report. The report has found that 9 out of 12 regional member banks are showing positive economic signs, and these regional banks are showing signs of consumer spending and manufacturing output increasing despite the bad blizzardy weather as of late.

In addition to these positive-trending findings and more by the Feds, there is some bleak news for the housing market, as the weather has put a damper on buying. However, there is a silver lining to the cloud as National Association of Realtors' chief economist Lawrence Yun points to a 12 percent increase in pending home sales in January, compared to last year's.

Read more at Realty Times.

Posted in Real Estate Market Conditions, National Association Of Realtors, Real Estate Industry, National News

The Federal Housing Finance Agency announced today that it would extend the Home Affordable Refinance Program (HARP) to June 30, 2011.

HARP is administered by Fannie Mae and Freddie Mac, and has refinanced 190,180 mortgages since it began last April. The HARP program expands access to refinancing for qualified individuals and families whose homes have lost value.

Read more in the press release from the Federal Housing Finance Agency.

Posted in Real Estate Market Conditions, Real Estate Industry, National News

Martin Cohen, co-chief executive officer at Cohen & Steers Inc., talks about the state of the commercial real estate market.

View the original post on Clip Syndicate.

Posted in Real Estate Market Conditions, Real Estate Industry, National News

The National Association of Realtors® (NAR) reports that existing-home sales fell in January but are above year-ago levels.

NAR chief economist Lawrence Yun said there is still some delay between shopping and closing that affected current sales. "Most of the completed deals in January were based on contracts in November and December. People who got into the market after the home buyer tax credit was extended in November have only recently started to offer contracts, so it will take a couple months to close those sales," he said. "Still, the latest monthly sales decline is not encouraging, and raises concern about the strength of a recovery."

Read more in the press release.

Posted in Real Estate Market Conditions, National Association Of Realtors, National News