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Existing home Sales Essentially Unchanged In July
The Times quoted Moody’s Economy.com, a research firm as predicting that the national median home price will probably not return to its 2007 peak in inflation-adjusted dollars for more than a decade. The price decreases, however, will probably not come close to wiping out the increases homeowners have seen in the last few years. Read More Now
New home Sales Register Improvement Over June
Sales of new homes improved slightly in July with a seasonally adjusted annual sales pace of 870,000, up 2.8 percent above the revised June sales figures. The June number had been particularly dismal at an annualized 834,000 units, well below the 895,000 units analysts had been expecting. The final figure for June, while still well below the expected number, was 846,000, 12,000 above what had been initially reported. Read More Now
Countrywide Gets Big Cash Infusion And May Survive Crisis
Several more big lenders joined the junk pile this week but there was a piece of good news for the nation’s largest mortgage lender which managed to survive a very tough couple of weeks and now appears capable of living to fight another day. Read More Now