Monthly Archives: February 2009

Nationwide, home affordability has received a serious boost from the combination of falling home prices and falling mortgage rates. Today, because of the sagging economy, in most parts of the country, the cost of owning a home versus renting one … Continue reading →

In reading the headlines this morning, you’d think that last month’s Existing Home Sales figure signaled more trouble ahead for the housing market. Quite the contrary. Beyond the attention-grabbing headlines is the real story; the one that shows — once … Continue reading →

One popular housing theory is that — before a bona fide housing recovery can begin — the cost of owning a home versus renting one must return to historical levels. If that belief is a truth, a national return to … Continue reading →

As part of the stimulus package passed last week, Congress authorized a temporary increase to conforming loan limits in certain high-cost parts of the country. “High cost” is defined by a regions’ median sales price. With the temporary increase, a … Continue reading →

Traders brushed off Tuesday and Wednesday’s passage of the American Recovery and Reinvestment Act and the President’s mortgage relief plan, respectively. It showed how unsure markets remain about the stimulus package and its probable impact on the economy. As a … Continue reading →

Everything old is new again. Conforming mortgages are limited by loan size, based on “typical” housing costs around the country. The current conforming limit on a single-unit property is $417,000. In 2008, as part of the Economic Stimulus Act of … Continue reading →

In Mesa, Arizona, Wednesday, the President presented the Homeowner Affordability and Stability plan, a multi-pronged effort to support the housing market. The story made the front page of nearly every newspaper in the country. The president’s plan is sweeping: Incent … Continue reading →

The American Recovery and Reinvestment Act of 2009 was signed into law Tuesday in Denver, Colorado. Also Tuesday, stock markets fell near their November 2008 lows. The two moves are related. With each new stimulus; with each potential jumpstart of … Continue reading →

In anticipation of a strong, government-led stimulus plan, mortgage markets improved with fervor early last week only to fizzle with equal speed as efforts fell short of expectations. Neither the Fed, nor the Treasury nor Congress gave markets what they … Continue reading →

Consumer Confidence fell this month for the first time in three months, reflecting Americans’ concern for the economy, housing, and the financial system. The reading isn’t much of a surprise given our collective exposure to a near-constant stream of negative … Continue reading →