As Housing Market Recovers, As Others Cash In
According to reports by the Census Bureau, nearly 65,000 new homes have been sold in the United States in 2012. Median home prices are expected to rise between six and eight percent from now until the end of the year. Mortgage delinquencies are decreasing at a promising rate as more underwater home loans are modified. The housing market recovery is certainly blooming, which means good news for other sectors of the economy as well.
Fannie and Freddie Reform Threatened by Profits
The financial outlook of Fannie Mae and Freddie Mac, the two government-sponsored entities (GSEs) currently providing financial guarantees to three quarters of all residential mortgages in the United States, is looking better each day. This would be great news under normal circumstances, but it also creates a problem for those seeking to reform the GSEs.
Western States Drive Record Double Digit Price Increases
Five Western states with the highest home price appreciation in February, Nevada (+19.3 percent), Arizona (+18.6 percent), California (+15.3 percent), Hawaii (+14.6 percent) and Idaho (+13.5 percent), led the nation to the biggest price increase in seven years.