Home, Mortgage and Personal Finance News Archive

• How Technology Can Help Trim Auto Insurance
  Yahoo Finance (June 28, 2008)
  For years, drivers paid less for auto insurance if they reported low mileage. Now, insurers are using high-tech devices to track customers' habits, and offering deep discounts to those who not only drive less, but also cautiously.
• Tips for Homeowners on the Brink
  BusinessWeek (June 27, 2008)
  In a tough economic climate, many Americans are choosing to just walk away from their mortgages. Is that a good idea? Discover preventative measures you should consider before taking such a drastic step.
• Retirees Find the Time May Be Right to Buy
  The New York Times (June 27, 2008)
  This might be the right time to find a bargain, especially for buyers approaching their retirement years who can afford to take their time. Not only are home prices down more than 25% in some parts of the country, there remains a glut of inventory on the market in traditional retirement destinations like Florida, Arizona and Nevada.
• Renovators in Limbo
  The Wall Street Journal (June 27, 2008)
  Borrowing against home equity has been a major source of funds fueling the renovation boom of recent years. But big lenders, including Bank of America, Citibank, Countrywide Financial, Washington Mutual Bank and USAA, collectively have told hundreds of thousands of customers this year that their home-equity lines have been frozen.
• Credit-Card Debt Snaring More High-Income People
  CNBC (June 27, 2008)
  An attorney with a six-figure salary, Will Chen thought credit card debt was something that only affected people with low-paying jobs. But when the lavish spending inspired by his new job outpaced his paychecks, he quickly fell $100,000 into debt.
• Gloom With a View
  The San Jose Mercury News (June 26, 2008)
  The nation's housing market is in worse shape than anytime in more than 50 years, Harvard researchers said this week, and things are particularly bleak for most new-home builders.
• The Housing Abyss
  BusinessWeek (June 26, 2008)
  The worst of the housing crisis may be yet to come as forces battering the market gain strength. And the remedy coming from Congress? It's likely to fall short of the mark.
• Rates on 30-Year Mortgages Rise to 6.45 Percent
  Salon.com (June 26, 2008)
  Rates on 30-year mortgages rose again this week, climbing to the highest level in more than nine months, reflecting more concerns about how the Federal Reserve will respond to higher inflation pressures.
• Existing Home Sales Edge Up 2% in May
  USA Today (June 26, 2008)
  Sales of existing homes edged up slightly in May, although median home prices continued to fall. The National Association of Realtors said Thursday that sales of existing single-family homes and condominiums rose 2% to a 4.99 million annual rate last month.
• Housing Rescue Delayed Over Energy Provision
  CNBC (June 26, 2008)
  Senate progress toward approving a sweeping housing rescue plan was delayed Wednesday by the objections of a Republican lawmaker who wants to attach an amendment dealing with renewable energy.
• Cashing in on the Mortgage Meltdown
  CNN Money (June 26, 2008)
  As housing prices plummet, Habitat for Humanity is helping some low income families quickly buy homes.
• New Home Sales Near Historic Lows
  CNN Money (June 25, 2008)
  Sales of new homes last month were slightly higher than expected, but were down 2.5% from April and more than 40% versus last year.
• Rethinking the Country Life as Energy Costs Rise
  The New York Times (June 25, 2008)
  Suddenly, the economics of American suburban life are under assault as skyrocketing energy prices inflate the costs of reaching, heating and cooling homes on the distant edges of metropolitan areas.
• Housing Crash Hits Baby Boomers
  MarketWatch (June 24, 2008)
  The collapse of the housing bubble will likely have drastic implications on the wealth and retirement of certain baby boomers, according to a report Tuesday by the Center for Economic and Policy Research.
• On the Path to a Housing Rebound
  Fortune Magazine (June 24, 2008)
  The news that housing starts have fallen to their lowest level in 17 years sounds like one more reason to be depressed about the shrinking value of your home. In fact, it's an almost certain sign that the path to a housing recovery is finally in sight.
• Fannie, Freddie Fail to Relieve Housing by Shunning Jumbo Loans
  Bloomberg (June 24, 2008)
  The slowness of Fannie Mae and Freddie Mac in injecting cash for new jumbo loans may have exacerbated the housing slump in markets including California and Florida, where prices have already fallen more than the national average.
• U.S. Home Prices Fall Fastest in at Least 8 Years
  ABC News (June 24, 2008)
  U.S. home prices tumbled in April at the fastest rate since a widely-followed index was begun in 2000 with all 20 metropolitan areas posting annual declines for the first time.
• Senate Agrees to Speed Up Work on Foreclosure Rescue
  USA Today (June 24, 2008)
  The Senate voted 83-9 to speed up work on the $300 billion mortgage aid plan, putting it on track for a final vote as early as the end of the day. Still, the measure faces a veto threat from President Bush and disputes among Democrats about key details. Those challenges will probably delay any final deal until mid-July.
• U.S.-Backed Mortgage Program Fuels Risks
  The Wall Street Journal (June 24, 2008)
  Mortgages that allow consumers to put little if any money down when buying a home have largely disappeared as a financing option available from private lenders. But they are still available -- and growing more popular -- through a government-backed program.
• Housing Rebound? Don't Hold Your Breath
  ABC News (June 23, 2008)
  Record foreclosures and limited access to credit will make it harder than usual for the U.S. housing market to rebound from this slump, the worst at least since World War II, according to a Harvard University study on Monday.
• Online Real Estate Sites Often Off Base
  The San Francisco Chronicle (June 23, 2008)
  Real estate websites like Zillow.com and Cyberhomes.com offer a trove of information that can help prospective buyers dial into a neighborhood's real estate trends. But their percentage of errors on housing value estimates can be quite large.
• Mortgage Rate Rise Spurs Some to Buy Now
  CNBC (June 22, 2008)
  With a clear upward trend in mortgage rates, more people are moving off the sidelines to lock in now before rates rise even higher.
• States Take a Whack at Foreclosures
  CNN Money (June 21, 2008)
  Attorneys general across the nation take up the cause of housing rescue.

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