US home sales rise 9.4 percent in September

WASHINGTON -- U.S. home resales rose far more than expected last month to the highest level in more than two years as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.

Source:Associated Press
US home sales rise 9.4 percent in SeptemberBy ALAN ZIBEL , 10.23.09, 10:05 AM EDT

FDIC’s Bair: Bank Failures Will Continue at a ‘Good Clip’ This Year

Banks have stabilized since the collapse of Lehman, but “failures will continue at a good clip” this year and next, FDIC Chairman Sheila Bair told CNBC’s Maria Bartiromo Tuesday.

source; http://wallstreetpit.com/10389-fdics-bair-bank-failures-will-continue-at-a-good-clip-this-year; editor

Listed: Meticulous Arts And Crafts Replica

Newly constructed homes that imitate historical styles often miss their mark, capturing the essence of a period from the outside, but leaving the interior devoid of character.
That’s not the case for this recently built, $2.8 million, six-bedroom home in Bedford, N.Y., constructed in the arts and crafts style. The indoor details were attended to as carefully as the stone and shingle exterior: wainscoting, arched doorways and molding galore adorn the place.

Source; http://www.forbes.com/2009/10/09/bedford-luxury-zip-lifestyle-real-estate-house-of-week.html; franseca levy

What You Need to Know About Reverse Mortgages

With today’s retirees living longer than expected, many of them are turning to other sources of income in their golden years. A buzzword among many seniors is “reverse mortgage,” though critics say they’re often too good to be true. So what is a reverse mortgage, and what does it really do?

source; http://www.foxbusiness.com/story/personal-finance/on-topic/need-know-reverse-mortgages-644573935/ ; Kathryn Elizabeth Tuggle

FHA Announces Several Policy Changes. Adopts HVCC Guidelines

The Federal Housing Administration (FHA) today announced several significant policy changes that are intended to improve their exposure to risk. The changes, effective January 1, include.


source; http://www.mortgagenewsdaily.com/09182009_drastic_fha_guideline_changes.asp
Adam Quinones

Mortgage Applications, Loan Rates Fall

Mortgage applications fell for the first time since July, according to a report released Wednesday by the Mortgage Bankers Association.
Last week's 2.2% seasonally adjusted decline in applications, compared to the week prior, came despite a drop in mortgage rates. Fixed rate 30-year mortgages averaged 5.15% last week, down from 5.24% a week ago, the MBA said. Applications for loans to refinance and purchase also pushed lower, falling 3.1% and 1.0%, respectively, when compared to the week prior.

source; Kathryn Glass
FOXBusiness http://www.foxbusiness.com/story/markets/industries/real-estate/mortgage-applications-loan-rates-fall/s

Europe's Most Idyllic Places To Live

Last year, the rising dollar meant European property was becoming more affordable. But even now that the globe is fully in recession, Europe's most idyllic locations have yet to lose any of their charm.

source; http://www.forbes.com/, Parmy Olson, 09.03.09, 06:00 PM

http://www.forbes.com/2009/09/03/europe-most-idyllic-places-lifestyle-real-estate.html

Unemployment rate jumps to 9.7 percent

WASHINGTON - The unemployment rate jumped almost half a point to 9.7 percent in August, the highest since 1983, reflecting a poor job market that will make it hard for the economy to begin a sustained recovery.

sources; associated presshttp://www.msnbc.msn.com/id/32689068/ns/business-stocks_and_economy/

July pending home sales rise to 2-year high

WASHINGTON - Pending U.S. home sales rose more than expected in July to the highest level in more than two years as first-time buyers rushed to take advantage of a tax credit that expires this fall.

source: www.msnbc.com, associated press

http://www.msnbc.msn.com/id/32641606/ns/business-real_estate/

Consumer confidence rises above forecast in August

NEW YORK (Reuters) - U.S. consumer confidence climbed more than expected in August on an improved outlook on the job market and the overall economy, according to a private report released on Tuesday.
The Conference Board, an industry group, said its index of consumer attitudes rose to 54.1 in August from an upwardly revised 47.4 percent in July. The July figure was originally reported at 46.6.

http://www.reuters.com/article/newsOne/idUSTRE57O3L120090825

Source: www.reuters.com