Monday, August 9, 2010
Unemployment High, Yet No One to Hire? Even with a 9.5% unemployment rate and more than 15 million Americans jobless, according to the WSJ some companies are still having difficulty filling positions.
Under But Not Out Zillow.com reported a drop in the percentage of homeowners with “underwater mortgages,” or mortgages that exceed the home’s value, in the 2nd quarter. In part, this drop is attributed to more homes entering the foreclosure process.
GSE Giants: Where are they Now? With the overhaul of the mortgage market looming, the question of where are they now and, more importantly, where are they going, is on everyone’s mind. Will there be more support for rental housing for low-income residents, or reducing all federal support for housing, Post muses. Or, could the solution posed by the NYT be as simple, and as complex, as an honest and open dialogue about the role the federal government should play in housing.
Time to Buy? Mortgage rates have risen much slower than experts originally predicted four months ago. In fact, rates are about half a percent lower than they were four months ago, with bankers, brokers and market analysts adopting an ‘any day now philosophy’ as to when the rates will rise. In the meantime, borrowers are advised to “hedge their bets by locking in a mortgage rate no more than 30 days before the closing date, just in case rates continue to decline,” said Adam Quinones, the rate strategist and managing editor of Mortgage News Daily.
Image: Early Settlers Talk Through Challenges via usf.edu