Itâ€™s Tuesday News Day and these are this weeks hot topics concerning the real estate market, the financial market, general market conditions, and interest rates.
The Federal Housing Administration, which is the largest insurer of low-down payment mortgages, announced last week that it will raise premiums by 10 basis points, or 0.1 percent, on most of the new mortgages it insures.
Making sense of the story
In other news
The New York TimesÂ â€“Â Growth predicted in home renovations
Homeowners who have been holding off on home improvements, be it a new kitchen or replacement siding, are more likely to call in the contractors in the year ahead.
The Los Angeles TimesÂ â€“Â Homeowners facing foreclosures should be wary of scams
If researchers at the nonprofit Center for Responsible Lending are on target when they say the country is only halfway through the foreclosure crisis, many more people are going to be conned out of a great deal of money trying to save their homes.
Mercury NewsÂ â€“Â Buying a foreclosed house at auction can come with surprises
Buyers should be cautious when buying a house sight-unseen or foregoing a home inspection, as is often the case when purchasing a home at auction.
The Wall Street JournalÂ â€“Â Return of 100 percent financing
Some affluent buyers are getting the keys to their new home without putting a penny down. Itâ€™s 100 percent financing â€“ the same strategy that pushed many homeowners into foreclosure during the housing bust.
Mercury NewsÂ â€“Â As home prices rise, your next credit card could be your house
After years in the doldrums, home equity borrowing jumped last year, reaching its highest level in four years as the housing market rebounded.
DSNewsÂ â€“Â Subprime credit scores on the decline
Designating credit scores below 620 as â€œsubprime,â€ Equifax found the number of subprime borrowers decreased 2.1 percent from the third quarter of 2011 to the third quarter of 2012. The 2.1 percent translates to about 1 million Americans who rose from the subprime category.
If you have any questions about the current real estate market give me a call atÂ (408) 840-3852Â or shoot me an email atÂ Thomas.Feng@gmail.comÂ to discuss your situation and how to get the most out of the current real estate housing market.
Because of the many legal and tax situations that can arise through the sale and purchase of real estateALWAYSÂ consult with yourÂ ATTORNEYÂ orÂ ACCOUNTANTÂ before makingÂ ANYÂ decisions inÂ ANYÂ transaction
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* THIS ARTICLE WAS POSTED ATÂ Thomas Fengâ€™s Bay Area ConnectÂ *