San Diego area mortgages
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Some basic advice and observations on home mortgage finance
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Last year, when the New York real estate market was still frothy, large blocks of office space were hard to come by. Not anymore.
Almost 16 million square feet is currently listed as available in large blocks in 68 office buildings in Manhattan, according to Colliers ABR, a commercial brokerage firm. That is nearly double the space available a year ago, both in terms of the number of large office blocks — which in New York usually means 100,000 square feet or more — and in terms of total square feet.
Those figures are widely expected to go much higher
The housing market may finally be getting some relief, with lower mortgage rates already encouraging refinancing and Treasury officials considering ways to entice new buyers.
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Last week, the Federal Reserve announced that it would buy $500 billion in mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae. Mortgage rates immediately dropped, and that led to a surge in mortgage refinancing activity for the week — even with the Thanksgiving holiday.
On Wednesday, people close to the discussions said that the Treasury had been talking with Fannie Mae and Freddie Mac about ways to drive down mortgage rates to as low as 4.5 percent. That rate is about a percentage point lower than the going rates for such loans.
Labels: interest rates
Prices fell 32 percent in Las Vegas, the most of any metropolitan area measured, in September to an average of $110.35 a square foot. In Sacramento, the decline was also 32 percent to $137.01, Radar Logic said.
Labels: real estate investment
Richard Davis, CEO of Minneapolis-based U.S. Bancorp, refused to underwrite or securitize subprime credit created by mortgage brokers and underwriters that was often packaged with debt and exotic financial instruments. Once the high-yield rage of Wall Street, those loans have proved toxic for institutional investors and hedge funds, for failing banks -- and for homeowners who never should have been underwritten.
Labels: bank management
Labels: mortgage lenders
Labels: bailout, investment banks