WASHINGTON – Speaking to the National Association of Home Builders Spring Board of Directors Meeting, U.S. Housing and Urban Development Secretary Shaun Donovan today announced that the Federal Housing Administration (FHA) will allow homebuyers to apply the Obama Administration’s new ,000 first-time homebuyer tax credit toward the purchase costs of a FHA-insured home. Donovan said that today’s action will help stabilize the nation’s housing market by stimulating home sales across the country.
WASHINGTON – The U.S. Department of Housing and Urban Development today announced a commitment to insure a mortgage loan to Wills Memorial Hospital in Washington, Georgia to renovate its 25-bed facility. The .7 million loan is made possible through the Federal Housing Administration’s Section 242 Hospital Mortgage Insurance Program.
WASHINGTON – U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to storm-ravaged Volusia County in Florida and provide support to homeowners and low-income renters forced from their homes following severe storms, flooding, straight-line winds, and tornadoes last week.
Markets have been volatile in the first hour of trading, opening higher after the release of GDP revisions , moving lower with a disappointing business report for the Midwest, and then rebounding after a Consumer Sentiment survey beat expectations. As…(read more)
The S&P 500 has gained 34% from its nadir in March, and following a 1.5% advance on Thursday futures are poised to extend those gains on Friday. S&P futures are up between 6.7 points in pre-market trading, while Dow futures are 66 points higher…(read more)
Mortgage rates increased during the week ended May 28 according to the results of Freddie Mac's Primary Mortgage Market Survey . The average rate for the 30-year fixed-rate mortgage (FRM) jumped from 4.82 percent with 0.7 point during the week ended…(read more)
Markets opened higher Thursday morning following the pre-session release of Durable Goods and Jobless Claims , but indexes began to fall after the 10am release of New Home Sales, which failed to gain as much as predictions. Roughly 90 minutes into the…(read more)
No major surprises in the New Home Sales index for April. Sales of single-family houses saw a 0.3% advance to an annual pace of 352,000 in April, according to the Census Bureau on Thursday. The gain is minor, but some believe the housing market has shown…(read more)
BILLINGS, MT – U.S. Department of Housing and Urban Development Secretary Shaun Donovan announced today that HUD is offering more than 2 million to Indian tribes and Alaskan native communities to improve housing and stimulate community development. Provided through The American Recovery and Reinvestment Act of 2009, signed into law by President Obama on February 17, 2009, these grants are intended to promote greater energy efficiency, mold remediation, and energy conservation retrofit investments.
Sales of existing homes rose as expected in April, led by buyers in lower price ranges, according to the National Association of Realtors on Wednesday. Meanwhile, a report from the FHFA indicates prices may be stabilizing. Existing home sales increased…(read more)