The Treasury Department is planning to rate mortgage companies on how they treat their customers as part of the Obama administration’s $75 billion foreclosure relief effort. The new report will include measurements of how each company is handling borrowers and is expected by July. More than 100 companies are taking part in the program, which [...]
- Mortgage Rates Remain Unchanged
April 23, 2010 By Leave a Comment
Interest rates on 30-year mortgages didn’t move from last week and remained above the 5% level. The average rate for 30-year fixed rate mortgages was 5.07% this week, the same as the previous week. A year ago, 30-year fixed rate mortgages averaged roughly 4.80%. Rates had dropped to a record low of 4.71% in December, [...]
- Second Mortgage Assistance On The Way
April 21, 2010 By Leave a Comment
The Federal Government’s initiative to help homeowners get loan modifications of second mortgages is finally getting off the ground. Just this month, Bank of America became the first major lender in the program to send letters offering modifications to home-equity loan customers struggling with their loans. Citigroup, JPMorgan Chase and Wells Fargo joined the program [...]
- Mortgage Rates Down After Four Weeks of Increases
April 16, 2010 By Leave a Comment
The average rate on a 30-year fixed rate mortgage was 5.07% this week, down from 5.21% a week earlier. Last week’s average rate for a 30-year fixed mortgage had been the highest since mid-August, when it was 5.29%. Rates had dropped to a record low of 4.71% in December, pushed down by a campaign by [...]
- More About St. Joe’s VentureCrossings Plan
April 15, 2010 By Leave a Comment
The St. Joe Company’s West Bay Sector Plan (VentureCrossings) is one of the most unique development opportunities in the United States today. Using Florida’s novel “sector planning” process, this type of large-scale project is able to plan development for the next 50 years. Encompassing 71,000 acres, the approved planning framework includes commercial, office and industrial entitlements, [...]
- Commercial Development at New Airport Named by St. Joe Company
April 14, 2010 By Leave a Comment
What’s in a name … for St. Joe Company, it’s a crucial part of developing commercial property adjacent to the new Northwest Florida Beaches International Airport near Panama City Beach. St. Joe Company announced the first 1,000 acres for the commercial industrial park will be called VentureCrossings Enterprise Centre at West Bay. The name is the [...]
- Investment Sales Down/Vacation Home Sales Up During 2009
April 9, 2010 By Leave a Comment
Vacation-home sales recovered in 2009 while investment sales fell sharply, according to the National Association of Realtors®. NAR’s 2010 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2009, shows vacation-home sales rose 7.9% to 553,000 last year from 513,000 in 2008, while investment-home sales fell 15.9% to 940,000 in 2009 from [...]
- Mortgage Rates Rising
April 8, 2010 By Leave a Comment
- Lending Rules for Florida Condos Eased
April 1, 2010 By Leave a Comment
Freddie Mac is moving to buoy the battered Florida condo market, waiving lending rules that made it harder to buy and sell units in many condo buildings. Freddie Mac said Wednesday it will back mortgages on units in financially troubled condo developments as long as the seller’s loan is already owned or securitized by the [...]
