Fewer Americans are having trouble paying their mortgages now compared to a year ago, according to a new survey. The bad news? Fewer Americans have mortgages. Some of those who were struggling last year have since sold or foreclosed.
Some recent reports on the real estate market show home prices starting to stabilize in many areas. Other data suggests the housing market has further to fall. But whichever direction the numbers are heading, there are few tenets that smart buyers and sellers should always follow.
U.S. mortgage rates have grown for five straight weeks, in the last week hitting their highest levels in seven months. Ten-year Treasury note yields have been climbing on inflation concerns, driving the higher rates.
In a Senate panel hearing Monday, the Iowa attorney general said the problems in the home-loan industry extend well beyond just "robo-signing." A system-wide overhaul is needed, he said. But banks say any mistakes were merely procedural. Were homeowners wrongly forced out of their homes?