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Las Vegas Real Estate Blog

Las Vegas Real Estate Information for Home Buyers, Home Sellers, and Investors: Real Estate News - Market and Sales Activity - Community Profiles - Agent Profile

Bernanke Says Interest Rates Unlikely to Change Soon

Tuesday, June 3, 2008

Bernanke says rate decrease unlikely. Oil prices are a double edged sword he says. Worries about inflation have the Fed leary of dropping the key rate. What does that tell us about housing rates? Well, though the two are related, it doesn't mean much initially. Lenders have set their rates and unless there is a considerable change in the Fed rate we won't likely see much change in mortgages.

Bernanke says we should see economic improvement later this year because of several government programs.
"To help brace the economy, the Fed in late April dropped its key rate to 2 percent, a nearly four-year low, but hinted that could be the last reduction for a while. Bernanke drove that point home again on Tuesday."

Bernanke Says Interest Rates Unlikely to Change Soon

Tuesday, June 3, 2008

Bernanke says rate decrease unlikely. Oil prices are a double edged sword he says. Worries about inflation have the Fed leary of dropping the key rate. What does that tell us about housing rates? Well, though the two are related, it doesn't mean much initially. Lenders have set their rates and unless there is a considerable change in the Fed rate we won't likely see much change in mortgages.

Bernanke says we should see economic improvement later this year because of several government programs.
"To help brace the economy, the Fed in late April dropped its key rate to 2 percent, a nearly four-year low, but hinted that could be the last reduction for a while. Bernanke drove that point home again on Tuesday."

At Risk Home Owners Get Relief

Monday, June 2, 2008

CNN reports that some are being rescued from a sticky foreclosure situation. They have helped many keep their homes.
"Hope Now helped 183,000 at-risk borrowers stay in their homes during the month of April..."

Many of the home owners were simply allowed to make up late payments. However, many loans were actually altered to lower the balance or interest rate to ease the payment amount.

Sadly, many families are still losing their homes. No one benefits from a foreclosure unless you are on the investor side picking up the recently dumped properties. Some in Las Vegas are reaping the profits. Find out from a Las Vegas real estate agent.

At Risk Home Owners Get Relief

Monday, June 2, 2008

CNN reports that some are being rescued from a sticky foreclosure situation. They have helped many keep their homes.
"Hope Now helped 183,000 at-risk borrowers stay in their homes during the month of April..."

Many of the home owners were simply allowed to make up late payments. However, many loans were actually altered to lower the balance or interest rate to ease the payment amount.

Sadly, many families are still losing their homes. No one benefits from a foreclosure unless you are on the investor side picking up the recently dumped properties. Some in Las Vegas are reaping the profits. Find out from a Las Vegas real estate agent.

Lenders Could Prevent Many Foreclosures by Allowing More Short Sales

Friday, May 30, 2008

A short sale is when a bank will allow a home seller to sell for less than they owe the bank. Sellers often need to move and buyers often want to buy but the current home value is less than the mortgage amount. Banks are all that stand in the way. Ironically, they end up losing more money by foreclosing, relisting the property, and managing the assets. According to CNN:

"Lenders are taking much longer than necessary to approve short sales, according
to Duane LeGate, of House Buyers Network, a short sale specialist."

If you have more questions about short sales or foreclosures let your Las Vegas Realtor know.


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