St Louis Home Loan Professionals Noticing HAHB Index Is Rising

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-home-l... St Louis Finance News: HAHB Index Is Slightly Higher? News Press Hot Line: 314-334-0210 | Floyd Tapia Is there goods news from the HAHB for the housing industry? The National Association of Home Builders’ housing market index for the month of August was expected to tick up to 15, according to the consensus forecast of economists surveyed by Thomson Reuters. Although this number would be considered a modest improvement from July, when the monthly index reading...

St Louis Mortgage Analysts Say Retail Sales Are Up

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-mortga... St Louis Finance News: Sales Are Reportedly Up In the Retail Industry Residential and Commercial Lending: 314-334-0210 | Floyd Tapia Recent news from the Commerce Department states that total retail sales rose 0.4 percent to $362.7 billion compared with June’s 0.3 percent decrease. The June drop was revised from the originally reported 0.5 percent. The overall sales percentage gain was slightly lower than anticipated. Economists surveyed by...

St Louis Finance Report Says Lower Jumbo Home Loan Rates May Be Working

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-financ... St Louis Finance News: Large Homes Benefiting From Lower Jumbo Rates Residential and Commercial Lending: 314-334-0210 | Floyd Tapia These historically low interest rates may not be helping out the smaller mortgages throughout the nation. But it seems to be making a difference with the higher end housing market which is getting a tremendous boost from lower jumbo rates. Specifically, this is for mortgages that...

St Louis Mortgage Banks See Higher Home Equity Loan Defaults

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-mortga... St Louis Finance News: Home Equity Loan Defaults On the Rise Residential and Commercial Lending: 314-334-0210 | Floyd Tapia | Just recently, news surfaced that lenders nationwide had written off approximately $11.2 billion in home equity loans in 2009. Additional losses included $19.8 billion in home equity lines of credit which was more than was written off in the...

St Louis Home Loan Professionals Say Short Refinance Efforts Another Wasted Mortgage Program

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-home-l... St Louis Finance News: The Short Refinance Program From the FHA Is Not Very Effective | Residential and Commercial Lending: 314-334-0210 | Floyd Tapia In a surprise announcement, the United States Department of Housing and Urban Development (HUD) reported that the Federal Housing Administration (FHA) Short Refinance program would now provide additional St Louis refinancing options to homeowners who are underwater beginning September 7, 2010. But according to Amherst Securities Group, the actual number of mortgage loans that will qualify for...

St Louis Finance Report Says Small Business Owners Pessimistic On Economy

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-financ... St Louis Finance News: Small Business Owners Fearful of Political Climate Residential and Commercial Lending: 314-334-0210 | Floyd Tapia The optimism index fell to the .09 point to 88.1 in July according to the National Federation of Independent Business (NFIB). “We don’t have any confidence that the economy is going to get fixed, that it’s going to improve,” William Dunkleberg, the group’s chief economist, told CNBC. He goes on to say that...

St Louis Mortgage Analysts Say 20 Percent of Home Mortgage Owners Underwater

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-mortga... St Louis Finance News: With 20 Percent of Home Loan Owners Underwater, Will Obama Cancel These Debts? | Residential and Commercial Lending: 314-334-0210 | Floyd Tapia | The national statistic for mortgage owners owing more than their house is worth is approaching 20 percent according to the real estate experts Zillow.com. Although the overall number has gone down some due to the rise in homeowners going into foreclosure (if that is any comfort), the negative equity epidemic is being...

St Louis Mortgage Report Suggests America Facing A Major Depression

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-mortga... St Louis Finance News: More Bleak News Facing America As Predicted Depression Strikes | Residential and Commercial Lending: 314-334-0210 | Floyd Tapia | The St Louis Refinancing Group news team has held the views of Financier and Hedge Fund Specialist Richard Geller as a welcome depiction of how our economy is actually performing compared to the unbridled fiction that permeates from Capitol Hill. The idea that this country has been sinking for three years into a multi-generational economic crisis is no...

St Louis Mortgage Report Predicts 20 Million Home Loans Underwater By 2012

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-mortga... St Louis Finance News: Economists Say Almost 20 Million Underwater Mortgages By 2012 | Residential and Commercial Lending: 314-334-0210 | Floyd Tapia | There was recent talks by the Deutsche Bank saying more than 14 million borrowers were underwater as far as home values were concerned as of the first quarter of 2010. They went on to report that with a further 10.7 percent decline in house prices which was relative to the...

St Louis Mortgage Professionals Notice Jobless Claims Are Up

http://www.stlouisrefinancinggroup.com/st-louis-mortgage-news/st-louis-mortga... St Louis Finance News: National Jobless Claims Are On The Rise Residential and Commercial Lending: 314-334-0210 | Floyd Tapia | The month ending July 31st saw a huge increase in jobless claims. The Labor Department says there were 479,000 initial jobless claims filed which is up from 19,000 from a revised 460,000 from the third week of July. That weekly figure was the highest since April 10th, when the soaring number was...