U.S. home prices in December fell to their lowest level since the housing crisis began. The S&P/Case-Shiller 20-city composite fell 1.1% in December, to wrap up 2011 with a 4% downturn. The index hasn’t been this low since February 2003 and has dropped 33.8% from its peak. In December, every city measured but Phoenix and […]

Mortgage rates are the lowest on record. But by a key historical measure, they should be even lower. For months, a key interest rate on mortgage-backed securities, known as the current coupon yield, has tumbled faster than average U.S. 30-year mortgage rates. In recent weeks, the difference between the two has flirted with levels seen in the […]

Thursday’s $25 billion settlement with banks over foreclosure  abuses may result in a wave of home seizures, inflicting short-term  pain on delinquent borrowers while making a long-term housing recovery more likely.  Lenders slowed the pace of foreclosures as they negotiated with attorneys general in all 50 states for more than a year over allegations of faulty and fraudulent […]

A recent University of Michigan survey shows that negative views of the housing market are still widespread.  The survey shows that if the market is improving, the message has not gotten through to the average American.  Only 6% of respondents say “yes” when asked if it is a good time to buy because housing is a […]