1-in-5 O.C. homes selling at a loss
Almost one out of every five homes sold in Orange County last spring went for a price lower than what the owner had paid, according to online home tracker Zillow.com
While 18.2% of all homes sold for a loss, that’s down about 2.5% from the same period a year earlier. Zillow spokeswoman Jill Simmons said that losing deals in O.C. peaked at 25% in February 2009, the month after median home prices hit bottom.
Read more on 1-in-5 O.C. homes selling at a loss…
Construction Spending in U.S. Declined Twice as Much as Forecast in July
Construction spending in July fell twice as much as forecast, led by a slump in homebuilding that will depress U.S. economic growth.
The 1 percent drop brought spending to $805.2 billion, the lowest level in a decade, after a revised 0.8 percent drop in June that wiped out a previously estimated gain, Commerce Department figures showed today in Washington. Spending on federal government projects fell by the most in a year.
Read more on Construction Spending in U.S. Declined Twice as Much as Forecast in July…
Loan picture improves but troubles remain: FDIC
(Reuters) – The U.S. loan picture improved slightly during the second quarter, with the amount of loans 90 days or more past due declining for the first time in more than four years, bank regulators said on Tuesday.
Read more on Loan picture improves but troubles remain: FDIC…
Weekly Jobless Claims Swell to 484,000
August 12th, 2010
The number of initial unemployment insurance claims grew by 2,000 to 484,000 in the week ending August 7, swelling more than expected after last week’s initial figure was revised upward.
Read more on Weekly Jobless Claims Swell to 484,000…
Mortgage rates hit low of 4.44 pct.
WASHINGTON — Mortgage rates sank to the lowest level in decades this week, pushed down by the weak economy and the Federal Reserve’s move to help lift the recovery by purchasing government debt.
Follow Us
Share your thoughts..