Flippers and other speculators investing in single-family homes helped drive up prices in many hot housing markets during the boom, they’re now contributing heavily to mortgage delinquencies in several of those markets, according to a report released by the Mortgage
Delinquencies hit 5.12 % of all outstanding mortgages in the second quarter, up from 4.39 percent a year ago according to the Mortgage Bankers Association (MBA) quarterly survey. The loans actually entering foreclosure proceedings stood at 0.65 %, a rise
Existing Home Sales- June 2007 June sales fell 3.8% to an annual rate of 5.75 million, the lowest since November 2002, the National Association of Realtors said. It is the fourth straight monthly drop and below estimates. The supply of