 Mortgage Update 8-23-10Monday, August 23, 2010 - Article by: Debra Clark -
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury have released the August edition of the Obama Administration's Housing Scorecard. The August 2010 Scorecard was marked primarily by how few changes were evidenced since the July Report. Housing prices have been relatively flat on a month to month basis since January 2009 when they ended their 30 month decline. Historic low interest rates continued to promote home affordability and refinancing options for the nation's families, but few people were taking advantage of it either to purchase a home or refinance their existing one. Overall, the market remains fragile with foreclosure starts showing a slight increase and serious delinquencies continuing to work through the pipeline. MND has described the housing market as "stagnant". |
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