Some news concerning the world of real estate:
• Kolko: When will rising mortgage rates hurt the housing market?
For a would-be buyer calculating the mortgage payment on their dream home, the effects are obvious.
• Here’s one reason why reverse-mortgages are so worrisome
Texas senior home is threatened by taking loan
• Mississippi: 18.3 percent of homes underwater
Another six percent at risk of falling
• St. Louis: Fewer mortgages underwater
Down from 16 percent a year earlier.
• Northern Virginia show uptick in sales, prices
The total sales volume of $1.09 billion last month represented an increase of 14.6 percent from the $955 million recorded a year prior, making it a good month from the perspective of the real estate community.
• Where’s the fastest-growing real estate market?
Dubai on top of the list.
• Citi to lay off thousands in its mortgage unit
The layoffs could come at mortgage units across the country, Citi sources said, adding the bank is closing in on deciding on a final number.