Metas
Naples Florida Real Estate News - 08/31/07
FORECLOSURES - Some 80,000 homeowners with bruised credit and subprime ARMs will be able to refinance before they lose their home to foreclosure with a new loan program insured by FHA, as proposed by President Bush today.
This program may help some homeowners in the Naples real estate market. However, there is a proposal to raise the ceilings from $362k to $417k ($417k is the ceiling for conforming loans). The increase will assist more homeowners in the area, as well as the Bonita Springs and Estero real estate markets.
MORTGAGE RATES - Rates on 30-year mortgages fell this week to the lowest level in three months, 6.45 percent. Rates on ARMs, however, rose slightly.
FLORIDA HOME PRICES - Florida home prices have risen 95.3 percent over the past five years, according to the federal government’s official housing report. Home prices in only one other state, Hawaii, went up more. Nationally, home prices increased 0.1 percent in the second quarter.
MORTGAGE DEFAULTS - Investors who tried to make a buck on the housing market are having an outsized influence on surging mortgage defaults, an industry group said Thursday – not just families with mortgages they can no longer afford.
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