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Short-term rates nearing historic lows

By Inman News, Wednesday, October 29, 2008.

For the second time this month, the Federal Reserve has cut a key short term interest rate, but the widely anticipated move was expected to have little immediate impact on mortgage rates.

In slashing its target for the federal funds overnight rate by 50 basis points, to 1 percent, the Federal Open Market Committee said a decline in consumer expenditures has "markedly" slowed economic activity.  more...

Fannie: First-time buyers need counseling

By Inman News, Wednesday, October 29, 2008.

Fannie Mae is reinstating required home ownership counseling for first-time homebuyers who don't have a solid credit history or are seeking loans tailored for low- and moderate-income buyers.

Beginning Jan. 1, Fannie Mae will require counseling for homebuyers relying on nontraditional credit or obtaining a MyCommunityMortgage loan to by a single family home. Fannie Mae already requires pre-purchase counseling including landlord education for borrowers purchasing a two-to-four-unit property using a MyCommunityMortgage loan.  more...

Home loan apps on the rise

By Inman News, Wednesday, October 29, 2008.

Mortgage applications jumped 16.8 percent during the week ending Oct. 24 from the previous week, but applications were down 30 percent from a year ago, the Mortgage Bankers Association said.  more...

Falling home prices threaten economy

By Inman News, Wednesday, October 29, 2008.

If rising home prices helped the economy bounce back from the dot-com stock market crash by allowing homeowners convert their growing equity into disposable cash, falling home prices will only exacerbate the current downturn by reining in consumer spending, a new study suggests.

The study, by economists at the USC Lusk Center for Real Estate and the UCLA Ziman Center for Real Estate, found that between 1989 and 2001, changes in housing wealth had about three times the impact on consumer spending as other sources of wealth, such as stock holdings.  more...

What the next president must do Premium Content

By Inman News, Wednesday, October 29, 2008.

The presidential candidates, in coordination with the White House, are taking aggressive steps to facilitate a smooth transfer of power to the new administration.

At the top of the agenda are national security and the economy, of course. However, considering the housing market kick-started the over-leveraged credit debacle, the administration must act swiftly to address the drifting housing market, which weighs so heavy on the economy.  more...

Will Realtors go the way of the record labels?

By Inman News, Wednesday, October 29, 2008.

Editor's note: The following is a reader comment on the Oct. 22 Inman News column, "Big brokerage model is 'on the roof.' "  more...

The French way of selling real estate Premium Content

By Bradley Inman, Wednesday, October 29, 2008.
Flickr photo by <a href="http://www.flickr.com/photos/stevenvanwel/17987494/in/photostream/" target=blank>stevenvanwel</a>.

PARIS -- Countries often develop their arrogance from their great cities; thanks to Paris, the French exhibit a sense of specialism about their special place on the planet.

The French authenticity is difficult to challenge -- the bread, the wine, the architecture and the fashion to name a few distinctions. However, the country is often just downright different.

Take the real estate market; it is a maze of varying processes and systems than can boggle the mind. On the other hand, the French real estate market offers consumer more choices.  more...