Real estate news update: 7-19

Written by Federal Title | 19 July 2010

A daily dose of headlines for real estate agents, mortgage lenders and consumers.

Mortgage rates remain at lowest level in decades
USA Today: Mortgage rates were unchanged this week at the lowest point in decades, but it hasn't been enough to jump-start the housing market.		Foreclosures fall 5%
CNN Money: The number of foreclosure filings of all types -- including notices of delinquency, auction notices and repossessions -- fell during the first six months of 2010.
Feds: No need to change rate despite slowing in housing
Housing Wire: Data on production and spending remains aligned with expectations, but the pace of economic expansion looks to be slower than previously predicted.		FHA may require 10% down for low-credit score qualifiers
Housing Wire: FHA is proposing to update the combination of credit and down payment requirements for new borrowers, reduce seller concessions.
The states and the pains to come
The Commercial Observer: The nation's governors focus on persistent gaps in state and local budgets and on engaging the federal government for additional stimulus funds.
Homeowners association: The new foreclosure
CNBC: HOAs can swoop in, take title, boot the borrower and either rent or sell the home for a good six to 12 months before the bank comes in.

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