Real Estate News compiles a daily wrap-up from each morning’s Wall Street Journal and other news sources.
Loan-Modification Plan Hits Target (WSJ): The federal government said Thursday it had met its goal of beginning trial loan modifications for 500,000 financially troubled homeowners in a sign the foreclosure-prevention plan is gaining traction.
Mortgage Rates Fall Again (WSJ): Mortgage rates fell this week, with the average rate on 30-year fixed-rate mortgages retreating deeper below 5% and several others reaching lows, according to Freddie Mac’s weekly survey.
Marriott Posts Loss, Warns of More Challenges for Hotels (WSJ): Marriott International Inc. cautioned Thursday that investors who are expecting the recession-battered hotel industry to benefit from an economic recovery might have to wait.
Restoring Afghanistan (WSJ): Afghanistan is not quite ready for tourists. But when it is they will stand here, at the edge of Kabul’s Old City, preparing to explore the area of a couple of square miles known as Asheqan wa Arefan. Though from a distance Asheqan wa Arefan looks downtrodden, on closer inspection it contains many lovely 18th- and 19th-century wooden houses, sensitively renovated over the past seven years by the Aga Khan Trust for Culture.
FHA May Need a Bailout (NYT): A year after Fannie Mae and Freddie Mac teetered, industry executives and Washington policy makers are worrying that another government mortgage giant could be the next housing domino.
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