May's 6.3% unemployment rate is no improvement over April. The rate has declines 1.2% in 12 months.
The U.S. housing finance market may be poised for a historic shift away from a long trend of primarily refinancing existing real estate loans to primarily funding new real estate purchases.
For credit unions wanting to grow their purchase-mortgage portfolios, the secret is online.
As the SBA recently marked how the Small Business Jobs Acts of 2010 has helped it approve more than $10.3 billion in loan guarantees since the legislation was signed back in September, CUs could reap some unexpected benefits.
RealtyTrac, a leading online real estate firm specializing in foreclosed properties, reported that homes in some stage of foreclosure made up 25% of real estate purchases in the third quarter of 2010.