It appears that the foreclosure rates on sub-prime mortgages have continued to restrain the ability of qualified Buyers to obtain financing when purchasing a home.

   This has resulted in many fewer home purchases nationally.  As lenders try to determine how to estimate their portfolio losses and project further losses in the financial markets.

The Fed has reacted with short term interest rate cuts but this has not curbed volatility in the mortgage markets.

The losses in the mortgage sector could reach an estimated $2 Trillion dollars.  But in relation the dot com stock market bubble resulted in a $7 Trillion dollar loss.

The National real estate markets report some areas are still falling in pricing and volume while some areas of the country are actually appreciating.

See more by clicking on the picture above or this link to see this U.S. Real Estate Report video.