Finance & Mortgage
Mortgage Rates Today: Mortgage Rates Improve to Begin Week
February 16 2011 10:43 AM EST
After last Monday's increase, mortgage rates have improved slightly to begin the week. Still attractively low and below 5%, FreeRateUpdate.com's daily survey of wholesale and direct lenders show that 30 year fixed mortgage rates have dipped to 4.75%
MID Under Attack Again in Budget Proposal
February 15 2011 3:55 PM EST
President Obama is targeting the tax deduction for mortgage interest payments and charitable contributions made among high-income earners.
Will Rising Rates Jeopardize Housing Recovery?
February 15 2011 3:49 PM EST
The 30-year conforming mortgage, a popular choice among borrowers, has been on the rise the last few weeks and inched above 5 percent last week for the first time in a year. Experts predict it will go even higher in the coming weeks too.
Consumers captive to bad home mortgage system
February 12 2011 10:08 PM EST
Many U.S. consumers have no choice and are held captive to home mortgage-related companies that are often aggressively fast, commit errors in paperwork and refuse to answer questions, and whose continuing problems are holding back the country's economic recovery, a top U.S. regulator said on Friday.
NAR: Secondary Mortgage Market Needs Improvement
February 11 2011 7:21 PM EST
The National Association of REALTORS® welcomed the Obama Administration's call for an orderly transition from the current form of the secondary mortgage market to a new structure that would enable Americans to achieve affordable, sustainable mortgages.
Obama moves to privatize US mortgages
February 11 2011 5:23 AM EST
The US president will unveil a long-awaited range of plans today to reduce government support of the mortgage and housing market.
Landing Mortgage More Stressful Than Finding a Job?
February 09 2011 3:26 PM EST
Getting a mortgage in today’s lending market isn’t easy and can be a complicated, stressful process for borrowers, according to findings from a national survey by MortgageMatch.com of 1,000 adults.
More Borrowers Underwater on Mortgages
February 09 2011 3:23 PM EST
With home prices still dropping in some areas during the last three months of 2010, more home owners are now finding themselves underwater on their mortgage, according to Zillow.com quarterly survey.
Mortgage Rates Head Higher
February 09 2011 11:13 AM EST
This past week has shown how unpredictable mortgage rates can become in an uneasy economic market. Conforming 30 year fixed mortgage rates have gradually increased from 4.625% to 4.875% while 15 year have gone from 3.875% to 4.250% according to FreeRateUpdate.com's daily survey of wholesale and direct lenders rate sheets. These mortgage rates continue to be available to well qualified borrowers with 0.7 to 1% origination fee.
More Seniors Have Reverse Mortgage Regret
February 07 2011 3:10 PM EST
More than 30,000 U.S. home owners are facing foreclosure after defaulting on their reverse mortgages.
BofA Launches New Foreclosure Unit
February 07 2011 3:09 PM EST
Bank of America Corp. is splitting its mortgage business into two units in order to get a better handle on the flood of foreclosures.
GOP Seeks to End Gov't Control of GSEs
February 04 2011 5:04 PM EST
House Republicans say it’s time to end the government’s control over Fannie Mae and Freddie Mac, which were placed in government control in September 2008.
Mortgage Rates Hold Mostly Steady This Week
February 04 2011 5:01 PM EST
Mortgage rates mostly remained steady for the week, according to Freddie Mac’s weekly report on average mortgage rates.
Mortgage Rates Show Mixed Results This Week
February 04 2011 4:57 PM EST
McLean, VA – Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®) which shows mixed results in both long- and short-term rates this week.
Proposal to Curb Private Transfer Fees
February 03 2011 7:54 PM EST
U.S. regulators are proposing a new rule to ban Fannie Mae and Freddie Mac from acquiring loans where home buyers are charged private transfer fees.
The Most Common Tax Mistakes
February 03 2011 7:53 PM EST
The biggest problems small business owners make on their taxes are often mistakes or oversights they made during the previous year, the Associated Press reports. Sloppy record-keeping is the main reason for mistakes, even when accounting software is used, experts say.
Fed Averts Final Call on Foreclosure Rule
February 02 2011 2:42 PM EST
The Federal Reserve said it will no longer push ahead on a controversial proposal that would impact home foreclosures. Instead, the central bank will leave the decision to the new Consumer Financial Protection Bureau, which debuts in July and will oversee the truth-in-lending law.
Mortgage Applications Bounce Back
February 02 2011 2:40 PM EST
U.S. mortgages were back on the rise last week after a holiday-related slowdown in mid-January, the Mortgage Bankers Association reported.
Regulation Z Takes Effect
January 31 2011 2:26 PM EST
Regulation Z, a monthly payment disclosure within mortgages, took effect on Jan. 30. Enacted by the Federal Reserve, it requires lenders to disclose how and when a loan's interest rate may change.
Fannie-Backed Loans to Get Costlier
January 31 2011 2:24 PM EST
Borrowers with Fannie Mae-backed loans will face higher borrowing costs and interest rates, even if they have a perfect credit score, starting on April 1.