Finance & Mortgage

  • Mortgage Rates Continue to Climb

    January 28 2011 10:08 PM EST

    Mortgage rates are continuing their gradual climb upwards after reaching record lows. The 30-year fixed mortgage rate rose to 4.8 percent from 4.74 percent the previous week, Freddie Mac reports. The average on 15-year mortgage rates also rose slightly from 4.05 percent to 4.09 percent for the week.

  • Bond Yields Rise and So Do Mortgage Rates

    January 28 2011 9:50 PM EST

    McLean, VA – Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®) which shows long- and short-term rates rising this week.

  • Foreclosures Jump in Unexpected Cities

    January 27 2011 4:36 PM EST

    The foreclosure crisis is now spreading to cities that were once relatively unscathed from the crisis. Seattle, Houston, and Chicago have joined the list of other cities in the United States plagued by a growing number of foreclosures and home owners unable to make their mortgage payments.

  • Fannie, Freddie seek to cut dividend on government stake: report

    January 27 2011 12:10 PM EST

    Mortgage companies Fannie Mae and Freddie Mac have been lobbying the Treasury to accept a lower dividend on the preferred stock issued during the government bail out, the Financial Times said, citing people familiar with the situation.

  • FHA Extends 90-Day Anti-Flip Waiver

    January 27 2011 8:35 AM EST

    The Federal Housing Administration (FHA) will suspend it's anti-flipping rule for another year to help continue to speed the sales of some foreclosed homes.

  • 2. A bargain with incentives
    Homes sales at 8-month high; loan demand dives

    January 26 2011 3:08 PM EST

    Sales of new homes raced to their highest level in eight months in December, but gains were driven by a surge in the West that economists were reluctant to call a sign of a recovery in the market.

  • No Mention of MID in Obama's State of the Union Speech

    January 26 2011 2:42 PM EST

    President Barack Obama talked about the need to reduce the federal deficit and simplify the tax code in his state of the Union speech last night but in leaving out the specifics of how he would accomplish those goals he left it unclear whether changes to the mortgage interest deduction (MID) would be part of the mix.

  • BOFA
    Nevada Judge to BofA Unit: Stop Foreclosures

    January 26 2011 2:37 PM EST

    Bank of America unit, ReconTrust Co., was ordered by a Nevada judge to temporarily stop any foreclosures in the state that aren't approved by a court order.

  • Mortgage applications declined last week: MBA

    January 26 2011 11:39 AM EST

    Applications for U.S. home mortgages slumped last week as bankers recorded the slowest refinancing activity in more than a year, an industry group said on Wednesday.

  • Mortgage applications declined last week: MBA

    January 26 2011 11:32 AM EST

    Applications for U.S. home mortgages slumped last week as bankers recorded the slowest refinancing activity in more than a year, an industry group said on Wednesday.

  • How Much Home Can I Afford?

    January 26 2011 11:17 AM EST

    Home prices skyrocketed in the early 2000's, with things really heating up between 2005 and 2007. According to the New York Times, HUD conducted a survey in 2007, finding that home values had risen 16 percent in just those two years.

  • Neugebauer: Foreclosure Aid Hurting, Not Helping

    January 25 2011 7:17 PM EST

    Rep. Randy Neugebauer, the chairman of the House Financial Services Oversight Subcommittee, said the government needs to come to terms with the fact that its foreclosure-prevention efforts are failing and actually making the housing market worse.

  • Mortgage Fees Rising Again

    January 25 2011 7:15 PM EST

    Some lenders already are charging borrowers higher loan-level price adjustments that take effect April 1 for mortgages delivered to Fannie Mae. The fees will not affect borrowers with FICO scores above 740 and loan-to-value ratios of 75 percent or less; otherwise, though, the costs could as much as double in some cases.

  • Homeownership Still Good Long Term Decision, Survey Reveals

    January 25 2011 11:08 AM EST

    The recently released study, American Attitudes about Homeownership, conducted by Harris Interactive for the National Association of Realtors® (NAR) reveals that homeownership still ranks high among the list of smart financial decisions.

  • Successfully Navigating The Changing World of Mortgages

    January 25 2011 11:00 AM EST

    The world of mortgages is changing. To paraphrase the old Joni Mitchell song, most consumers will not know what they've got until it's gone.

  • Judge temporarily delays loan document shredding

    January 24 2011 7:09 PM EST

    A U.S. bankruptcy judge temporarily blocked bankrupt subprime lender Mortgage Lenders Network USA from destroying 18,000 boxes of original loan files after federal prosecutors said documents in them may be needed as evidence in more than 50 criminal investigations.

  • 2. A bargain with incentives
    Navigating the Mortgage Maze: 4 Loan Tips

    January 24 2011 6:27 PM EST

    As banks continue to tighten their credit standards, many borrowers are getting frustrated at what it takes to get a mortgage with a favorable interest rate and terms.

  • Speed Up Foreclosures to Stabilize Housing?

    January 24 2011 6:21 PM EST

    The Federal Reserve and banks need to ramp up foreclosures to expose the shadow inventory that awaits, some real estate industry leaders say. Shadow inventory are homes that have been repossessed or are in the process of being foreclosed upon but have not yet hit the market.

  • Judges to weigh mortgage document destruction

    January 24 2011 12:25 PM EST

    Federal bankruptcy judges in Delaware are due to hold separate hearings Monday on requests by two defunct subprime mortgage lenders to destroy thousands of boxes of original loan documents.

  • Treasury's toxic asset funds gain 27 percent

    January 24 2011 12:21 PM EST

    The U.S. Treasury's toxic asset funds have gained 27 percent since they were created to help revive the mortgage-backed securities market, according to data expected to be released later on Monday.