U.S. mortgage rates fell in the past week to the latest in a series of record lows as yields on government debt dropped, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
Rock-bottom rates offer a glimmer of hope for a housing market that has failed to find footing [...]
Mortgage News Around The World
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Mortgage Rates Hit Another Record Low: Freddie Mac
September 2nd, 2010 by Mortgage News Writer Tags: economy growing, fixed rate mortgage, Freddie Mac, homebuyers, housing market, Mortgage Market, Mortgage Rates, tax credit
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U.S. MBA Mortgage Applications Index Increases for Fifth Week
September 1st, 2010 by Mortgage News Writer The number of mortgage applications in the U.S. increased for a fifth consecutive week as record-low borrowing costs lifted refinancing.
The Mortgage Bankers Association’s index rose 2.7 percent in the week ended Aug. 27, the Washington-based group said today. Refinancing climbed 2.8 percent to the highest level since May 2009, while purchases gained 1.8 percent.
The plunge [...]Tags: borrowers, foreclosures, home sales, homebuyers, housing market, loans, Mortgage Applications, mortgage bankers association, tax credit
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Mortgage lending down amid warnings of second house price crash
August 31st, 2010 by Mortgage News Writer Mortgage lending has fallen to its fourth lowest level on record amid warnings of a second crash in house prices.
The latest figures from the Bank of England revealed that net lending – which strips out redemptions and repayments – dropped to just £86 million in July, a steep fall from June’s £518 million.
It is the [...]Tags: Bank of England, borrowers, economists, housing market, housing prices, mortgage lending
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Mortgage modifications offer a bit of good news in the dour foreclosure market
August 29th, 2010 by Mortgage News Writer Homeowners who had mortgages modified recently are faring better than those who did so earlier in the housing crisis, according to a report released Tuesday, possibly debunking predictions of a huge wave of defaults to come.
The State Foreclosure Prevention Working Group warned of other troubling signs, however, on the same day that a separate industry [...]Tags: home loans, home prices, home sales, homeowners, housing market, money, Mortgage Market
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Good credit score required for low mortgage rates
August 27th, 2010 by Mortgage News Writer The average for 30-year fixed-rate mortgages has dropped to the lowest level in decades for the ninth time in 10 weeks. Many are rushing to take advantage of those low mortgage rates, but the truth is, it’s not as easy to do as it used to be. The reason: Some say people in our area [...]
Tags: credit conditions, fixed rate mortgage, foreclosures, Freddie Mac, lender, Mortgage Lenders, Mortgage Rates, recession
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Mortgage rates decline to lowest on record: Freddie
August 26th, 2010 by Mortgage News Writer U.S. mortgage rates fell in the latest week to the lowest on record and posted their ninth drop in the last ten weeks, Freddie Mac said on Thursday.
The average rate on U.S. 30-year fixed-rate mortgages, the most widely used home loan, averaged 4.36 percent in the week ended August 26, down from 4.42 percent in [...]Tags: borrowers, commerce department, economic recovery, fixed rate mortgage, Freddie Mac, home loans, homeowners, Mortgage Rates, real estate, residential mortgage
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Mortgage Applications Rise 4.9 Pct. on Low Rates
August 25th, 2010 by Mortgage News Writer Borrowers rush to refinance on lowest rates in decades, loan applications rise by 4.9 percent
Mortgage applications rose 4.9 percent last week as more borrowers refinanced at the lowest rates in decades.
The Mortgage Bankers Association said Wednesday the gain was fueled by a 5.7 percent increase in refinancing applications. The number of loans taken out to [...]Tags: borrowers, fixed rate mortgage, home loans, homebuyers, mortgage application, mortgage bankers, Mortgage Rates, tax credit
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Obama Administration Considering New Mortgage Industry Fees
August 24th, 2010 by Mortgage News Writer President Barack Obama’s administration may propose that any government backing of mortgages be funded by fees on mortgage lenders, The Wall Street Journal reported.
The administration has not come up with a final plan for mortgage entities Fannie Mae and Freddie Mac, The Wall Street Journal reported without naming its sources. Still, the consensus is that [...]Tags: borrowers, Fannie Mae, Freddie Mac, Mortgage Lenders, Mortgage Market, mortgages, wall street
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Low Rate Mortgage Lock Out
August 23rd, 2010 by Mortgage News Writer Mortgage rates hit 4.42% for a 30-year fixed rate mortgage, the lowest on record. But a growing number of homeowners are ignoring the lower rates locked out from obtaining them due to more restrictive mortgage underwriting guidelines. The new lower rates may make great headlines and TV news fodder but they’re doing little to help [...]
Tags: credit card, financial crisis, fixed rate mortgage, homeowners, Mortgage Lenders, mortgage lending, Mortgage Rates, unemployment
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Fannie-Freddie reform holds implications for rental housing
August 22nd, 2010 by Mortgage News Writer Restructuring market for secondary mortgages may curb affordable rental units
A consensus seems to be forming among policy makers on Capitol Hill: Housing subsidies need to be reduced over the next handful of years.
However, some legislative observers are worried about what that will mean for affordable rental homes.
“I think we’ve not paid close enough attention to [...]Tags: credit crisis, economists, Fannie Mae, financial system, Freddie Mac, housing market, mortgage loans, Mortgage Market, rental apartment
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