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Current NewsThe following is a list of our recent news articles. Freddie Mac: Expect further declines in lendingDate: 11/19/2008 Economists at Freddie Mac are more pessimistic about the economy than they were a month ago, and no longer believe mortgage loan originations will rebound in 2009. New plan seeks to streamline loan modsDate: 11/19/2008 A new plan to streamline loan modifications for homeowners who have fallen behind on their mortgage payments could help "hundreds of thousands" of borrowers avoid foreclosure. FDIC plan could help 1.5 million keep homesDate: 11/18/2008 Agency's plan would guarantee 2.2 million modified loans Dow Down 411 on Investor WorriesDate: 11/13/2008 Shares on Wall Street tumbled more than 4 percent on Wednesday as frightened investors wondered how long the economic slowdown will last, how deep it will cut, and whether Washington can do anything to stanch the bleeding. What if You Don't Qualify?Date: 11/13/2008 Struggling homeowners who aren't eligible for a loan modification still have options. U.S. Steps Up Help for HomeownersDate: 11/12/2008 Fannie Mae and Freddie Mac, which are under government control, said they would help streamline the modification of loans for potentially hundreds of thousands of homeowners who are 90 days or more behind on their mortgage payments. Consumer debt gets bailout attentionDate: 11/12/2008 Paulson says Treasury will broaden reach to include non-bank financial firms and seek out private capital to match U.S. funds. Loan limits coming down?Date: 11/12/2008 Unless Congress says otherwise, temporary limits for mortgages eligible for purchase by Fannie Mae and Freddie Mac or Federal Housing Administration loan guarantees will be rolled back to no more than $625,500 in high-cost areas beginning Jan. 1. MTA Index Better Again!Date: 11/04/2008 October MTA 2.2550 Mortgage Lenders Continue to Tighten GuidelinesDate: 11/04/2008 Federal Reserve senior loan officer survey Judge: AIG fraud worth $500 millionDate: 11/04/2008 Five former insurance executives convicted of manipulating financial statements could face up to life in prison. JPMorgan will expand mortgage modificationsDate: 11/04/2008 JPMorgan Chase & Co. is the latest major bank to beef up its mortgage-modification efforts as the government also considers a plan to help homeowners avoid foreclosure. More than 7.5 million single-family homes are worth less than what's owed on their mortgages, and another 2.1 million were very close to being upside down at the end of SeptemberDate: 11/01/2008 First American CoreLogic used automated valuation models to analyze its huge database of public records and produce what it claims is the industry's first state-level assessment of households with negative equity. Questions Emerge over Hope for HomeownersDate: 11/01/2008 Data from the Federal Housing Administration this Friday suggests that the much-ballyhooed Hope for Homeowners refinancing program, included in housing legislation passed this July, has yet to really make much of a dent in a troubled mortgage market. Bernanke discusses future of Fannie and FreddieDate: 11/01/2008 Federal Reserve Chairman Ben Bernanke said Friday that the federal government will need to continue to play a role in the future of the mortgage financing market. Moral Hazard of the Coming Mortgage BailoutDate: 10/31/2008 “Why am I being punished for having bought a house I could afford? I am beginning to think I would have rocks in my head if I keep paying my mortgage.” Hopeful Data from HOPE NOWDate: 10/30/2008 Subprime foreclosures decline in Sept. and Q3 Rates Continue to See SawDate: 10/24/2008 Average 30-year fixed-rate 6.04% Here comes stimulus - question is howDate: 10/21/2008 Momentum is building for a new program to boost economy. But Democrats and Republicans have very different ideas on how to do it. States act for renters caught in foreclosure trapDate: 10/21/2008 New laws require mortgage holders to give sufficient notice to tenants Bernanke Endorses Second Stimulus PackageDate: 10/20/2008 Federal Reserve Chairman Ben Bernanke endorsed a second stimulus package in his testimony before the House of Representatives' Budget Committee on Monday morning. How much foreclosure relief will homeowners get from bailout plan?Date: 10/19/2008 The rescue package for the financial system includes measures designed to stem the rising tide of foreclosures. Here's a look at the specifics. HUD puts out list of HOPE lendersDate: 10/18/2008 Participating lenders: 67 and growing THOSE WHO CAN SOAR TO THE HIGHEST HEIGHTS CAN ALSO PLUNGE TO THE DEEPEST DEPTHSDate: 10/18/2008 On Tuesday, the Fed and Treasury Department announced plans to purchase short-term commercial paper that many companies rely on to finance their day-to-day operations, to help businesses with their short-term credit and funding needs. Home prices may plummet, but taxes won'tDate: 10/17/2008 Owners who've seen a steep drop in their home's value shouldn't expect to get a break on their property taxes. Mortgage rates headed to 7%Date: 10/15/2008 The rate on a 30-year fixed mortgage has spiked recently, and it may climb higher thanks to the government's massive rescue efforts. Treasury seeks to prevent foreclosuresDate: 10/14/2008 The Treasury Department "will look for every opportunity possible" to help troubled borrowers avoid foreclosure when it begins buying mortgages and mortgage-backed securities from banks and financial institutions under the Troubled Asset Relief Program. Why the Rate Cuts Didn't MatterDate: 10/09/2008 The Federal Reserve cut rates by 50 basis points Wednesday morning as part of a coordinated effort with central banks in Canada and Europe. Investors no doubt had been waiting for such a move, but it was too little and too late for 2008, Cramer said during today’s Mad Money. Nearly 1 in 6 homeowners is ‘underwater’ 1 in 6 now owe more on their mortgage then their property is worthDate: 10/09/2008 The relentless slide in home prices has left nearly one in six U.S. homeowners owing more on a mortgage than the home is worth, raising the possibility of a rise in defaults — the very misfortune that touched off the credit crisis last year. Bernanke Signals Fed May Cut Rates as Crisis DeepensDate: 10/08/2008 Federal Reserve Chairman Ben S. Bernanke signaled policy makers are ready to lower interest rates as the credit freeze poses an escalating danger to the economy. Feds Coordinate Global Cut in Interest RatesDate: 10/08/2008 In a move of unprecedented scope, the world’s major central banks lowered their benchmark interest rates Wednesday, a coordinated effortto halt a collapse of share prices and a freeze in credit markets that threatens to set off the first global recession since the early 1970s. Fed makes emergency rate cutDate: 10/08/2008 In concert with six major central banks, the Federal Reserve today lowered its target for the federal funds rate by 50 basis points in an attempt to prevent further global economic turmoil. Economists Say Soaring Pending Home Sales Don't Point to Bottom Just YetDate: 10/08/2008 Economists say the surprise gain in U.S. pending home sales in August doesn't mean the worst times in the housing market are over, but the advance in sales is at least a step in the right direction. Two-Thirds of Homeowners Might Find HopeDate: 10/07/2008 Two-thirds of homeowners surveyed in September said they met criteria for a mortgage refinancing program available through the expanded FHA mortgage loan offerings available under the newly-enacted Hope for Homeowners program. A Look At Wall Street's Shadow MarketDate: 10/07/2008 On Friday Congress finally passed - and President Bush signed into law - a financial rescue package in which the taxpayers will buy up Wall Street's bad investments The bailout: An owner's manualDate: 10/07/2008 Congratulations. If you're an American taxpayer, you're about to become the owner of a brand-new $700 billion attempted bailout of the U.S. financial system. HUD Rolls Out Mortgage Assistance; Are Lenders Ready?Date: 10/06/2008 The U.S. Department of Housing and Urban Development on Wednesday touted the availability of lawmakers’ latest attempt to stanch the nation’s foreclosure crisis, called the Hope for Homeowners program. Authorized by the Economic and Housing Recovery Act of 2008, the HFH program is designed to provide a refinancing option for troubled borrowers that cannot afford the terms of their original loan. Bailout Bill Now LawDate: 10/03/2008 H.R. 1424 signed by president Mortgage applications plungeDate: 10/02/2008 In yet another sign of the economic crisis, applications down 23% in the week ended Sept. 26. Down Payment Assistance Officially Dead, For NowDate: 10/02/2008 It’s official. Down payment assistance — DAP or DPA to most industry participants — has gone the way of the Tyranosaurus Rex, independent Wall Street investment banks and the even textbooks that once suggested Pluto as the outermost planet in our solar system. That is to say that DPA is no more, effective today. HUD Rolls Out Mortgage Assistance; Are Lenders Ready?Date: 10/02/2008 The U.S. Department of Housing and Urban Development on Wednesday touted the availability of lawmakers’ latest attempt to stanch the nation’s foreclosure crisis, called the Hope for Homeowners program. Mortgage aid program launchesDate: 10/02/2008 The $300B initiative will help borrowers who spend more than 31% of their income on mortgage payments. Record 16% drop in July home pricesDate: 10/02/2008 July home prices plunge 16.3% in 12 months, according to the Standard & Poor's/Case-Shiller 20-city housing index. 600,000 jobs lost - and countingDate: 10/02/2008 Freeze in credit would only worsen unemployment as economic slowdown intensifies HUD issues mortgagee letter 2008-29Date: 10/02/2008 Guidelines have been issued for refinancing delinquent and current exotic loans using a government-insured program created under the recently passed housing legislation. Lenders that utilize the program will be held accountable for fraudulent appraisals Hope for HomeownersDate: 10/02/2008 Program created by Congress to assist homeowners at risk of loan default and foreclosure that will allow some homeowners to refinance into more affordable FHA-insured mortgages, launched Wednesday Mortgage applications drying upDate: 10/02/2008 Mortgage applications last week dove 23 percent as banks continued to tighten their credit standards, making it tougher to qualify for loans. The bailout package adds new provisions - including raising the FDIC insurance cap.Date: 10/01/2008 The Senate plans to vote on the $700 billion bank rescue plan Wednesday evening - two days after the House failed to pass it. Calif. governor vetoes mortgage billDate: 09/29/2008 Gov. Schwarzenegger vetoed a bill that would have banned negative amortization loans; signs 10 other housing-related bills. Some borrowers get more aid than othersDate: 09/29/2008 How does loan servicer determine who receives 'special treatment'? House Rejects Bailout Bill; Stocks TankDate: 09/29/2008 A weekend spent wrangling over the details of a historic financial bailout led to an unexpected rejection of a bi-partisan proposal in a key vote by the House of Representatives on Monday; House members voted against a proposed bailout package by a 228-205 vote, sending U.S. stock markets into one of the worst one-day tumbles in modern history. Citigroup Acquires Most of Wachovia; “Not a Failure,” FDIC SaysDate: 09/29/2008 Citigroup Inc. will acquire the bulk of Wachovia’s assets and liabilities, including five depository institutions and assume senior and subordinated debt of Wachovia Corp, the FDIC said; Wachovia will continue to own AG Edwards and Evergreen, and will remain its own separate public company. I hate to say it, but I told you so about Washington MutualDate: 09/28/2008 Published by Morgan Brown on September 28, 2008 in Mortgage News/Insight. California Home Prices Drop Record 41% Amid DefaultsDate: 09/28/2008 California home prices tumbled a record 41 percent in August from a year earlier as foreclosure sales pushed down values in the most populous U.S. state. Bailout Negotiations Enter Evening SessionDate: 09/27/2008 Progress in Talks Creates Optimistic Mood; A Phone Call to Warren Buffett Who will originate mortgages?Date: 09/24/2008 News analysis: Risk profile of real estate has changed $700 billion question: fate of bad loansDate: 09/22/2008 Debate rages around Treasury plan First effort to clean up S&L mess misfiredDate: 09/22/2008 News analysis: Lessons to be learned this time around Big bailout: Where things standDate: 09/21/2008 Federal officials and lawmakers will spend the weekend hammering out the details of what could be the biggest government bailout in history. Paulson Announces Major Steps to Restore Mortgage Loan LiquidityDate: 09/19/2008 Paulson says GSEs, Treasury to step up MBS purchases Interest rates head up as Fed stays putDate: 09/17/2008 Financial market fears drive increases Wall Street crisis could put Fed rate cut in playDate: 09/16/2008 Upheaval on Wall Street could resurrect talk of Fed interest rate cut Wall Street shakeout clouds housing pictureDate: 09/16/2008 Lower rates could be boon if economy doesn't falter Retail sales in surprise declineDate: 09/15/2008 August drop signals further weakening of the nation's economy. The politics of bailout: a waiting gameDate: 09/14/2008 Mortgage rates have not been able to hold the early-week low at 5.875 percent, but are no worse than 6 percent for the lowest-fee deals. Fed's next move could be to lower ratesDate: 09/14/2008 The central bank is likely to keep its key interest rate at 2% at its September 16 meeting but expectations are growing for a rate cut before year's end. Retail Sales in U.S., Excluding Autos, Probably Fell in AugustDate: 09/12/2008 Sales at U.S. retailers excluding car dealers probably dropped in August for the first time in six months as Americans retrenched in the face of mounting job losses and record foreclosures. Fixed Rates TumbleDate: 09/12/2008 Average 30-year fixed rate 5.93% Congress weighs reprieve for seller-funded giftsDate: 09/12/2008 A last-ditch effort to head off an Oct. 1 ban on the use of seller-funded down-payment assistance with FHA-backed loans is picking up steam as a compromise bill that would mend rather than end the practice gains momentum Housing and Job Markets Remain WeakDate: 09/11/2008 Pending Home Sales And Hiring Slide, Clouding Rest of '08 WaMu Tanks as As Buyers Run ScaredDate: 09/11/2008 A shake-up at the top has apparently done little to quell investor unrest over the future of Washington Mutual (WM: 2.32 -29.70%), the nation’s largest thrift. Share prices fell for the third straight day despite a move on Monday to replace long-time CEO Kerry Killinger with a company outsider, and were down more than 20 percent on Wednesday when this story was published. Bottom line: investors are fleeing firms with signficant mortgage exposure and a likely need to raise capital. Mortgage rates plummet, but borrowers bewareDate: 09/11/2008 The takeover of Fannie and Freddie may make mortgage borrowing cheaper - but it won't make getting a loan any easier. HR 6694 reprieve for seller-funded giftsDate: 09/10/2008 A last-ditch effort to head off an Oct. 1 ban on the use of seller-funded down-payment assistance with FHA-backed mortgage loans is picking up steam as a compromise bill, that would mend rather than end the practice, gains momentum. August foreclosures top 100,000Date: 09/10/2008 Nearly 102,000 homeowners lost their properties to foreclosure in August, up nearly 6 percent from July and more than 80 percent higher than in August 2007, according to data released Monday by Foreclosures.com, a provider of foreclosure information Mortgage Bailout Is Greeted With ReliefDate: 09/10/2008 Investors cheered the U.S. government's seizure of the nation's two troubled mortgage loan giants, with stock markets rallying in the U.S. and abroad and mortgage loan rates falling. But obstacles remain if the Treasury's takeover of Fannie Mae and Freddie Mac is to succeed. Plan Skirts Housing's Biggest TroublesDate: 09/09/2008 The government takeover of Fannie Mae and Freddie Mac likely will help ease mortgage rates for home buyers, say economists, home builders and housing experts. But it won't cure the housing market's biggest ailments: falling home prices and rising foreclosures Government Takes Over Fannie, FreddieDate: 09/08/2008 GSEs placed in conservatorship Fannie’s preferred bloodbathDate: 09/08/2008 To no one’s surprise, common and preferred shareholders in Fannie Mae (FNM) and Freddie Mac (FRE) got crushed Monday, following Treasury Secretary Henry Paulson’s announcement this past weekend of a plan to take the companies under government control to reassure investors in the companies’ senior debt and mortgage-backed securities. U.S. seizes Fannie, Freddie, aims to calm marketsDate: 09/07/2008 The U.S. government on Sunday seized control of mortgage finance companies Fannie Mae and Freddie Mac, launching what could be its biggest federal bailout ever, in a bid to support the U.S. housing market and ward off more global financial market turbulence. Mortgage takeover promises no quick housing fixDate: 09/07/2008 Washington's latest attempt to resuscitate the moribund U.S. mortgage business moves the housing market out of the emergency room and into intensive care but by no means cures the patient. Shiller: House Price Decline Could Be Worse than DepressionDate: 09/05/2008 Mortgage Loan Home price declines are already approaching those in the Great Depression... Mortgage Rates Ease as Economy Regains Center StageDate: 09/05/2008 Mortgage rates drifted lower this week, as reports of broad economic weakness helped keep a lid on expectations of any near-term jump in interest rates. Mortgage rates down on economic newsDate: 09/05/2008 Rates for 30-year fixed-rate mortgages for the week ending Sept. 4 averaged 6.35 percent with an average 0.7 point, down from 6.4 percent last week and 6.46 percent a year ago, Freddie Mac said in its weekly Primary Mortgage Market Survey No Stopping MTA DeclineDate: 09/05/2008 August MTA 2.66417% FHA Loan Activity SurgesDate: 09/04/2008 Weekly mortgage loan applications up 20% Housing Remains Weak, Economy Slowing: FedDate: 09/04/2008 The Federal Reserve’s latest Beige Book report, released Wednesday and containing updates on a range of macroeconomic factors spanning the twelve Federal Reserve Districts, paints a picture of a broadly slowing economy and a U.S. housing market that remains in the doldrums. And They Could Call It FrannieDate: 09/03/2008 Here’s a bold idea: Fannie Mae and Freddie Mac should merge Mortgage rates at lowest in more than a monthDate: 09/02/2008 Freddie Mac reports interest on a 30-year fixed rate loan hits 6.4 percent Fed gets it: Credit crisis trumps inflationDate: 08/31/2008 Mortgage rates improved again this week, slightly, to 6.375 percent and the 10-year T-note trading often just under 3.8 percent, a resistance level since spring. The improvement anticipates a weakening economy, but a further decline in rates will depend on the fact of weakness. A test comes quickly, in the first August data due next week. FHA regaining market shareDate: 08/31/2008 Private mortgage insurers saw demand hit a low for the year in July, with applications falling 4.6 percent from the previous month and 52 percent from a year ago, an industry group said. Meanwhile, FHA loan guarantees are grabbing more market share. Three steps to cutting property taxesDate: 08/30/2008 With home prices retreating, you'd think property taxes would too. But don't count on it -- by the time you see lower taxable values, your local government may be in enough of a squeeze to raise the rates that apply to those taxable values. Seeking approvalDate: 08/30/2008 New rule for getting a mortgage today: Don't assume anything FDIC Plays Down Stock Impact Of Fannie, Freddie on BanksDate: 08/30/2008 Federal bank regulators said they believe a plunge in the preferred shares of Fannie Mae and Freddie Mac would have limited impact through the banking system. Prime Foreclosure Starts Surge Past Subprime in JulyDate: 08/30/2008 There can be no remaining doubt that the nation’s mortgage loan crisis has become a problem for prime credit borrowers: data released by the HOPE NOW coalition on Wednesday finds that prime foreclosure starts have finally moved ahead of subprime foreclosure starts, for the first time since the industry coalition began collecting data in July of last year — and likely for the first time in a much longer timeframe, as well, sources suggested to HousingWire Thursday afternoon Consumer spending flags, but confidence risesDate: 08/30/2008 Personal income tumbled unexpectedly in July and inflation-adjusted spending shrank as government economic stimulus waned, but consumer spirits rose this month, a hint the economy may muddle through its woes. Fixed-rate mortgage loans more affordableDate: 08/29/2008 Rates for 30-year fixed-rate mortgage loans averaged 6.4 percent this week with an average 0.6 point, down from 6.47 percent a week ago and 6.67 percent a year ago, Freddie Mac said in its weekly Primary Mortgage Loan Market Survey. Home prices drop by a record amountDate: 08/28/2008 But data suggest severity of housing slump may be waning FHA announces new PMI ratesDate: 08/28/2008 HUD just released a new Federal Register (FR) notice today outlining their new PMI structure. As you will recall the "risk based pricing" PMI was put on moratorium by the recently passed housing bill. Housing Lenders Fear Bigger Wave of Loan DefaultsDate: 08/28/2008 The first wave of Americans to default on their home mortgages appears to be cresting, but a second, far larger one is quickly building.Homeowners with good credit are falling behind on their payments in growing numbers, even as the problems with mortgages made to people with weak, or subprime, credit are showing their first, tentative signs of leveling off after two years of spiraling defaults. Fed Hints It Will Raise Benchmark Interest RateDate: 08/28/2008 Federal Reserve policy makers expect to eventually raise their benchmark interest rate in an effort to slow inflation, but they have not agreed to a timetable for the move, according to minutes of the Fed’s last meeting in early August. Don't rush to pay off that mortgageDate: 08/28/2008 You normally don't think of people who prepay their mortgages as being wasteful or careless. FHA to discontinue risk-based pricing Oct. 1Date: 08/28/2008 Bowing to Congress, the Federal Housing Administration will discontinue risk-based premium pricing on its mortgage loan guarantee programs for one year beginning Oct. 1. Glimmer of Hope in Home PricesDate: 08/27/2008 Home prices are improving in some parts of the country but still falling sharply in places like Phoenix, as the weak housing market and shaky consumer confidence continue to weigh on the U.S. economy. Fed's next move probably will be a hike, minutes sayDate: 08/26/2008 Even as they grappled with inflation worries, most Federal Reserve officials at their August meeting didn't believe the Fed's key interest rate was too low given harder-to-get credit conditions straining consumers and businesses alike. Higher Fees for MortgagesDate: 08/24/2008 Mortgage Loan rates are typically driven by the financial market’s outlook for long-term interest rates, but not always. Policy changes at Fannie Mae and Freddie Mac, the two government-sponsored companies that buy most mortgage loans issued by United States lenders, recently helped drive that point home. Fannie Mae, Freddie Mac and FHA, what are the differences?Date: 08/20/2008 Lately, Fannie Mae, Freddie Mac and FHA have all been getting a lot of attention. Mortgage loan applications drop to six year lowDate: 08/20/2008 Fall in mortgage loan application volume is latest sign of struggling housing market More Negative Press for Fannie and FreddieDate: 08/19/2008 Last week former Federal Reserve Chairman Alan Greenspan strongly criticized the form of the Congressionally mandated Freddie Mac/Fannie Mae "backstop" program and a survey by the Wall Street Journal found that a small majority of economists involved thought the bailout of the two government sponsored entities (GSEs) would ultimately be invoked, handing taxpayers responsibility for their $5.2 trillion debt. Liar loans' threaten to prolong mortgage crisisDate: 08/18/2008 In the mortgage industry, they are called "liar loans" _ mortgages approved without requiring proof of the borrower's income or assets. The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets." Fed Fund Futures Expect Slim Chance of Rate Hike in Near-TermDate: 08/15/2008 The Fed fund futures market expectations of a rate hike continue to diminish after today's modest rise in the University of Michigan's consumer sentiment index. Fed officials fret on growth, point to rate holdDate: 08/15/2008 Two top Federal Reserve officials on Friday voiced concern about weak U.S. economic growth for the rest of 2008 and said inflation, while a worry, should start to fade over time. Fedspeak Highlights: Evans on ‘Three-Front’ Economic ConflictDate: 08/15/2008 Charles Evans, president of the Federal Reserve Bank of Chicago, says in a speech that the sluggish economy, “rising” inflation risks and financial distress pose a “three-front conflict for policymakers.” Mr. Evans, in a speech in Bloomington, Ill., that since the Fed’s June policy meeting “the risks for growth have increased and the risks for inflation remain elevated and a concern.” Excerpts of his remarks to the McLean County Chamber of Commerce: Mortgage Apps Drop as Rates Rise: MBADate: 08/14/2008 Rising rates helped push consumers out of the market for a mortgage, according to statistics released Wednesday by the Mortgage Bankers Association. House Majority Urges Withdrawal of RESPA ProposalDate: 08/14/2008 A hotly-contested move by the U.S. Department of Housing and Urban Development to introduce a number of reforms to the Real Estate Settlement and Procedures Act came under fire this week from more than 240 lawmakers in the House of Representatives. Another Blow to Battered Alt-A MarketDate: 08/12/2008 Fannie to stop buying Alt-A mortgages Freddie Raises FeesDate: 08/12/2008 Market condition delivery fee raised to 0.50% Fed sees credit crisis crimping lendersDate: 08/12/2008 Central bank report shows 75% of banks have tightened lending standards, up from 60% three months ago. Why Bailouts Stink—and Why We Need ThemDate: 08/12/2008 They may seem unfair to prudent taxpayers who ducked the housing frenzy, but lessons from the Depression show why federal rescues are necessary Mortgages get more expensive - againDate: 08/09/2008 In wake of huge losses, Fannie Mae announces changes that will make home loans harder and more expensive to obtain After a tumultuous year, mortgage rates are back to where they were last summerDate: 08/09/2008 After all the twists and turns mortgage rates have taken over the past year, it's come down to this: Home loans cost almost exactly what they did last summer. Closing Costs Rise 14 Percent This YearDate: 08/09/2008 The cost of getting a mortgage continued to climb last year, despite historic industry headwinds that saw demand for mortgages drop dramatically — a study of average closing costs, released Thursday morning, found that 2007’s average cost of $2,736 has jumped 14 percent to $3,118 in 2008. Long-term mortgage rates hold steadyDate: 08/08/2008 U.S. housing market still in turmoil and dragging down nation's economy. Inflation not dire enough to sway FedDate: 08/06/2008 Fed stands pat on short-term rates Owners misjudge home value trendsDate: 08/06/2008 Survey: Perception is rosier than market realities If you wondered who the Fannie bail out was for, wonder no longer…Date: 08/06/2008 Bloomberg now has an article confirming that there were high-level talks between the US Treasury Secretary Hank Paulson, Fannie Mae CEO Mudd and Asian investors who hold a bulk of this debt. When you think of the homeowner bail out, remember, $300 billion was earmarked for American citizens. The rest of the near $2 trillion will go to securing our partners cash flow in to our country Paulson taps Morgan Stanley for Freddie, Fannie adviceDate: 08/05/2008 Treasury says firm will help it with options under new authority. Fed leaves rates unchangedDate: 08/05/2008 Central bank keeps key short-term rate at 2% and hints that it could stay there for a while as Ben Bernanke and Co. cite risks of inflation and a slowdown. Time to lock in your mortgage rateDate: 08/05/2008 Home buyers may find big savings in locking in mortgage interest rates. Stuck in quagmire, Fed likely won’t raise ratesDate: 08/04/2008 Addressing either inflation or growth will probably cause other to worsen Should you buy a home now?Date: 08/04/2008 The drop in prices may mean it's time to jump in. Or is it too soon? Experts offer pros and cons. Legislation Aims to Bring DPA BackDate: 08/02/2008 Just as seller-funded downpayment assistance appeared to be on its way out the door, new legislation has been introduced to bring it back. California hints at bottom to housing slumpDate: 08/02/2008 California's battered homes market may be hitting bottom, suggesting a national housing recovery may follow, veteran banking analyst Charles Peabody said on Friday, citing a rebound in home sales as renters become owners. U.S. stocks look to Fed for directionDate: 08/02/2008 Stocks will turn to the Federal Reserve for direction next week, after the market's roller-coaster ride over the past five sessions reflected continued uncertainty over the problems still gripping the financial system and the economy. Tips For Homeowners On Understanding Sweeping Mortgage BillDate: 08/01/2008 The most sweeping mortgage relief legislation since the Great Depression is expected to be signed by President Bush now that it has been passed by Congress. The centerpiece of the housing package -- HOPE for Homeowners -- could provide as much s $300 billion in government-backed refinanced mortgages. Freddie Steps Up Foreclosure Prevention FeesDate: 08/01/2008 Freddie Mac is doubling the fees it pays to save mortgages from foreclosure. Workouts let thousands keep their homesDate: 08/01/2008 Loan servicers report record workouts Hopeful Signs in Foreclosure BattleDate: 07/30/2008 HOPE NOW reports record workouts Mortgage markets, inflation hamper recoveryDate: 07/29/2008 No telling when housing markets will turn, say experts Housing still unaffordableDate: 07/29/2008 Price declines do not cure sticker shock Paulson Encourages Covered Bond Market to Increase Mortgage FinancingDate: 07/29/2008 Treasury Secretary Henry Paulson said Monday that covered bonds are an answer to financial market's request for clarity. He said covered bonds, a $3 trillion market used widely in Europe for mortgage loan funding, can develop without legislation in the U.S., and four of the largest U.S. banks are already prepared to set up the market. U.S. Treasury Will Borrow Record Amount for Second Fiscal QuarterDate: 07/29/2008 The U.S. government plans to issue more debt in the current quarter than any time in history, the Department of Treasury said on Monday. Housing Bill Has Something for Nearly EveryoneDate: 07/29/2008 If you are ignoring the housing bailout bill because you think it benefits only troubled homeowners, you may miss out on a windfall. The Downfall of a California DreamerDate: 07/29/2008 After his mortgage company nearly crashed a decade ago, Michael W. Perry set a new course. He bought a bank so the company, soon rechristened IndyMac Bank, would never run short of money again. Mortgaged to the WorldDate: 07/29/2008 CONGRESS has given the Bush White House yet another chance to operate outside the Constitution. Unsurprisingly, the administration has taken it. Treasury Secretary Henry Paulson now has the go-ahead for his two-part plan to salvage Fannie Mae and Freddie Mac, the government-sponsored mortgage companies — a blueprint that violates fundamental American principles in two worrisome ways. Home Prices Hit Four-Year LowDate: 07/29/2008 The S&P/Case-Shiller index reports that in May, home prices plunged to 2004 price levels, wiping out four years of appreciation Why the Dollar May Be Ready for a ReboundDate: 07/29/2008 As outlooks for the euro zone and Britain dim, central bankers will likely be forced to lower interest rates, creating conditions that could restore some of the U.S. currency's value Tips for Homeowners on the BrinkDate: 07/29/2008 In a tough economic climate, many Americans are choosing to just walk away from their mortgages. Is that a good idea? Housing Bill ApprovedDate: 07/28/2008 Senate passes H.R. 3221 Provisions of housing-mortgage relief billDate: 07/27/2008 The housing bill that Congress passed Saturday and sent to President Bush would: Strict Lending Standards Contribute to Housing WoesDate: 07/27/2008 Treasury Secretary Henry Paulson believes the best way to kick start the ailing U.S. economy is to fire up the U.S. housing market. The Senate is poised to approve a massive housing bill today that may rescue some troubled homeowners in North Texas but is most likely to benefit homebuilders and nonprofit groups that may scoop up foreclosed homes.Date: 07/27/2008 The $25 billion bill is the product of months of intense lobbying and compromise and was driven by lawmakers and business interests hardest hit by foreclosures and bad loans. Mortgage loan bailout nears final passage Could aid 400,000 homeownersDate: 07/27/2008 A landmark housing bill crafted to aid hundreds of thousands homeowners facing foreclosure and to buttress the mortgage loan market cleared a final procedural hurdle Friday and is expected to get final congressional approval Saturday. No sign yet of a bottom in home pricesDate: 07/25/2008 Rising foreclosures, big new-home inventory push recovery into next year Housing, jobs send stocks skiddingDate: 07/25/2008 Dow plunges more than 280 points, halting a Wall Street rebound, as housing and unemployment worries sink stocks. California mortgage defaults up 125%Date: 07/23/2008 DataQuick: Activity may be 'nearing a plateau' Mortgage Rates Increase SharplyDate: 07/23/2008 30 year rates rose to an average of 6.71% last week, and jumbo rates have risen to an average 7.84%. A Private, Blunter Bush Declares, ‘Wall Street Got Drunk’Date: 07/23/2008 When he talks about why the economy is ailing, President Bush often turns to euphemism, citing “challenges in the housing and financial markets.” But Mr. Bush offered a far blunter assessment last week at a closed Republican fund-raiser in Houston: “Wall Street got drunk.” WaMu Has $3.3 Billion Quarterly Loss on DelinquenciesDate: 07/23/2008 Washington Mutual Inc., the biggest U.S. savings and loan, reported a $3.3 billion second-quarter loss on uncollectible loans as a record number of borrowers were unable to keep up with mortgage payments. The Fannie Mae GangDate: 07/23/2008 Angelo Mozilo was in one of his Napoleonic moods. It was October 2003, and the CEO of Countrywide Financial was berating me for The Wall Street Journal's editorials raising doubts about the accounting of Fannie Mae. I had just been introduced to him by Franklin Raines, then the CEO of Fannie, whom I had run into by chance at a reception hosted by the Business Council, the CEO group that had invited me to moderate a couple of panels. How the housing rescue bill can help youDate: 07/23/2008 The legislation, which is likely to be passed quickly, devotes $300 billion to helping troubled homeowners avoid foreclosure. See if you qualify. Industry pushes for HUD to drop RESPA rule changeDate: 07/20/2008 Trade groups representing Realtors, lenders, title insurers and settlement services providers are asking lawmakers to sign a letter to Housing Secretary Steve Preston urging HUD to scrap proposed changes to the Real Estate Settlement Procedures Act and work with the Federal Reserve on simplified loan disclosure forms instead. Fannie, Freddie problems not pushing rates upDate: 07/18/2008 Government pledge to backstop GSEs helping rate spread Top obstacles for first-time buyersDate: 07/18/2008 About three out of four Americans think the housing crisis has not reached its worst point, but nearly half think conditions will improve once a new president is elected, according to a Harris Interactive poll commissioned by Move Inc [1]. Among prospective home buyers, 81 percent said they face barriers to buying in the current market. High home prices, money for a down payment and lack of confidence in the economy were the most often cited barriers. Only one in 100 current homeowners plans to buy a home in the next six months, compared with 2 percent of renters. About 4 percent of current homeowners say they plan to buy a home in the next 12 months, and 7 percent of renters. Single-family starts slow to 1991 paceDate: 07/18/2008 Starts rise from May to June but fall 27% year-over-year Some Fed Officials Backed Rate Rise SoonDate: 07/18/2008 Some Federal Reserve policy makers in June favored an increase in the benchmark U.S. lending rate ``very soon,'' according to minutes of that month's meeting Bernanke, Frank Form Improbable Alliance Over Subprime CrisisDate: 07/18/2008 After Federal Reserve Chairman Ben S. Bernanke detailed to a U.S. House panel yesterday the Fed's new efforts to toughen mortgage-lending rules, Representative Barney Frank praised him and panned his predecessor. Fed discussed raising rates to curb inflationDate: 07/18/2008 Uncertainty over economy reinforces belief there will be no change in Aug Fed Chief Bleak on Economic OutlookDate: 07/17/2008 A sense of economic gloom gripped Washington on Tuesday as President Bush urged Americans not to lose faith, the Federal Reserve chairman offered a mostly bleak assessment of the difficulties ahead for the economy, and the administration’s latest effort to help the housing sector faced tough questioning in Congress. Opposition, From Both Parties, Over Bailout PlanDate: 07/17/2008 The Bush administration’s plan to rescue the nation’s two largest mortgage finance companies ran into sharp criticism in Congress on Tuesday as some lawmakers questioned the open-ended request for money that could be used to help the companies. Companies rallying for seller-funded down paymentsDate: 07/17/2008 Nonprofits that funnel money from homebuilders into seller-funded down payment assistance programs are ramping up a public relations campaign to save the programs from a proposed HUD rule change or Congressional ban. Fannie & Freddie's Friends In High PlacesDate: 07/16/2008 It was during the Great Depression that Fannie Mae was founded - in 1938 - with a simple purpose in mind: to give lower and middle income Americans more access to the Great American Dream, owning your own home. Bernanke: Inflation remains a top concernDate: 07/16/2008 Fed aims to prevent wage-price spiral Companies rallying for seller-funded down paymentsDate: 07/16/2008 Senate, HUD looking to kill assistance programs The bad business of 'Friends of Angelo'Date: 07/16/2008 Perspective: Industry should condemn sweetheart home loans for politicians Fannie, Freddie don't plan to borrow from fedsDate: 07/16/2008 Paulson speaks to Senate about GSEs' challenges Government Considering a Fannie Freddie TakeoverDate: 07/11/2008 For the third day this week the stocks of Freddie Mac and Fannie Mae took a hammerin' on Wall Street and for the second day major newspapers are speculating on their survival as independent companies. How Strong Is the U.S. Consumer?Date: 07/08/2008 The way America measures Web commerce may be painting an overly rosy picture of the economy State budgets axed by housing downturnDate: 07/07/2008 Real estate roundup Labor's Weakness Will Put a Brake on InflationDate: 07/07/2008 Will the Fed hike rates to stop inflation from spreading beyond energy and food? Not when the job market is so feeble that workers can't command higher wages. Sell me yours, I'll sell you mineDate: 07/06/2008 House-swapping sites link consumers in different mortgage loan markets 1930s-style collapse haunts economyDate: 07/01/2008 Why near-term rate increases are unlikely How should the next president address the foreclosure crisis?Date: 06/30/2008 We asked several experts what three steps the next president should take to address the foreclosure crisis: Adjustable Rate Mortgages (ARM) offered by lenders have periodic rate changes, usually in relationship to an index, and payments may increase or decrease accordingly.Date: 06/30/2008 Most adjustable rate mortgages offer low introductory rates or "start" rates (can be as low as 5% below the current market rate of a fixed rate loan). This introductory start rate is usually good for one (1) month to as long as 10 years. Generally, however, the lower the start rates the shorter time before the loan makes its first adjustment. Remortgages are at twice the level of new loans, keeping the lenders in business, meaning first-time buyers sufferDate: 06/30/2008 The news on housing-market activity keeps coming and it keeps surprising with its unprecedented weakness. Figures released by the British Bankers’ Association (BBA) last week showed that just 27,968 new mortgages were approved in May, worth £4.3 billion. That was a drop of nearly 20% compared with April, which itself was weak, and a fall of more than 56% compared with May 2007, in those heady days before the credit crunch. Homes hit as lenders slash valuesDate: 06/30/2008 Borrowers are being forced to stump up bigger deposits as valuers mark down their properties by as much as 30% 30-year loans still cheaper than a year agoDate: 06/29/2008 Fixed rates stable, ARM rates up on Fed uncertainty A housing-rescue bubbleDate: 06/29/2008 Congress hopes to pass a bill soon that aims to rescue enough at-risk homeowners to put a price floor under a collapsing housing market. In theory, everyone benefits. In practice, well, the rescue plan itself might end up needing a rescue, at taxpayers' expense. Homes hit as lenders slash valuesDate: 06/29/2008 Borrowers are being forced to stump up bigger deposits as valuers mark down their properties by as much as 30% Speed of price correction is 'almost unprecedented'Date: 06/28/2008 USC economists present some bad news, some better news 30-year mortgage loans still cheaper than a year agoDate: 06/26/2008 Fixed rates stable, ARM rates up on Fed uncertainty Why prices are slippery on the way downDate: 06/25/2008 Foreclosures in 'exurbs' weigh on Case-Shiller indices Rediscovering the American DreamDate: 06/24/2008 Perspective: A plan to restore home ownership's glory days Harvard study: Housing slump worst in 50 yearsDate: 06/23/2008 Growth in households to drive recovery No-recession forecast hinges on unemployment dataDate: 06/19/2008 UCLA report anticipates 25-30% home-price drop REO sales high in CaliforniaDate: 06/19/2008 California home sales mixed by region; prices post record declines Lenders promise streamlined workoutsDate: 06/19/2008 HOPE NOW coalition services most mortgages Long-Term Interest Rates Hit Highest Point since Last OctoberDate: 06/19/2008 "Mortgage rates jumped this week after a number of Federal Reserve (Fed) officials, most notably Chairman Bernanke and Vice Chair Kohn, expressed concern over a threat of inflation," said Frank Nothaft, Freddie Mac vice president and chief economist Did the Fed go too far?Date: 06/19/2008 With Ben Bernanke & Co. likely to keep rates steady at next week's meeting, some argue the economy is worse off because of the Fed's previous big rate cuts. Bond yields spiking on inflation fearsDate: 06/19/2008 Only a few weeks ago, the 10-Year Treasury yielded 4%. Now yields are up to nearly 4.25%. How much higher will yields climb? Clock ticking again on seller-funded down paymentsDate: 06/18/2008 HUD taking comments on FHA rule change until Aug. 15 FHA waives 90-day waiting period for resalesDate: 06/17/2008 In an attempt to help lenders speed the process of getting real estate-owned properties off their books, the Federal Housing Administration will temporarily lift a 90-day waiting period for property resales financed by FHA-guaranteed loans Lawsuit challenges real estate auctionsDate: 06/17/2008 Complaint targets auction, mortgage and title companies Fed foolish to raise rates nowDate: 06/13/2008 In the last bad oil/inflation/housing wreck, 1979-82, the Fed did tighten (prime to 22 percent) into a contracting economy (unemployment to 11 percent), into the worst housing recession since the '30s (mortgages 18 percent), and into the insolvency of the S&L system -- all to break inflation running at 12 percent. The economy survived. Sort of. Realtors, mortgage bankers at odds over packagingDate: 06/12/2008 A proposal to relax federal regulations to encourage the packaging of settlement services like title insurance with mortgage loans is either anticompetitive or doesn't go far enough -- depending on who's weighing in. HUD again seeks end to seller-funded loansDate: 06/11/2008 The Bush administration is again moving forward with a proposal to ban seller-funded down-payment assistance for FHA-backed loans, reopening the public comment period on the plan for 60 days. The Department of Housing and Urban Development was forced to reopen an administrative proceeding on the rule change after a judge ruled it did not adequately explain its reasons for reversing past policy on seller-funded loans -- a practice it defended as recently as 2005. Commercial Mortgage-Backed Securities Prices Reflect Irrational FearsDate: 06/11/2008 A study commissioned by the Commercial Mortgage loan Securities Association (CMSA) presents new data on the mispricing of commercial mortgage-backed securities (CMBS) compared to their fair value and returns relative to risk profile Many opt for FHA loans this quarterDate: 06/11/2008 Smaller down payments appeal to borrowers NAR: HUD underestimates RESPA reform costDate: 06/10/2008 A study funded by the National Association of Realtors claims proposed changes to loan disclosures could add more than $400 to the cost of obtaining a mortgage, wiping out much of the cost savings regulators say consumers would realize. Retail Sales Probably Increased in May: U.S. Economy PreviewDate: 06/08/2008 Sales at U.S. retailers probably rose in May as Americans started spending tax rebate checks and record gas prices inflated service-station receipts, economists said before reports this week. Most Mortgage Rates Increase During Wild Week in Financial MarketsDate: 06/07/2008 Mortgage Loan interest rates increased during the week ended March 13, in some cases more than wiping out the substantial declines reported for the week ended March 6. Jobless rate leaps to 3-1/2 year high in MayDate: 06/07/2008 The jump in the monthly jobless rate was the biggest in 22 years. Together with a whopping surge in oil prices and a flare-up in Mideast tensions, it renewed fears the U.S. economy was at growing risk of sliding into recession Foreclosures are NOT bargainsDate: 06/05/2008 Radio ads, printed ads, Web sites, news broadcasts and television shows give consumers the message that they can find bargains or even achieve wealth by purchasing bank-owned homes. Media hype is all around and in my market we even have bus tours of foreclosed homes. Developer offers two-for-one house deal...Buy one Get one Free!!!Date: 06/04/2008 Promotion extended through end of June Complex mortgage loans more costly for borrowersDate: 06/03/2008 HUD: Closing costs study validates RESPA reform April sees record mortgage loan workouts.Date: 06/01/2008 HOPE NOW program breaks 1.5 million mark... Lousy numbers escape recession dunce cap.Date: 05/31/2008 Global economy gives us a jolt! Higher rates choke home loan appsDate: 05/29/2008 Survey: Costs on ARM loans post largest gains New Home Sales See Slight ImprovementDate: 05/29/2008 The U.S. Census Bureau and the Department of Housing and Urban Development announced today that sales of new, single-family homes saw an increase of 3.3 percent in April 2008 when compared with March's numbers. FHA loans make comebackDate: 05/29/2008 Many first-time buyers qualify with lower credit score, smaller down payment California median home price falls 32%Date: 05/28/2008 Report: Values decline by double digits in all regions tracked FHA Loans~First-Timer Mortgage LoansDate: 05/26/2008 If you’re a first-time home buyer or a buyer with a tarnished credit rating, check out the Federal Housing Administration’s home mortgage loan program... The Advantages of FHA LoansDate: 05/26/2008 In many regions of the U.S., FHA loans have not been utilized for years, so a lot of real estate agents and mortgage originators aren’t familiar with this great resource. The following are a just a few of the recent changes that have made FHA loans a more attractive option again for some consumers looking to buy a new home or refinance an existing one: Overnight real estate rates drift higherDate: 05/23/2008 30-year fixed rate at 5.74%; 10-year Treasury yield at 3.81% Housing stars in economic freak showDate: 05/23/2008 Time running out for fix Jumbo conforming rates come down to earthDate: 05/23/2008 GSEs, NAR urge extension of higher limits Rate gains slow refis, home purchasesDate: 05/22/2008 Survey: ARM share increases despite higher loan fees Freddie Mac: Rates drop on 30-year mortgage loansDate: 05/22/2008 Possible end to Fed rate cuts impacts adjustable mortgage loans Economists Look to FOMC Minutes for Rate DirectionDate: 05/21/2008 After the FOMC cut rates 25 bps to 2.00% on April 30 and signalled a pause in monetary policy loosening, economists will be attentive to any commentary explaining the short- and long-term inflation outlook in the United States in the release of the FOMC's minutes on Wednesday. Market bottom exists -- how to get thereDate: 05/20/2008 Guest perspective: No real estate death spiral here Fannie Mae ditching declining-market policyDate: 05/17/2008 Fannie Mae is scrapping a "declining markets" policy that required loan underwriters to boost minimum down-payment requirements by 5 percent in areas where home prices are falling or difficult to determine. Rates dip on 30-year mortgage loansDate: 05/17/2008 Expectation that inflation will moderate keeps rates from rising U.S. Economy: Confidence Slumps, Single-Family Home Starts FallDate: 05/17/2008 U.S. consumer confidence was the weakest this month since Jimmy Carter was president, and single- family home construction fell to a 17-year low in April. Home construction picks up in AprilDate: 05/16/2008 Although building permits and housing starts increased between March and April they were still significantly lower than a year ago, according to a government report released today. Foreclosure Activity Up 65 Percent From April 2007Date: 05/14/2008 RealtyTrac® released its April 2008 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 243,353 properties, a 4 percent increase from the previous month and a nearly 65 percent increase from April 2007. The report also shows one in every 519 U.S. households received a foreclosure filing during the month. Senate considers $300 billion FHA expansion planDate: 05/13/2008 The fate of a plan to authorize the Federal Housing Administration to guarantee up to $300 billion in loans to help troubled borrowers refinance into more affordable mortgage loans could be decided Thursday by members of the Senate Banking Committee. Mortgage Loan rates end night higherDate: 05/13/2008 30-year fixed rate at 5.74%; 10-year Treasury yield at 3.8% FHA premiums to be based on risk Pricing plan coincides with FHA expansionDate: 05/12/2008 The Bush administration proposes to implement "risk-based" pricing of premiums paid by borrowers with government-backed loans beginning July 14 -- the same day guidelines for FHA loan guarantee programs are to be expanded to serve more delinquent borrowers. Freddie Mac: Rates lower on 30-year mortgagesDate: 05/08/2008 Long-term mortgage rates ended the week mixed, Freddie Mac reported today, with the 30-year fixed-rate average sinking slightly. Fed's Bernanke Says Impossible to Tell When Markets Will NormalizeDate: 05/05/2008 In a letter to U.S. Senator Chris Dodd, Fed Chairman Ben Bernanke said it is impossible to tell when markets will normalize and that the Fed is constantly reviewing its monetary policy tools to make them more effective. Many U.S. homes now cheaper per square footDate: 05/05/2008 The price per square foot of homes declined in 22 of 25 U.S. metro areas tracked in a February price index compared to the same month last year, real estate data and analytics company Radar Logic reported today. $300 billion FHA refi plan headed for House voteDate: 05/02/2008 A plan to allow the Federal Housing Administration to help refinance up to 2 million troubled mortgages is headed for a vote in the House of Representatives, after receiving limited bipartisan support in a committee vote Thursday. Real estate rates fall overnightDate: 05/02/2008 30-year fixed rate at 5.72%; 10-year Treasury yield at 3.76% House Committee Aproves FHA "Short Pay" LoansDate: 05/02/2008 A key committee in the House of Representatives late Thursday passed legislation that would make up to $300 billion in federally insured mortgages available to borrowers facing foreclosure. Give homeowners incentive to stayDate: 04/29/2008 Guest perspective: Crisis presents opportunity for permanent affordable housing New-home sales hit 13-year lowDate: 04/29/2008 At February's sales pace, inventory would take 9.8 months to deplete Consumers lose confidence in economic turnaroundDate: 04/29/2008 Consumer confidence deteriorated further in April as weak business and job conditions and rising food and gas prices force Americans to tighten their spending, The Conference Board reported today. Fed poised to cut Mortgage Loan rates; may take a break after thatDate: 04/28/2008 Battling risky economic crosscurrents, the Federal Reserve is ready to bump down a key interest rate again to brace the wobbly economy. That rate cut could turn out to be the last one for a while as zooming energy and food prices heighten inflation concerns. NAR considers new short-sale disclosure rulesDate: 04/24/2008 In response to the rising tide of short-sale properties and foreclosures, a National Association of Realtors committee that meets next month is expected to consider new rules to better describe the status of properties in Realtor-affiliated multiple listing services. Mortgage Loan rates higher on inflation jitters Freddie Mac: Next Fed rate cut expected to be smallerDate: 04/24/2008 Worries about inflation pushed mortgage loan rates up this week, Freddie Mac reported today. Nightly real estate rates still climbingDate: 04/22/2008 30-year fixed rate at 5.9%; 10-year Treasury yield at 3.71% Worst part of credit crunch far from overDate: 04/19/2008 Psychology on Wall Street changed completely this week, to economic optimism and concern for inflation, and assumption that the Fed is done with rate cuts or will be shortly. Low-fee fixed mortgages are 6.375 percent, jumping with all interest rates, long and short. The Fed-forecasting 2-year T-note has soared from 1.7 percent to 2.24 percent. Freddie Mac: Mortgage rates flat this weekDate: 04/17/2008 Long-term mortgage rates barely budged this week, mirroring last week's activity, Freddie Mac reported today. Fannie, Freddie regulator sees more risk aheadDate: 04/15/2008 The unsettled U.S. mortgage loan and housing markets mean that Fannie Mae (FNM.N: Quote, Profile, Research) and Freddie Mac (FRE.N: Quote, Profile, Research) remain exposed to serious risks, their federal regulator said on Tuesday Southern California home sales log tepid gainDate: 04/15/2008 Southern California's seasonal boost in home sales between February and March was less than half its normal level and a record low, and median prices of sales took a dive, according to a report today from data provider DataQuick Information Systems Why the Role of Mortgage Brokers is CrucialDate: 04/14/2008 Mortgage brokers find the best buyer for the lenders and search the best lenders for the buyers from the buyer's perspective, thus acting as a bridge between the two parties and remain an important part till the whole processes over. Mortgage brokers have the knowledge, expertise, experience and expanding network to fulfill the demand of the customers REO’s Up Nearly 71%Date: 04/14/2008 Lenders repossessed nearly 3 of every 1,000 households nationwide this year as a result of foreclosures. That’s up 70.6% from 1.7 of every 1,000 households 1st quarter 2007 and from 2.7 per 1,000 in 4th quarter 2007, according to California-based ForeclosureS.com, foreclosure information specialists. Overnight interest rates riseDate: 04/09/2008 Long-term mortgage interest rates increased Monday, and the benchmark 10-year Treasury bond yield also increased to 3.54 percent. Stocks Higher After Bernanke TestimonyDate: 04/04/2008 Stocks managed to notch a modest gain Thursday, with Wall Street cautious ahead of Friday's jobs report but hopeful that the global financial system is on the mend. America's Riskiest Real Estate MarketsDate: 04/04/2008 There's roulette and there's skydiving. Then there's investing in Detroit and Cleveland real estate. Fed rate cut ideas up on weak jobsDate: 04/04/2008 U.S. short-term interest rate futures rose on Friday on news that U.S. firms cut payrolls for a third consecutive month, as dealers raised bets that the Federal Reserve will make an aggressive interest rate cut this month and beyond. The Day Ahead: ADP Employment Change, Fed's Bernanke TestifiesDate: 04/02/2008 On Wednesday, U.S. data Federal Reserve Chairman Ben Bernanke takes centre stage when he testifies before the Joint Economic Committee. In the U.S., data markets will receive the ADP employment report for March and in Canada, BOC Deputy Governor Paul Jenkins is scheduled to speak. Senator Hillary Clinton's Housing PlanDate: 04/02/2008 Each of the three possible candidates for nomination as their party's presidential nominee has made major speeches recently spotlighting their solutions to the housing and subprime mortgage loan crisis. Plan to Help Homeowners Gains SteamDate: 03/31/2008 Federal housing agencies are moving closer to a possible plan to help homeowners caught between rising interest rates on their mortgages and falling home prices that preclude selling or refinancing to pay off those debts, officials said Saturday. Consumers, inflation weaken as slowdown drags onDate: 03/28/2008 Consumer confidence fell further into recessionary territory in March, hitting a 16-year low, even as other data showed incomes rose and inflation dipped in February, which should support the Fed's efforts to bolster the economy Bank of America to pay mortgage Loan head more than CEO got in '07Date: 03/28/2008 Bank of America Corp agreed to pay David Sambol, COO of takeover target Countrywide Corp, more than its own CEO received in 2007 to encourage him to lead the bank's consumer mortgage business. Real estate mortgage loan rates increase overnightDate: 03/28/2008 Long-term mortgage loan interest rates were up Thursday, and the benchmark 10-year Treasury bond yield climbed to 3.53 percent. Mortgage refinancing applications surge Here's what you should know before jumping inDate: 03/27/2008 Applications filed to refinance existing mortgages increased 82.2% on a week-to-week basis, according to the MBA's weekly survey. Filings for mortgages to buy homes also rose, up a seasonally adjusted 10.6% New-home sales slowest in 13 years, durables downDate: 03/26/2008 Sales of new U.S. single-family homes fell to the slowest pace in 13 years while orders for durable goods tumbled unexpectedly last month, according to government data that added to signs the economy has stalled. California housing market sees more declinesDate: 03/25/2008 California home sales decreased 28.5 percent in February compared with the same period a year ago, while the median price of an existing home fell 26.2 percent, the California Association of Realtors reported today. Nightly Mortgage Loan rates lowerDate: 03/21/2008 Long-term mortgage interest rates fell Thursday, and the benchmark 10-year Treasury bond yield dropped to 3.33 percent. Nightly real estate rates tumbleDate: 03/19/2008 Long-term mortgage interest rates were down again Monday, and the benchmark 10-year Treasury bond yield sank to 3.31 percent. Despite Fed's action, mortgage rates not dropping: Fed's cuts haven't reduced rates on home mortgage...Date: 03/19/2008 South Floridians are inundating lenders and mortgage brokers with requests to lower their house payments, reacting to the Federal Reserve's recent interest-rate cuts. Jumbo-conforming' rules could trip up homeownersDate: 03/19/2008 You might be disappointed if you planned to refinance your mortgage under the new "jumbo-conforming" limits. The requirements are stringent, and they might leave some would-be borrowers out. Fed set for big rate cut amid market turmoilDate: 03/18/2008 The U.S. Federal Reserve is expected to slash interest rates by as much as a whole perc |