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Current NewsThe following is a list of our recent news articles. Refinancing rise in second quarterDate: 07/29/2010 Freddie Mac 22% of borrowers lower debt by bringing cash to the closing table. Mortgage Rates Fall, Extend Record LowsDate: 07/28/2010 Mortgage rates fell in the past week, with the average rates on 30- and 15-year fixed-rate mortgages further extending record lows, according to Freddie Mac's weekly survey. 1-in-13 skip O.C. mortgage paymentsDate: 07/21/2010 According to CoreLogic's latest late-mortgage report, 7.69% of Orange County home-loan borrowers — roughly 1-in-13 — are 90 days-plus late with their house payments as of May. That's +1.64 percentage points vs. a year ago. O.C. rent cuts triple U.S. declinesDate: 07/21/2010 Apartment tracker Reis Inc. shows Orange County renters enjoying some of the fattest rent cuts in the nation. Mortgage rates register new lowsDate: 07/08/2010 Mortgage rates hit new lows again this week, with the 30-year fixed-rate mortgage averaging 4.57 percent with an average 0.7 point for the week ending July 8, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey. Mortgage Bonds BoomingDate: 07/02/2010 Residential mortgage bonds, the center of the financial crisis not long ago, are once again darlings of the financial market. Mortgage rates tumble to new lowsDate: 07/01/2010 Rates on three of four types of mortgages tracked in Freddie Mac's weekly rate survey hit new records for the second week in a row, with 30-year fixed-rate mortgages averaging 4.58 percent with an average of 0.7 point during the week ending July 1. Extension of Homebuyer Tax Credit Closing DeadlineDate: 06/30/2010 The Tax Extenders Bill, which also contains legislation to extend unemployment benefits for out of work Americans, has been repeatedly voted down by Senators who refuse to add more debt to the budget deficit, and now it appears the bill will not be revisited until after the 4th of July recess! 2nd Half: Slowdown or Double-Dip?Date: 06/30/2010 No one has a crystal ball, but it appears the U.S. economy will slow in the 2nd half of 2010. Owners Stop Paying Mortgages, and Stop FrettingDate: 05/31/2010 For Alex Pemberton and Susan Reboyras, foreclosure is becoming a way of life — something they did not want but are in no hurry to get out of. The Refinancing Dilemma: Should I Do It?Date: 04/23/2010 Did you miss the super-low-mortgage-rates boat? Why Can't I get a Mortgage?Date: 04/23/2010 As banks report robust earnings, some consumers are starting to wonder: Why is it so hard to get a mortgage? In Sour Home Market, Buying Often Beats RentingDate: 04/23/2010 In much of the country, for much of the last decade, renting a home has usually been a better financial move than buying one. It’s been true in Southern California, San Francisco, Phoenix, Las Vegas and large parts of Florida, the Pacific Northwest and the Northeast. The Going Gets TougherDate: 04/23/2010 THOUGH the economy appears to be stabilizing, the market for financing remains tight. Obama Urges Support for Financial Reform LegislationDate: 04/23/2010 President Barack Obama, speaking today at New York’s Cooper Union college, said the US financial system failed in the years running up to the current economic recession. He urged a broad-based cooperation in bringing about financial regulatory reform legislation like the bills making their way through the US House of Representatives and Senate. Don’t Bet the Farm on the Housing RecoveryDate: 04/12/2010 MUCH hope has been pinned on the recovery in home prices that began about a year ago. Consumers in U.S. Face the End of an Era of Cheap CreditDate: 04/11/2010 Even as prospects for the American economy brighten, consumers are about to face a new financial burden: a sustained period of rising interest rates. Will higher rates halt housing recovery?Date: 04/11/2010 Real estate agent Thalia Tringo was not stashing eggs over Easter. She spent the weekend showing homes in the Cambridge area. Yes, she has been busy lately, and a couple of factors may help explain why. Freddie Mac Mortgage Rates Continue Climb for Fourth WeekDate: 04/09/2010 In the wake of the end to the Fed’s $1.25trn mortgage-backed securities (MBS) purchase program, mortgage rates jumped in two weekly surveys. Fixed-Mortgage Rates Jump for WeekDate: 04/08/2010 Mortgage rates rose for fixed loans the past week, with the average rate on 30-year fixed-rate mortgages increasing to 5.08%, though adjustable-rate loans saw lower rates, according to Freddie Mac's weekly survey of mortgage rates. It's Looking Like the Year of the Short SaleDate: 04/08/2010 Short sales – when a lender sells a property for less than the full amount owed on the mortgage are notorious Mortgage loan Increases BluntedDate: 04/07/2010 The struggling housing market appears as if it will sustain less damage than expected this year from a spike in the monthly payments on hundreds of thousands of exotic adjustable-rate mortgages. California Home Prices Head HigherDate: 04/07/2010 The California housing market is showing more signs of stabilization—at least for now—as sales of bank-owned and bargain-basement homes in inland areas partially give way to sales of costlier homes toward the coast, according to a new report. Mortgage Increases BluntedDate: 04/06/2010 The struggling housing market appears as if it will sustain less damage than expected this year from a spike in the monthly payments on hundreds of thousands of exotic adjustable-rate mortgages. Interest-Rate Party Is Not Over Yet For Wall StreetDate: 03/26/2010 The stock market has shown it can overcome growing concerns over China's monetary and trade policies, European sovereign debt worries, uncertainty about financial regulation and even overbought conditions. Now there's nothing left to stop the "exceptionally low" interest-rate gravy train, at least for the next several weeks. Mortgage Rates Edge UpDate: 03/26/2010 Mortgage rates rose slightly this week, with the average rate on 30-year fixed-rate mortgages edging closer to 5%, according to Freddie Mac's weekly survey. Supply of Foreclosed Homes on the Rise AgainDate: 03/26/2010 The supply of foreclosed homes that banks need to sell is rising again, signaling further downward pressure on home prices in some parts of the U.S. Bernanke Edges Toward Asset SalesDate: 03/26/2010 Federal Reserve Chairman Ben Bernanke nudged the U.S. central bank Thursday toward gradually selling some of its $1.25 trillion portfolio of mortgage securities, an idea he had been lukewarm about before. Mortgage Rates Go From 2010 Lows to 2010 Highs in One DayDate: 03/25/2010 Over the past two days benchmark Treasury yields and MBS prices have barely budged from a tight trading range. Trading has been very slow as market participants have been unmotivated by recent headline news developments and a generally slow economic calendar. Nabbing a Bargain-Basement Mortgage Before Rates RiseDate: 03/25/2010 Is it time to rush out and buy a house before mortgage rates go up? Mortgage delinquencies at historic highsDate: 03/16/2010 The state of the housing market has long reached a point where it's good news to hear, "It's not getting worse." Unfortunately, according to a firm that tracks borrowers behind on their mortgages, you can conclude at best, "It's getting worse, but less quickly. Freddie Says Mortgage Rates Dip Below 5%Date: 03/05/2010 Mortgage rates were down in two weekly surveys, and in Freddie Mac’s rates dipped below 5%. Borrowers Miss Out on Billions in SavingsDate: 03/03/2010 The Federal Reserve has pushed mortgage rates to near half-century lows, but millions of U.S. homeowners haven't benefited from that because they can't—or won't—refinance. Fannie, Freddie and FHA REO InventoryDate: 03/01/2010 Even with all the delays in foreclosure, the REO inventory has increased sharply over the last two quarters, from 135,868 at the end of Q2 2009, to 153,007 in Q3 2009, and 172,357 at the end of Q4 2009. Foreclosures now are just ‘tip of the iceberg’Date: 03/01/2010 Despite some reports that suggest the housing crisis may be hitting bottom, foreclosures so far represent the “tip of the iceberg,” real estate analyst, investor and lender Bruce Norris says. Loan Modifications and Mortgage Modifications Can They Affect Your Credit Score.Date: 12/02/2009 Loan Modifications and Mortgage Modifications are being sold like they are going out of fashion and both the Government and private banks are reporting successes in the number of loan modifications and mortgage modifications processed. Loan Modification Alternatives: Short Sale Your HomeDate: 11/24/2009 Short Selling your home could be the win-win-win alternative to loan modifications. 1 in 4 Borrowers Under WaterDate: 11/24/2009 The proportion of U.S. homeowners who owe more on their mortgages than the properties are worth has swelled to about 23%, threatening prospects for a sustained housing recovery. Distressed Homeowners Ponder Whether to Stay or Go.Date: 11/24/2009 Brian Gindlesperger says he has never been late on a mortgage payment and considers paying off his loan "the right thing to do." But as the value of his home continues to fall, he is starting to wonder whether paying his debt is the smartest thing to do. O.C. has 3rd worst U.S. home affordabilityDate: 11/23/2009 Orange County housing affordability was 3rd worst in the nation in the third quarter, according to the latest National Association of Home Builders/Wells Fargo “Housing Opportunity Index.” Bear Stearns, Lehman Execs Kept Billions . . .Date: 11/23/2009 Everyone knows that senior execs at Bear Stearns and Lehman Brothers were paid largely in stock, and that they lost most of their wealth when the companies collapsed, right? Back in the USSADate: 11/23/2009 Ahhh, its good to be back in the USSA (United States Socialists of America), where profits are private but all the risks are socialized! The worst is yet to come: Unemployed Americans should hunker down for more job lossesDate: 11/20/2009 Think the worst is over? Wrong. Conditions in the U.S. labor markets are awful and worsening. While the official unemployment rate is already 10.2% and another 200,000 jobs were lost in October, when you include discouraged workers and partially employed workers the figure is a whopping 17.5%. Details on the Home Buyer Tax Credit ExtensionDate: 11/20/2009 Home sales got a needed boost because of the Obama administration’s $8,000 tax credit for first-time buyers. Unemployment RateDate: 11/07/2009 First Time Homebuyer Tax Credit Extended Into 2010! Plus. A New Tax Credit for Certain Existing Home Owners!Date: 11/06/2009 It's official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009. O.C. late mortgage rate rises faster than Calif., U.S.Date: 11/05/2009 As of August, 6.85% of mortgage borrowers in Orange County were 90 days or more delinquent on their loans. Extending lending limits in CA for Fannie Mae, Freddie Mae and FHA loans through 2010Date: 11/01/2009 President Obama is expected to sign a resolution passed late yesterday by Congress extending the current limits for Fannie Mae, Freddie Mac, and FHA loans through 2010. Current Mortgage Rates Up – Current 30-yr Mortgage Rate Approaching 5 PercentDate: 10/15/2009 The benchmark yield, down over 2 percent overall yesterday, is back up over 2 percent today and at 3.38 percent. The Housing Tax CreditDate: 10/08/2009 Extending the credit through Nov. 30, 2010 and making it available to all purchasers of a principal residence would result in an additional 383,000 home sales ... Mortgage applications up again as average 30-year rates stay below 5%Date: 10/08/2009 The ups and downs of the mortgage business continue -- these days, with some benefit for consumers. A Simple Explanation Of The Federal Reserve Statement (September 23, 2009 Edition)Date: 09/23/2009 The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. Homebuyer Tax-Credit Extension Gains Lawmaker SupporDate: 09/17/2009 An extension of the $8,000 U.S. homebuyer tax credit is gaining support in the Senate as bill sponsor John Isakson said he is rallying lawmakers to continue a program that helped boost home sales by more than 1 million. California Foreclosure Filings Drop 19%: ForeclosureRadarDate: 09/17/2009 In August, California foreclosure filings fell from both the previous month and the same time in 2008 as the Home Affordable Modification Program (HAMP) picks up steam, according to a report from ForeclosureRadar. Seven New Rules for the First-Time Home BuyerDate: 09/17/2009 Too many people bought too much house for too many years. Fewer Catching Up on Lapsed Mortgages ArticleDate: 08/25/2009 Homeowners who fall behind on their mortgage payments have become much less likely to catch up again, a new study shows. Jobless Claims Post IncreaseDate: 08/14/2009 More Americans than forecast filed claims for unemployment insurance last week, the Labor Department said Thursday, underscoring the threat to spending from the continued deterioration in the job market. Fed Views Recession as Near an EndDate: 08/13/2009 Almost exactly two years after it embarked on what was the biggest financial rescue in American history, the Federal Reserve said on Wednesday that the recession is ending and that it would take a step back toward normal policy. Banks slow to modify mortgages, Treasury reportsDate: 08/05/2009 Only 9% of eligible home loans have been changed under the Obama program. BofA and Wells Fargo, which participated even less, say the report doesn't reflect modifications made outside the plan Bernanke says the U.S. economy has 'a very long haul' aheadDate: 07/28/2009 Federal Reserve Chairman Ben S. Bernanke, offering a more hopeful outlook on the grim jobs picture than many economists, projected that the U.S. unemployment rate would peak at the end of this year. New-Home Sales Jump as Prices Fall SharplyDate: 07/27/2009 Sales of new homes in the United States posted their largest monthly gain in nearly eight years in June, the government reported on Monday, a sign that the housing market is bottoming as buyers take advantage of lower prices. Avoid Foreclosure, There Is Always HOPEDate: 07/27/2009 There are few things scarier than losing your home and seeing your family on the street. Home Prices Fall 19% Toward a 2010 BottomDate: 07/26/2009 Single-family home prices dropped 19% over the 12-month period ending in March 2009 5 new tools for homebuyersDate: 07/24/2009 Homebuyers wondering what the future holds for their investment can turn to Cyberhomes for a market report. O.C. rents fall 4%, back to 2007 levelsDate: 07/15/2009 Apartment tracker Realfacts says that rents at large Orange County apartment complexes fell in the second quarter at a 4.1% annual rate. Another wave of foreclosures is poised to strikeDate: 07/05/2009 Mortgage defaults have surged to record levels amid rising unemployment and falling home prices. Lenders are expected to move quickly to clear up backlogs as moratoriums on foreclosures expire. Vacancies give renters room to negotiateDate: 07/05/2009 L.A. County's vacancy rate rose to 5.3% in the first quarter. As more Southland apartments go empty, property owners are more willing to negotiate lease details. U.S. home prices still falling, but not quite as steeplyDate: 07/05/2009 S & P/Case-Shiller index shows a decline of 18% in April from a year earlier. The January year-to-year drop was 19%. In the L.A. area, prices fell 21% from April to April; the January drop was 25%. So Many Foreclosures, So Little LogicDate: 07/05/2009 LAST week, the stock market tumbled on news that housing foreclosures and delinquencies rose again in the first quarter. Unemployment Forecast: Too Much "Hope"Date: 07/01/2009 A Forecast With Hope Built In New Report Links Foreclosures and HomelessnessDate: 07/01/2009 “Local reports indicate that homelessness is on the rise and this report [Foreclosure to Homelessness] gives us insight into the role that foreclosures may be having on that increase,” said Nan Roman, president of the National Alliance to End Homelessness. Plan to set up watchdog is first battle in long road to regulatory reform. Industry steps up efforts in opposition as administration releases legislation.Date: 07/01/2009 In the debate over how to prevent the next financial crisis, the first fight has already erupted -- and it's over a proposal to create a new agency to protect consumers. New home sales fall unexpectedlyDate: 07/01/2009 Sales ticked down 0.6% last month, down 32.8% from last year. Get your $8,000 HUD tax credit nowDate: 07/01/2009 HUD tweaked stimulus tax incentive so first-time home buyers get instant assistance with down payment and closing costs. Consumer confidence falls in JuneDate: 07/01/2009 After climbing for two months, the key index drops as more Americans say jobs are hard to find. F.H.A. Loans Help SalesDate: 06/30/2009 WHEN the credit markets snapped shut last year, getting a home mortgage became tricky business. The federal government stepped in to fill some of that void with loans insured by the Federal Housing Administration. The loans now make up nearly a quarter of the market, up from just 2 percent three years ago. No end to foreclosures is in sightDate: 06/30/2009 Even with the Obama administration's loan modification and refinancing programs moving forward, the end of the foreclosure glut is not around the corner, a panel of government officials and consumer advocates told attendees of the recent National Assn. of Real Estate Editors conference. Mortgage nightmare | HVCC appraisal regulationDate: 06/29/2009 The HVCC code of conduct is the result of a legal settlement with the attorney general of New York. California running out of $10,000 tax creditsDate: 06/16/2009 A boon for new homebuyers, scheduled to last through next March, will be out of money long before that. Are You Eligible for a Mortgage Modification?Date: 06/13/2009 TO find out if you are eligible for loan modification, run through the eligibility checklist on the Making Home Affordable Web site: http://makinghomeaffordable.gov/ Get Ready for Inflation and Higher Interest RatesDate: 06/13/2009 The unprecedented expansion of the money supply could make the '70s look benign. Is tax credit giving builders a boost?Date: 06/13/2009 CEO of the Orange County Building Industry Association, says that an 85% jump in new home sales since February shows that a homebuyer tax credit is reviving the new-home market, even though sales are lower than they were a year ago. O.C. mortgage rates easeDate: 06/13/2009 Tiffany Taylor, of Platinum Funding in Irvine, said mortgage rates dipped today in Orange County, but, “they have increased by over 3/4 of a percent in the past two weeks. After today, they remain 1/2 of a percent over the low point two weeks ago.” Long-term unemployment woes increasing rate prime mortgage foreclosuresDate: 06/12/2009 As the unemployment rate continues to grow it is hitting an increasing number of people who had prime mortgages. Fed Still on MBS Buying SpreeDate: 06/12/2009 The Fed continues to purchase large volumes of mortgage-backed securities (MBS) from government-sponsored enterprises. Two more years of home-price declines?Date: 06/12/2009 Yale economics professor Robert Shiller said in a recent New York Times op-ed piece that despite recent upticks, more home-price drops and price stagnation are likely to continue through 2010 and possibly into 2011. California 50 days from government meltdownDate: 06/11/2009 California has 50 days until the government melts down under the pressure of the $24.3 billion budget gap. OBAMA’S MORTGAGE RESCUE PLAN IS A FAILUREDate: 06/10/2009 The data for April and May prove that Obama’s plan to rescue those facing mortgage foreclosure is a dismal failure. Since this issue was the cornerstone of his economic program during the campaign, its abject failure is a significant setback for the Administration’s economic plan. US long-term interest rates hit highDate: 06/10/2009 US long-term interest rates rose to the highest level of the year on Wednesday, threatening the “green shoots” of recovery, after the latest sale of 10-year government debt met with a tepid response from inflation-wary investors. Freddie Alters Relief Refinance TermsDate: 06/09/2009 In attempt to further the success of President Obama’s Making Home Affordable Program, Freddie Mac (FRE: 0.73 0.00%) today announced a number of changes to its refinance offering under the program. When Will Mortgage Rates Stop Rising?Date: 06/09/2009 When will rates stop their climb? Not on Monday, apparently. Mortgage Rates Move HigherDate: 06/08/2009 Mortgage rates soared higher last week, with the average 30-year fixed mortgage rate rising to 5.65 percent. According to Bankrate.com’s weekly national survey, the average 30-year fixed mortgage has an average of 0.44 discount and origination points. Spread Between 30-yr & 15-yr SoarsDate: 06/05/2009 Average 30-year 5.29% It's a Mod, Mod WorldDate: 06/05/2009 Recent loan modification activity Southern California property values sink below historic normsDate: 06/05/2009 IHS Global Insight says Los Angeles County home prices are now 6% undervalued. But ongoing foreclosures and economic woes mean the market bottom may not yet have been reached. Home buyers' tax credit can be turned into cash at closingDate: 06/05/2009 Buyers who use FHA financing soon will be able to use their $8,000 tax credits for settlement fees, escrow charges, higher down payments or to "buy down" the interest rate. Home loan applications fall 16%Date: 06/05/2009 As interest rates rose last week, fewer people sought to refinance, a Mortgage Bankers Assn. survey showed. O.C. mortgage rates jump againDate: 06/04/2009 Mortgage rates have bounced around the past two weeks, with brokers in Orange County quoting rates today in the range of 5% to 5.6% The $4 trillion housing headacheDate: 06/02/2009 House prices have returned to 2002 levels, but mortgage debt hasn't deflated from its bubbly highs. HUD tweaked stimulus tax incentive so first-time home buyers get instant assistance with down payment and closing costs.Date: 05/30/2009 First-time homebuyers will now have access to quick cash to help them with their down payments. Mortgage Rates Surge, Sap HopesDate: 05/29/2009 Home-mortgage rates have surged to their highest level in more than three months, threatening prospects for quick rebounds in the housing market and consumer spending. Freddie MacHome Price Declines on the SlowdownDate: 05/29/2009 While home values continue to fall, the rate of price depreciation has moderated in all nine regions of the US, Freddie Mac (FRE: 0.78 -4.88%) says in a report released today. Bond Yields Drive Mortgage Rates UpDate: 05/29/2009 After dipping last week, long-term mortgage rates climbed in the week ending May 28, following long-term bond yields higher as financial markets tried to discern the state of the economy, said Freddie Mac ([1] FRE: 0.78 -4.88%) today. Refinance Applications DiveDate: 05/29/2009 On the heels of home price declines, total mortgage applications sit 28.5% above the same week last year, even as the weekly momentum of refinance applications slips, according to a weekly survey released Wednesday by the Mortgage Bankers Association (MBA). Mortgage rates staying above 5%Date: 05/29/2009 Interest rates have risen above 5% and are unlikely to fall again soon Low-End Sales Rocket in CaliforniaDate: 05/29/2009 With almost a 50% increase in year-over-year sales, the inventory of unsold existing single-family homes for sale in California has been cut in half, from a 9.8 months' supply in April 2008 to 4.6 months' supply this April, the state's Realtors reported Mortgage Rates Stabilize….Starting to Move LowerDate: 05/29/2009 After a brutal beat down on Wednesday, mortgage-backed securities managed to recapture some of those losses yesterday. O.C. mortgage rates above 5% and climbingDate: 05/28/2009 Brokers say rates on fixed-rate mortgages in Orange County jumped above 5% today, as investors see the economic downturn easing and worries turn to inflation. Higher rates could postpone a housing recovery, brokers say. U.S. home prices fall 19.1% in first quarterDate: 05/27/2009 Los Angeles-area prices are down 41% from their 2006 peak. Phoenix shows the most severe decline, 53%. Sellers need to get realistic about what their homes are worthDate: 05/27/2009 Government figures show that prices are still in retreat around the country and may have to fall further before the market reaches equilibrium. 1-in-4 O.C. home buyers use federal loan programDate: 05/27/2009 For the past five months, roughly one out of every four home buyers in Orange County used a federally run loan insurance program that was practically nonexistent here two years ago. $8,000 fast cash for first-time homebuyersDate: 05/22/2009 HUD plans to tweak $8,000 tax credit rules so first-time homebuyers can get instant down-payment assistance. Mortgage rates dip, remain above record lowsDate: 05/22/2009 Rates on 30-year mortgages inched downward this week, remaining below 5 percent for the tenth-consecutive week and just above record lows. Renewed HOPE for HomeownersDate: 05/22/2009 Congress passed a bill amending HOPE for Homeowners that may make the program more useful. Mortgage modifications are happening. Get yours!Date: 05/22/2009 The Obama administration's housing stabilization plan is underway and starting to have an impact. As of last week, Chase had modified 15,000 home loans. Treasury Dept. is giving 'cash-for-keys'Date: 05/22/2009 Adding to its mortgage rescue program, the government will now offer additional incentives to get troubled borrowers out of homes. California Housing Market.Date: 05/22/2009 As home sales increase due to pent up buyer demand in California, it's apparent the bottom of the market won't hit for some time yet. However, Housing Predictor projects the California housing market to be in a recovery by late summer. Congress Approves an Anti-Foreclosure BillDate: 05/20/2009 Congress on Tuesday sent the president legislation that encourages banks to spare homeowners from foreclosure, after the industry helped scuttle a tougher measure that would have forced lenders to reduce monthly payments of owners in bankruptcy Slow Start to Federal Plan for Modifying MortgagesDate: 05/14/2009 The Obama administration’s plan to help millions of troubled homeowners avoid foreclosure by reducing the size of their mortgage payments is just getting off the ground. Obama Adviser Sees Unemployment Rising Until 2010Date: 05/12/2009 President Obama’s chief economics forecaster said on Sunday that the nation’s unemployment rate was likely to keep rising until 2010, even if the economy begins growing later this year. U.S. unemployment rate rises to 8.9%Date: 05/09/2009 The pace of job losses slows in April, with 539,000 positions lost in comparison with 699,000 in March. But the job market is growing worse. Mortgage Rates Rise!Date: 05/08/2009 Average 30-year fixed-rate 4.84% New Troubles For A Troubled Washington Mortgage PlanDate: 05/08/2009 As the Obama administration attempts to turn around the beleaguered Hope for Homeowners program to fight foreclosures, it faces a nettlesome new headache. The primary lender involved is under investigation by the Department of Justice. Stress Tests End; Raising Money BeginsDate: 05/08/2009 Stress test results reveal nine of the nation’s 19 largest banks successfully endured the government’s testing and will not require any additional capital, while the other 10 banks must boost capital levels by a collective total of $74.6bn, in order to comply with government standards, said the Federal Reserve this afternoon. Senate Approves Measure to Reduce Home ForeclosuresDate: 05/07/2009 The Senate on Wednesday approved a bill that would expand federal efforts to prevent mortgage foreclosures, shield mortgage service companies from lawsuits if they participate in federal loan modification programs, and give renters of foreclosed properties at least 90 days’ notice before eviction. Fed to Begin Lending Program in JuneDate: 05/07/2009 Federal Reserve announced Friday that it would start a much-awaited program in June to encourage commercial real estate lending California had most subprime loans, study saysDate: 05/07/2009 California was the center of the mortgage meltdown that led to the nation's current economic crisis, as lenders in the state issued a majority of all recent subprime loans, says a nonprofit journalism group based in O.C. home values down 32% from peakDate: 05/06/2009 Orange County home values have dropped 32 % from their peak in the first quarter of 2006, when the median was $692,208, according to an analysis by online home sales tracker Zillow. Mortgage reduction bill fails in SenateDate: 05/06/2009 Banks lobbied heavily against the measure to help homeowners facing foreclosure. Where Home Prices Crashed Early, Signs of a ReboundDate: 05/06/2009 This city was among the first in the nation to fall victim to the real estate collapse. Now it seems to be in the earliest stages of a recovery, a hopeful sign for an economy mired in trouble and anxiety. Chaos in homeowner help planDate: 05/05/2009 Homeowners feel frustrated by the slow rollout of the Obama refinance plan Don't be afraid of hybrid ARMsDate: 05/05/2009 These types of adjustable-rate mortgages aren't nearly as risky as some other loans, and they can save you a substantial amount of money compared with conventional fixed-rate mortgages. Senate Rejects Mortgage 'Cramdowns' by JudgesDate: 05/02/2009 President Barack Obama lost his first big legislative fight Thursday when the Senate failed to pass a measure that would allow bankruptcy-court judges to reduce the value of some mortgages. Existing-Home Sales Rise for a Second MonthDate: 05/02/2009 Pending sales of previously owned homes rose for a second month in March, while construction spending edged higher, according to reports on Monday that suggested moderation in the long housing slump Fed Says U.S. Banks Expect Deepening of Loan LossesDate: 05/01/2009 Most U.S. banks expect loan delinquencies and losses to increase this year, a Federal Reserve report showed today before this week’s release of stress tests of the nation’s 19 largest lenders. 5 tips on buying a foreclosed homeDate: 05/01/2009 Sure, there are great real estate deals to be had, if you know what you're doing Obama offers help for second mortgagesDate: 04/30/2009 The Obama administration today unveiled a program to help homeowners with second mortgages by offering payments to the borrowers and their loan servicers for modifying loan terms. How Obama's anti-foreclosure plan worksDate: 04/25/2009 Struggling homeowners can start calling their lenders. President Obama's new effort to save families from foreclosure is up and running. O.C. home affordability back at 2001 levelDate: 04/14/2009 Our Housing Cycle Barometer for Orange County is currently 3.1 (out of 10), which puts current affordability at its best level since the first quarter of 2001. Here’s a comparison of those two time periods: Mortgage rates fall, set yet another recordDate: 04/14/2009 Rates on 30-year mortgages fell to the lowest level on record for the second consecutive week after the Federal Reserve launched a new effort to assist the staggering U.S. housing market. Obama urges millions to refinance mortgagesDate: 04/13/2009 People can really take advantage of this,’ president says of low rates Mortgage Rate May Fall to 4.2% By End of Year: EconomistsDate: 04/12/2009 The 30-year mortgage rate could fall to nearly 4 percent by the end of the year as both the economy and housing market make a slow recovery, Bank of America-Merrill Lynch said. Mortgage costs Rates are low, but expect to pay more fees for a mortgage todayDate: 04/11/2009 Mortgage rates are low, but getting them is going to cost you. FHA Apps JumpDate: 04/10/2009 Average 30-year 4.87% Signs of life emerging in housing sectorDate: 04/07/2009 Sales are picking up in some of the nation’s hardest-hit regions How to lock in the lowest mortgage rate in today's tough marketDate: 04/06/2009 The days of scoring a great loan despite having a modest amount of equity and so-so credit are over as lenders tighten their standards. That's why it's a good idea to shop around for offers. Housing Slump Makes For Buyer's MarketDate: 04/05/2009 One of the housing industry's benchmark indexes shows home prices dropped by 18 percent in October, the sharpest annual rate drop on record, Details of Recovery Initiative Provides Huge Refinance OpportunityDate: 04/05/2009 Many borrowers and originators have been anxious to take advantage of today's historically low rates for refinancing, only to be frustrated by lower home values combined with reduced loan to value options on many product offerings. The refinancing element of this plan allows for rate and term refinances to a 105% loan to value - here's the quick scoop. Home Prices: Low, But Still No BargainDate: 04/02/2009 Forget low mortgage rates and the buyer's market. Real-estate prices still have a long way to fall. Geithner’s plan leaves out key number: Size of the problemDate: 02/13/2009 The most important number not included in Mr. Geithner’s bailout plan has nothing to do with who gets how much. That is all just fine-tuning and clearly not a number Geithner & Co. have figured out yet. (Why release a plan before you have figured that out? I dunno either.) The most important number not included in the bailout plan is one he knows and isn’t telling: How big is the problem? The Stimulus Package Helps More Than Just First-Time Home Buyers!Date: 02/13/2009 With Congress reaching agreement on a $789 billion stimulus package for Americans and the President expected to sign it into law, the clock may be ticking for this year's home buyers and homeowners. White House may move to buy mortgages New proposal could break logjam of foreclosure relief efforts.Date: 02/13/2009 The White House is considering a proposal to head off potentially millions more home foreclosures by using federal funds to buy up at-risk loans and then refinance them with more affordable terms. Freddie Mac Increases Fees on Some MortgagesDate: 01/31/2009 Freddie Mac posted on its Web site late Friday higher fees that will raise costs for some home mortgage borrowers. Highlights Of The Stimulus BillDate: 01/31/2009 The House right now is in the process of debating the much-discussed $825 billion stimulus package promoted by President Obama, with a vote expected within a few hours. The 'Bad Bank' SolutionDate: 01/31/2009 It would relieve banks of $1 trillion or more in bad loans, but leave tough choices on the table The Mortgages of the FutureDate: 01/23/2009 In this time of economic crisis, help for troubled homeowners often arrives late, when it arrives at all. All too frequently, families are going into default on their mortgages, facing foreclosures and evictions that may have traumatic consequences. California's median home price falls 38 percentDate: 01/23/2009 Research firm: California home sales rose in December, but median price fell 38 percent Despite more than $1 trillion in federal largesse, they still may not have the capital cushions to bear the risks of making fresh loansDate: 01/22/2009 American Apparel executives should have been focused on the sales of their leggings and T-shirts this holiday season. Mortgage Rates: How Low Can They Go?Date: 01/15/2009 Exactly how low can mortgage rates go? A Record-breaking low, according to Freddie Mac’s ([1] FRE: 0.69 -1.43%) Primary Mortgage Market Survey released Thursday, which showed an eleventh consecutive week of falling rates, where 30-year fixed-rate mortgages averaged an astoundingly low 4.96 percent with an average 0.7 point, down from 5.01 percent last week and 5.69 percent a year ago. TARP NEWSDate: 01/14/2009
Rates Could Fall Another 50-100 BPSDate: 01/02/2009 Average 30-year 5.10% More Aid May be Coming for U.S. Homeowners in 2009Date: 12/27/2008 Half of the $700 billion bank-bailout may be deployed to stem foreclsoures and the Hope Now Alliance expects to modify two million mortgages in 2009. Refinancing home loans an option, experts sayDate: 12/27/2008 Owners with good credit can take advantage of low rates Treasury Has Spent $350 Billion of Bailout FundDate: 12/20/2008 The Treasury Department said on Friday that it had used up the first $350 billion that Congress approved for its financial bailout program. But it made no move to ask Congress for the next round of money. Fed's Rate Cut Creates Gold RushDate: 12/19/2008 How low can interest rates go? We're about to find out. Fed move prompts mortgage refinancingDate: 12/19/2008 Dramatic actions by the Federal Reserve Bank to slash interest rates to nearly zero and pump money into mortgages have set the table for a wave of mortgage refinancing that could save money for millions of homeowners and be a boon for a wave of mortgage refinancing that could save money for millions of homeowners and be a boon for banks. Mortgage rates fall to 37-year lowDate: 12/19/2008 Rates on a 30-year fixed mortgage dropped to 5.19% this week, after the Fed slashed interest rates to historic lows. Mortgage rates hit 4-year lowDate: 12/18/2008 Purchase applications down in latest survey Mortgage rates tumble to lowest since 1971Date: 12/18/2008 Mortgage rates are falling as this week's dramatic action by the Federal Reserve provides a boost to the dismal housing market, but the nation's unemployment rolls are stuck at historically high levels amid a deepening recession. O.C. mortgage rates return to historic low, 4.875%Date: 12/17/2008 Rates on some home loans in Orange County fell today to the lowest since 2003, some mortgage brokers said. And rates in 2003 were the lowest in more than 30 years. The Fed Moves Beyond the Rate CutDate: 12/08/2008 The central bank's traditional strategy for jump-starting the economy isn't cutting it. So now the Fed is pumping money into the banking system Mortgage Delinquencies, Foreclosures at Record HighsDate: 12/08/2008 MORTGAGE RATES, FANNIE MAE, FREDDIE MAC, HOUSING, REAL ESTATE, U.S. ECONOMY Even With All The Programs, Many Home Borrowers Beyond HelpDate: 12/08/2008 We’ve been talking a lot latelyabout the latest delinquency numbers from the Mortgage Bankers Association and how the recession is going to affect foreclosures going forward. As one industry-type put it to me, we thought we were going to be seeing the light at the end of the tunnel by 2009, now we see a runaway freight train coming back at us. Mortgage Rates Drop to Lowest Level Since JanuaryDate: 12/08/2008 MORTGAGE RATES, FANNIE MAE, FREDDIE MAC, HOUSING, REAL ESTATE, U.S. ECONOMY, Job losses have O.C. impact beyond layoffsDate: 12/05/2008 Small Orange County companies that are not laying off workers are feeling the impact of huge job losses across the local economy. Dems, White House move toward auto dealDate: 12/05/2008 Big 3 plead for a 2nd day with lawmakers for loans to help them survive Unraveling the Mystery Behind U.S. Treasury PricesDate: 11/30/2008 Recent trading in U.S. government debt has puzzled even seasoned pros. Fed seeks to avoid Great Depression IIDate: 11/30/2008 Yesterday the Fed announced that it would begin to buy mortgage and other private debt securities -- easily the most dramatic and unprecedented action in the Fed's 95-year history. Homebuyers jump at falling mortgage ratesDate: 11/30/2008 The troubled housing market, which has been gaining momentum for several months, got a new jolt this week. An $800 billion stimulus plan for the credit markets, unveiled Tuesday by the Federal Reserve and U.S. Treasury Department, sent fixed-rate mortgages tumbling as much as 1 percentage point. Fannie, Freddie to Suspend Foreclosures During HolidaysDate: 11/24/2008 Mortgage giants Fannie Mae and Freddie Mac will suspend foreclosure sales and evictions on certain properties until after the holiday season, as they prepare to implement a previously announced loan-modification program. Breaking the financial crisisDate: 11/22/2008 The main objective of our proposal is to break the back of the financial crisis by sharply reducing mortgage foreclosures while liquefying a major part of the existing mortgage stock. A second purpose is to provide the foundation for a more stable housing finance system in the future. 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. The government's new definition of richDate: 05/07/2008 President Obama's tax plan won't help balance the budget, and it may hurt the upper middle class 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 percentage point at its policy meeting on Tuesday as investors warily await investment bank results that could aggravate fears of a full-blown markets crisis. Households face the unthinkable: budgetingDate: 03/18/2008 After years of living large, U.S. households are finally learning what financial experts thought they never would: to live within their means. Fed cuts key interest rates by 3/4 pointDate: 03/18/2008 The Federal Reserve slashed a key U.S. interest rate by three-quarters of a percentage point on Tuesday, a substantial cut but smaller than many in financial markets had expected, as part of an effort to hold off a deep recession and financial meltdown. Increase in Producer Prices Feeds Fear of Rising InflationDate: 03/18/2008 Businesses paid more for gasoline, automobiles and most products last month, reinforcing fears that inflation is rising. More Rate Cuts From Fed Expected TuesdayDate: 03/16/2008 Desperate to aid an economy in crisis, the Federal Reserve is ready to deliver yet another big interest rate cut. Fed drops lending rate a quarter pointDate: 03/16/2008 Move leaves it at 3.25 percent; new lending outlet for banks created Fed's cash converter won't mark bottomDate: 03/16/2008 The Federal Reserve's $200 billion refinancing plan is a nifty move, but is not to be confused with a solution or seen as marking the bottom of what could be a long bear market. Loan application makes you a 'trigger lead'Date: 03/15/2008 It's a surprise for many would-be home buyers: On Monday you sign a loan application with the mortgage broker of your choice and by Tuesday your phone is ringing off the hook with calls from other lenders offering you deals. Congratulations! You've become a "trigger lead." Most Economists Say Recession Has Arrived as Outlook DarkensDate: 03/13/2008 The U.S. has finally slid into recession, according to the majority of economists in the latest Wall Street Journal economic-forecasting survey, a view that was reinforced by new data showing a sharp drop in retail sales last month. Forecast: Perfect storm of financial problems, but no recessionDate: 03/13/2008 Fear of imminent economic recession may be a self-fulfilling prophecy, according to the latest Anderson Forecast [1] report by University of California, Los Angeles forecasters. Nightly real estate rates barely budgeDate: 03/12/2008 Long-term mortgage interest rates were up slightly Tuesday, and the benchmark 10-year Treasury bond yield gained to 3.6 percent. Goldman says can't rule out Fed emergency rate cutDate: 03/11/2008 An emergency interest rate cut from the Federal Reserve is possible ahead of its March 18th policy meeting, according to a Goldman Sachs research note on Monday. Dollar Falls as Traders Start to Bet Fed Will Cut Rates to 2%Date: 03/10/2008 The dollar fell toward a record low against the euro and the lowest in eight years versus the yen as some traders started to bet that the Federal Reserve will cut interest rates by 1 percentage point to avoid a recession. Higher conforming mortgage limits are hereDate: 03/07/2008 If your city or county qualify, you could see lower rates through end of year Mortgage Rates Mixed in Freddie Mac, MBA Weekly SurveysDate: 03/06/2008 Mortgage rates continued to move upwards during the week ended February 28 according to the Primary Mortgage Market Survey report released by Freddie Mac. Real estate rates climb overnightDate: 03/05/2008 Long-term mortgage interest rates continued higher Tuesday, and the benchmark 10-year Treasury bond yield was up at 3.62 percent. Paulson says servicers, interest rates helping ARM borrowersDate: 03/03/2008 Cuts in short-term interest rates have reduced the payment shock of adjustable-rate mortgage resets, and although foreclosure starts continued to grow in January, loan servicers increased the number of loan modifications at a faster pace. A Look at GSE 2007 Earnings; Ouch!Date: 03/01/2008 Freddie Mac and Fannie Mae may have gotten good news from their regulator which lifted the corporations' portfolio caps, but their earnings reports for the year just ended were pretty devastating. Bernanke Readiness to Cut Rates Stokes Price ConcernsDate: 02/29/2008 Federal Reserve Chairman Ben S. Bernanke's readiness to cut interest rates to avert a recession is stoking concerns that prices will get out of hand Treasuries Rise as Traders Bet on Fed Cuts, Asian Stocks SlideDate: 02/29/2008 Treasuries rose, pushing two-year yields to the lowest level since April 2004, after Asian stocks declined and traders increased bets for Federal Reserve interest- rate cuts. How low will interest rates go?Date: 02/29/2008 Answer: 2% Why Fed rate cuts may be spurring inflationDate: 02/27/2008 Easy money policy seen hurting the dollar, driving up energy prices Stimulus would help, but maybe not enoughDate: 02/27/2008 Outline of package emerging, centering on tax 'rebates,' jobless benefits Bernanke says Fed prepared to help economyDate: 02/27/2008 Federal Reserve Chairman Ben Bernanke on Wednesday signaled a readiness to cut interest rates again to prevent further damage to the weak U.S. economy, even as he took note of rising inflation risks. Bernanke vs. the economyDate: 02/26/2008 Monetary policy will be the focus of Fed chief's remarks on Capitol Hill, but so will the health of U.S. economy and credit market woes Feds looking to help upside-down borrowersDate: 02/25/2008 BofA backs Dodd plan to buy up loans at a discount Fed's warns on growth but wary of inflationDate: 02/23/2008 The U.S. economy is in a slowdown that could steepen but inflation is also a threat that must not be ignored, the president of the Dallas Federal Reserve Bank, Richard Fisher, said on Friday. Real estate rates fall overnightDate: 02/22/2008 30-year fixed rate at 5.94%; 10-year Treasury yield at 3.77% FHA Limits May Rise in March HUD estimates early MarchDate: 02/22/2008 Borrowers may be able to apply in March under the expanded loan limits for mortgages insured by the Federal Housing Administration. When credit is tight, getting the best loanDate: 02/22/2008 Now more than ever it pays to be a prime borrower - here's how to be that guy The Fed is on your sideDate: 02/22/2008 The rate cut will help consumers with large home equity credit payments and may help credit card borrowers as well. Lowered bond prices raise worry in buyout dealsDate: 02/21/2008 Plummeting bond prices have cast a cloud of financial uncertainty over leveraged buyout deals of the past two years -- including last year's acquisition of real estate brokerage and franchise powerhouse Realogy by an affiliate of private equity firm Apollo Management LP. Subprime loans defaulting even before resetsDate: 02/21/2008 It turns out that massive interest rate spikes aren't the problem -- many borrowers couldn't afford these mortgages even at the low, introductory interest rates. Fixed mortgage rates rise, adjustable rates fallDate: 02/21/2008 Long-term fixed mortgage rates return to January levels; average adjustable-rate mortgage rates slightly lower than earlier this year, says Freddie Mac. Overnight real estate rates continue climbDate: 02/20/2008 30-year fixed rate at 5.92%; 10-year Treasury yield at 3.9% Mortgage woes aren't all alikeDate: 02/20/2008 Perspective: Victims should benefit from needs-based sympathy, solutions You May Not Want to Wait to Refinance That MortgageDate: 02/19/2008 With all the headlines about Federal Reserve rate cuts, it's easy to jump to the wrong conclusion: that you can afford to wait to refinance your home. But that's a dangerous position to take. It's one thing to speculate with interest-rate futures. It's quite another to gamble with the roof over your head. Home Refinancing OptionsDate: 02/19/2008 You have a variety of options for refinancing your mortgage, including: Fannie, Freddie can’t mix and match conforming, jumbo MBSDate: 02/19/2008 Restrictions could limit rate benefits for jumbo borrowers Congress looks into foreclosure rescue scamsDate: 02/18/2008 Rising mortgage delinquencies and foreclosures have created a "target-rich environment" for rescue scam operators, a Federal Trade Commission official told members of a Senate committee looking into scams aimed at the elderly. Hope Now: When loan workouts don't work outDate: 02/18/2008 Many troubled mortgage borrowers end up in foreclosure, even after their lender has cut them a deal. Here's why Another Attempt to Ameliorate the Housing Situation ProposedDate: 02/15/2008 It took a while to saddle up the horses, but now it seems as though everyone is riding to the rescue. Raising conforming loan limit not a simple taskDate: 02/14/2008 While Fannie Mae, Freddie Mac and the Federal Housing Administration will soon be allowed to dive into what until now has been the jumbo loan market, it remains to be seen how many borrowers will benefit Six lenders throw seriously delinquent borrowers a lifelineDate: 02/14/2008 Six major lenders have agreed to work with seriously delinquent homeowners, putting foreclosure proceedings on hold for up to 30 days to offer some borrowers workout plans that would lead to formal loan modifications if they can make reduced loan payments for three months. Changes in Loan Limits Will Impact Few Home BuyersDate: 02/13/2008 President George W. Bush is scheduled to sign H.R. 5140, better known as the economic stimulus package into law on Wednesday. The package, which was passed by both houses of Congress at what looked like warp speed compared to the way most legislation is handled these days, is intended to address the fear of recession that is paralyzing the stock market and causing consumers to cut back on spending. President Bush has signed the Bill! FHA, Conforming Limits BoostedDate: 02/13/2008 President Bush has signed into law emergency legislation that will temporarily increase the conforming limit by 75 percent. In addition, the limit for loans insured by the Federal Housing Administration will also see a temporary boost. Real estate rates scattered overnightDate: 02/12/2008 30-year fixed rate at 5.57%; 10-year Treasury yield at 3.62% Bush to sign stimulus package WednesdayDate: 02/11/2008 President said he's looking forward to signing $170 billion economic stimulus package passed last week by Congress. Consumers could see tax rebate checks by May. Refinancing: Only for the privileged fewDate: 02/11/2008 Sure, now is a great time to refinance - that is, if you can still qualify. Here is what lenders are looking for. Some (Limited) Relief for the Mortgage-StressedDate: 02/10/2008 If you were busy with holiday travels and shopping in late December, you might have missed the fact that President Bush signed into law new legislation designed to help homeowners in deep mortgage trouble. Congress OKs stimulus bill, loan limit increaseDate: 02/08/2008 Bush administration officials renewed their calls for Congress to pass legislation tightening oversight of Fannie Mae and Freddie Mac Thursday, as Congress signed off on a plan to allow the companies to guarantee or purchase loans that exceed the $417,000 loan limit. U.S. mortgage rates fall slightlyDate: 02/07/2008 Long-term rates change little, in step with Treasury bond yields: economist Senate Approves $171 Billion Stimulus Plan, Conforming Loan Limits Raised to $729,750Date: 02/07/2008 WASHINGTON — The Senate overwhelmingly approved a $171 billion economic stimulus program on Thursday afternoon, sending it to the House for final passage on Thursday evening so that it can be sent quickly to President Bush's desk. Keeping Them Honest - Comparing 2007 Forecasts With RealityDate: 02/06/2008 We used to regularly cover the monthly Economic and Housing Market Outlook from Freddie Mac's Office of the Chief Economist, but sometime last summer they stopped doing the usually interesting narrative that accompanied the numbers so we no longer paid a lot of attention to the spreadsheet that remained. Mortgage Rates Reclaim Last Week's DeclinesDate: 02/06/2008 It was nice while it lasted but mortgage rates last week reversed a four week downward trend and made up much of the ground they lost a week earlier. However, they still remained well below where they were at the end of 2007 when the four-week slide began. Nightly real estate rates increaseDate: 02/05/2008 30-year fixed rate at 5.52%; 10-year Treasury yield at 3.65% Overnight real estate rates slip againDate: 02/04/2008 30-year fixed rate at 5.47%; 10-year Treasury yield at 3.59% Many Mortgage Delinquents Still Unaware There Is HelpDate: 02/04/2008 Freddie Mac has found that homeowners are becoming increasingly aware that there may be help out there should they run into problems paying their mortgage loans but there is still a long way to go in spreading the word. Senate calls timeout on economic stimulus planDate: 02/04/2008 WASHINGTON — Senate debate bogged down Monday night on a bill meant to boost the sagging economy by putting more money in consumers' pockets and cutting some business taxes. Tips for Buying A Foreclosed HomeDate: 02/02/2008 Though no one can really tell when the downward-trending housing market will reach its nadir -- most economists predict it will bottom out sometime in 2008 or 2009 -- there's no doubt that sellers have let go of bubblelicious notions of what their homes are worth. According to S&P/Case-Shiller, existing home prices dropped 4.5% nationally in the third quarter over the year before; price appreciation was even slowing in Charlotte, one of the few cities that the research group covers that showed price appreciation year-over-year. It rose at a tepid rate of 4.7%. Real estate rates sink overnightDate: 02/01/2008 30-year fixed rate at 5.49%; 10-year Treasury yield at 3.59% Pass stimulus package: Bush to CongressDate: 02/01/2008 President comments on a report showing the end to 52-month job growth streak. What Fed cuts really mean for mortgagesDate: 02/01/2008 Commentary: Average rates on mortgages unchanged in recent surveys Fed Moves to Curb Risk of RecessionDate: 01/31/2008 Central Bank Lowers Target Rate by Half Point, Open to Further Cuts! Mortgage rates rebound this weekDate: 01/31/2008 Investor concern over inflation sends Treasury yields higher Nightly real estate rates up againDate: 01/31/2008 30-year fixed rate at 5.52%; 10-year Treasury yield at 3.67% Chances for nationwide recession less likelyDate: 01/31/2008 Latest data show pockets of trouble, but nothing widespread, economist says Schwarzenegger joins push to raise conforming loan limitDate: 01/31/2008 Governor: Half of Californians can't get GSE-backed loans Mortgage Rates Still Falling Hitting Four Year LowDate: 01/30/2008 Mortgage interest rates for the week ended January 24 continued to fall and long term rates hit their lowest levels since the spring of 2004 according to the results of Freddie Mac's Primary Mortgage Market Survey for the week ended January 24, 2008. Refinancing applications jump againDate: 01/30/2008 Homeowners' applications to refinance existing loans surged again in the Mortgage Bankers Association's latest survey of filings, rising 22.1% last week compared with the previous week. Fed slashes short-term rates againDate: 01/30/2008 50-basis-point cut follows Jan. 22 emergency move Mortgage Rates at 2.5 Year LowDate: 01/29/2008 Mortgage rates continued to fall during the week ended January 17 according to the results of the Primary Mortgage Market Survey released by Freddie Mac and, in the case of 30 and 15-year fixed rate mortgages (FRMs) reached the lowest level since July 2005 Fate of plan to raise conforming loan limit in doubtDate: 01/28/2008 Proposal could die in Senate debate over stimulus plan Emergency Action May Boost Loan LimitsDate: 01/25/2008 $729,750 limits proposed for FHA permanently, conforming temporarily Mortgage Rates Plummet While Applications and Refinancing IncreaseDate: 01/24/2008 Mortgage rates plummeted last week as week economic reports, chiefly jobs and unemployment reports came in at the weakest levels in several years. |
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