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US Mortgage Rates On The Rise

Fri, 24 May 2013 10:53:23 -0400

This week mortgage applications decreased 9.8%, for the second week in a row, while mortgage rates have continued increasing for the third consecutive week. According to Freddie Mac, although most mortgage rates have increased this week, 1-year adjustable-rate mortgages are still at the second lowest rate we have seen in almost half a decade. 30-year [...]

Market Minute: Markets Swoon on Threat of Higher Interest Rates

Thu, 23 May 2013 05:28:00 -0400

DailyFinance.com: Getty Images Markets around the world are skittish after Fed Chairman Ben Bernanke warned the central bank could begin winding down its bond buying program later this year. That has added uncertainty that's likely to weigh on the market Thursday ... Read more

Bernanke Signals Fed Will Keep Stimulus in Place

Wed, 22 May 2013 06:55:00 -0400

DailyFinance.com: Paul Beaty/APFederal Reserve Chairman Ben Bernanke. By MARTIN CRUTSINGER WASHINGTON -- Federal Reserve Chairman Ben Bernanke is telling Congress Wednesday that the U.S. job market remains weak and that it is too soon for the Federal Reserve to end ... Read more

Toll Brothers Profit Rises as Housing Market Rebounds

Wed, 22 May 2013 03:46:00 -0400

DailyFinance.com: Scott Olson/Getty Images Toll Brothers posted a 46 percent rise in quarterly profit as the largest U.S. luxury homebuilder sold more homes at higher prices, indicating that the housing recovery is spreading across the industry. Record-low interest ... Read more

US Mortgage Rates On The Rise While Mortgage Applications Decrease

Fri, 17 May 2013 09:05:20 -0400

This week all mortgage rates have increased compared to the previous week when 1-year mortgage rates were at a record low. This is the second time this year that all mortgage rates rose simultaneously, something that hasn’t occurred since January 31, 2013. Due to this rise in mortgage rates, there has been an big decrease [...]

5 Mortgage Facts You (Really, Seriously) Need to Know

Fri, 17 May 2013 01:00:00 -0400

DailyFinance.com: Alamy One reason why the housing bust was so severe was that millions of homeowners got blindsided by the terms of their own mortgage loans. Yet years after the financial crisis, potential buyers still don't know everything they should about ... Read more

U.S. Homebuilders' Confidence Climbs in May

Wed, 15 May 2013 06:21:00 -0400

DailyFinance.com: Keith Srakocic/AP By ALEX VEIGA Confidence among U.S. homebuilders rebounded this month, reflecting improved sales trends during the spring home-selling season and the strongest outlook for sales during the next six months in more than six ... Read more

1-Year US Mortgage Rates Reach Record Low While Mortgage Applications Increase

Fri, 10 May 2013 08:39:36 -0400

This week mortgage applications have increased 7% compared to last week, which is a very large increase considering that last week mortgage applications only increased 1.8%. At the same time, this week 1-year adjustable-rate mortgages have decreased to a new record-low, in contrast to most other mortgage rates which have increased this week above their [...]

Fannie Mae Posts Record $60B Quarterly Profit

Fri, 10 May 2013 02:13:00 -0400

DailyFinance.com: Manuel Balce Ceneta/AP By MARCY GORDON WASHINGTON -- Fannie Mae said something Thursday that would have been unthinkable a few years ago: It earned a record $58.7 billion profit in the January-March quarter. And it made clear it's on the cusp of ... Read more

Court: U.S. Can Pursue Case Against BofA Over Mortgages

Wed, 08 May 2013 11:35:00 -0400

DailyFinance.com: Justin Sullivan/Getty Images By Aruna Viswanatha A federal judge ruled Wednesday that the U.S. can pursue parts of a civil lawsuit against Bank of America for its sale of toxic mortgages to Fannie Mae and Freddie Mac, boosting a largely untested ... Read more

Freddie Mac Posts Near-Record Profit in 1Q

Wed, 08 May 2013 05:08:00 -0400

DailyFinance.com: Paul J. Richards, AFP/Getty Images WASHINGTON -- Freddie Mac, the No. 2 provider of U.S. mortgage money, posted its second-largest quarterly profit in company history in the first quarter due to rising home prices, falling mortgage delinquencies and ... Read more

U.S. Home Prices Surge 10.5% in March

Tue, 07 May 2013 12:25:00 -0400

DailyFinance.com: Alamy By CHRISTOPHER S. RUGABER WASHINGTON -- A survey shows U.S. home prices rose 10.5 percent in March compared with a year ago, the biggest gain since March 2006. Core Logic, a real estate data provider, said Tuesday that annual home prices ... Read more

BofA, MBIA Reach Settlement in Mortgage Dispute

Mon, 06 May 2013 11:00:00 -0400

DailyFinance.com: Getty Images By Karen Freifeld Bond insurer MBIA and Bank of America have reached a settlement in an ongoing legal dispute, and BofA will pay MBIA $1.6 billion, sources familiar with the matter said on Monday. Bank of America Inc. (BAC) will also ... Read more

Investing in Private Banking

Mon, 06 May 2013 05:02:00 -0400

Investing in Private Banking

Mon, 06 May 2013 05:02:00 -0400

Congressional Influence as a Determinant of Subprime Lending

Sun, 05 May 2013 06:39:38 -0400

A relatively unforeseen implosion in housing markets figured prominently in the 2007 meltdown in capital markets and the subsequent downturn in the global economy. This column presents new research on the political geography of subprime lending. Congressional leaders – as well as other recipients of campaign contributions – may have benefited from gains to trade [...]

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Huge Decrease In US Mortgage Rates This Week

Fri, 03 May 2013 10:06:41 -0400

According to Freddie Mac, this week all mortgage rates have decreased substantially, reaching two new record low rates, for both 5 and 15 year mortgages. This week mortgage applications have increased 1.8% compared to last week. This is a much larger increase than the one we saw last week of 0.2% and which we can [...]

No Surprises Expected as Fed Ends 2-Day Meeting

Wed, 01 May 2013 02:43:00 -0400

DailyFinance.com: Manuel Balce Ceneta/APFederal Reserve Chairman Ben Bernanke. By MARTIN CRUTSINGER WASHINGTON -- The Federal Reserve is widely expected Wednesday to stick with its aggressive efforts to strengthen a still-subpar economy. The Fed will likely end a ... Read more

US Mortgage Rates Decrease To New Record Lows

Fri, 26 Apr 2013 09:48:18 -0400

This week mortgage applications increased 0.2% compared to the previous week. This slight increase is more than expected as this week all mortgage rates have gone down, reaching two new record-lows for 15-year and 5-year mortgages. 30-year mortgage rates decreased to 3.4% this week compared to 3.41% last week. This is one of the lowest [...]

Surge in New-Home Sales Signals Reviving Housing Market

Tue, 23 Apr 2013 06:37:00 -0400

DailyFinance.com: Chuck Burton/AP By MARTIN CRUTSINGER WASHINGTON -- U.S. sales of new homes rebounded in March to a seasonally adjusted annual rate of 417,000. The increase added to evidence of a sustained housing recovery at the start of the spring buying ... Read more

Existing Home Sales Edge Down as Prices Rise

Mon, 22 Apr 2013 09:40:00 -0400

DailyFinance.com: Steven Senne/AP By Margaret Chadbourn WASHINGTON -- U.S. home resales edged downward in March, pointing to some slowdown in the housing market recovery pace as overall economic activity cools. The National Association of Realtors said Monday ... Read more

US Mortgage Rates Decrease, Reaching Record Lows Once More

Fri, 19 Apr 2013 10:34:30 -0400

This week, mortgage applications have increased by 4.8% compared to last week, which might be because of the fact that mortgage rates have decreased reaching new record-lows that haven’t been seen in almost 50 years. The best mortgage rates for those of you planning on refinancing your existing home this week are the 5-year adjustable-rate [...]

Bank of America to Pay $500M to Settle Investor Lawsuit

Thu, 18 Apr 2013 02:36:00 -0400

DailyFinance.com: Getty Images By CHRISTINA REXRODE NEW YORK -- As soon as Bank of America puts one mortgage-related lawsuit behind it, another always seems to rear its head. The bank announced Wednesday that it would pay $500 million to settle a class-action ... Read more

All US Mortage Rates Decrease This Week Reaching Record Lows

Fri, 12 Apr 2013 09:18:30 -0400

This week all US mortgage rates have decreased substantially, reaching record lows in several cases while mortgage applications have increased 4.5%. This is the first time since the last few weeks of February in which we’ve seen a simultaneous decrease of all U.S. mortgage rates. According to Freddie Mac, 30-year fixed-rate mortgages have decreased from [...]

Mortgage Insurers Funneled Kickbacks to Lenders, Alleges CFPB

Fri, 05 Apr 2013 13:20:00 -0400

DailyFinance.com: Getty Images On Thursday, the Consumer Financial Protection Bureau filed complaints against four mortgage insurers who the CFPB claimed had paid kickbacks to mortgage lenders. Mortgage insurance is often required by mortgage lenders when customers ... Read more

US Mortgage Rates And Mortgage Applications Decrease

Fri, 05 Apr 2013 10:34:43 -0400

This week mortgage applications have decreased 4% compared to a week earlier and mortgage rates have also gone down, although still above their record-low levels. Almost all mortgages have decreased their rates this week, except for 1 year-adjustable-rate mortgage, which has increased its rate slightly compared to last week. According to Freddie Mac 30-year fixed-rate [...]

US Mortgage Rates Increase On Par With Mortgage Applications

Fri, 29 Mar 2013 09:24:46 -0400

This week US mortgage applications have increased by 7.7% compared to last week. This increase in applications has occured despite the fact that mortgage rates have increased quite a bit this week, except for 1-year mortgage rates, which according to Freddie Mac have gone down slightly compared to a week earlier. 30-year fixed-rate mortgages have [...]

Drop in Interest Rates Boosts Demand for Home Mortgages

Wed, 27 Mar 2013 04:53:00 -0400

DailyFinance.com: Joe Raedle/Getty Images A for-sale sign in front of a Miami home on Tuesday. A report Wednesday showed more consumers applied for mortgages last week, driven in part by a drop in mortgage rates. NEW YORK -- Applications for U.S. home mortgages ... Read more

All US Mortgage Rates Drop While Mortgage Applications Decrease

Fri, 22 Mar 2013 09:53:30 -0400

This week the number of mortgage applications decreased by 7.1% compared to last week, although mortgage rates decreased as well. This drop in US mortgage rates is good news for those of you who are looking for the lowest mortgage rate either to refinance your home or to buy a new one. According to Freddie [...]

Fed Seen Maintaining Stance on Record Low Interest Rates

Wed, 20 Mar 2013 02:20:00 -0400

DailyFinance.com: Richard Drew/AP Federal Reserve Chairman Ben Bernanke is seen on a monitor on the floor of the New York Stock Exchange on Tuesday, the same day Bernanke told Congress maintaining low interest is necessary in an economy is still burdened by high ... Read more

US Mortgage Applications Decrease As 30-Year Mortgage Rates Rise

Fri, 15 Mar 2013 10:13:54 -0400

This week mortgage applications decreased by 4.7% compared to last week while 30-year mortgages increased their rates by 0.11%, which, according to Freddie Mac, is the largest increase in mortgage rates we have seen this year. 30-year fixed-rate mortgages increased this week from 3.52% last week to 3.63% this week, which is the highest mortgage [...]

US Mortgage Rates Fluctuate While Mortgage Applications Increase

Fri, 08 Mar 2013 09:34:28 -0500

This week mortgage applications increased 14.8% compared to last week, although mortgage rates this week have been topsy-turvy, with some rates increasing, others decreasing and some even remaining unchanged. 30-year fixed-rate mortgages increased slightly from 3.51% last week to 3.52% this week, which is the third highest rate we have seen since the beginning of [...]

US Mortgage Rates Down While US Consumer Confidence Increases

Fri, 01 Mar 2013 09:34:09 -0500

US consumer confidence has jumped a lot for the month of February, compared to last year, according to the Conference Board’s sentiment index just released. There has also been a large increase of new homes that have been purchased since the beginning of 2013. In January alone, there was a 15.6% increase in new home [...]

Young Adults Are Too Broke to Get Loans

Thu, 28 Feb 2013 00:00:00 -0500

DailyFinance.com: By TAMI LUHBY Young adults are in less debt than they were a decade ago, but that's not a good thing. It's not because legions of Americans under age 35 have suddenly become fiscally responsible. It's more likely that their shaky economic ... Read more

5-Year US Mortgage Rates Still At Record Low

Fri, 22 Feb 2013 09:34:03 -0500

Since the start of 2013, mortgage rates have increased and decreased substantially, going up and down quickly and with no warning. Most of these fluctuations of the mortgage rates have resulted in high interest rates, while only one has gone down substantially compared to its previous rate: 5-year mortgage rates are now at a record [...]

Late-Payment Rate on U.S. Mortgages Hits 4-Year Low

Tue, 12 Feb 2013 03:46:00 -0500

DailyFinance.com: By ALEX VEIGA LOS ANGELES -- Homeowners who took on mortgages well after the housing bubble burst are doing a better job in keeping up with payments, a trend that has helped push the national rate of late payments on home loans to the lowest level ... Read more

No-Money-Down Mortgages Can Destroy Affluent

Tue, 05 Feb 2013 14:50:57 -0500

Here comes another lame idea in finance, made especially for affluent investors with little sense. Banks are offering no-money-down mortgages secured by portions of an investor’s portfolio. Maybe this is a sign of how desperate high-end homebuilders have become to move new inventory. It’s definitely a sign that parties to mortgages are once again throwing [...]

View the full post at: No-Money-Down Mortgages Can Destroy Affluent

JPMorgan CEO Jamie Dimon Sees Pay Slashed After London Whale Trading Loss

Wed, 16 Jan 2013 04:32:00 -0500

DailyFinance.com: By CHRISTINA REXRODE NEW YORK -- JPMorgan Chase (JPM) reported a 55 percent jump in earnings for the last three months of 2012 as mortgage fees and other income surged. The bank also released internal reviews of a surprise $6 billion trading loss ... Read more

Investing in Banking Mortgages Investment and Trust Services

Sun, 13 Jan 2013 23:24:00 -0500

Investing in Banking Mortgages Investment and Trust Services

Sun, 13 Jan 2013 23:24:00 -0500

CFPB Unveils New Federal Rules to Curb Risky Mortgages

Thu, 10 Jan 2013 03:33:00 -0500

DailyFinance.com: By DANIEL WAGNER WASHINGTON -- Federal regulators for the first time are laying out rules aimed at ensuring that mortgage borrowers can afford to repay the loans they take out. The rules being unveiled Thursday by the Consumer Financial Protection ... Read more

Year-end Debt Checkup: Make Sure Yours Is Healthy Debt

Mon, 24 Dec 2012 01:00:00 -0500

DailyFinance.com: Americans have set another record. It's not a good one, though. U.S. consumer debt hit an all-time high in October, with borrowing rising by $14.2 billion over September levels, to total $2.75 trillion. But there's a little silver lining in the ... Read more

Fannie Mae, Freddie Mac Managers' Median Pay: $200,000 a Year

Mon, 10 Dec 2012 12:16:00 -0500

DailyFinance.com: By MARCY GORDON WASHINGTON -- A government report finds median pay for nearly 2,000 senior managers at government-controlled Fannie Mae and Freddie Mac exceeded $200,000 last year. The Federal Housing Finance Agency, which oversees the two mortgage ... Read more

Are Mortgages from Walmart the Future of Lending?

Thu, 06 Dec 2012 07:03:00 -0500

DailyFinance.com: The financial collapse that began in 2007 left a sour taste in consumers' mouths when regard to the banking industry. But the silver lining is that this opened the door for alternatives. Established choices like credit unions picked up new members in ... Read more

How You Can Take Advantage of the Fed's Low Interest Rate Commitment

Mon, 19 Nov 2012 00:59:00 -0500

DailyFinance.com: Two months ago, the Federal Reserve began a third round of bond buying. Dubbed "QE3," its latest plan to boost the economy hinges on purchasing mortgage-backed securities at the barn-burner rate of $40 billion a month -- nearly half a trillion ... Read more

New Record-Low Mortgage Rates In The US

Fri, 16 Nov 2012 09:35:55 -0500

This week mortgage applications increased 12.6% compared to last week. This huge increase in the volume of applications is in part due to the rebound of mortgage application activity in the areas that were affected by Hurricane Sandy two weeks ago. Another important factor that might have influenced this huge increase in applications is that [...]

US Mortgage Rates Fluctuate Slightly At Near-Record Lows

Fri, 09 Nov 2012 09:34:57 -0500

This week 30-year fixed-rate mortgages increased slightly from 3.39% last week to 3.4% this week. This increase is still lower than 2 weeks ago and only 0.04% higher than the record low of 3.36% that was reached last month. According to Freddie Mac, 15-year mortgage rates have decreased this week to 2.69% from 2.7% last [...]

Listen Up, Washington: These 10 Money Problems Need Fixing Now

Thu, 08 Nov 2012 01:00:00 -0500

DailyFinance.com: A long and grueling election season, focused on the economy, has come to a close, with many observers interpreting the outcome as a guarantee that the status quo will persist: legislative gridlock, precluding solutions to the country's fiscal ... Read more

Odds Go Up for Mortgage Mods Post Election

Wed, 07 Nov 2012 12:25:11 -0500

This man is Christopher DeMarco. He’s the acting head of the Federal Housing Finance Authority (FHFA). He’s going to lose his job in the next six weeks. Democrats want to go back to the good old days when Fannie and Freddie were tools of both the Congress and the Administration. The Dems want the D.C. [...]

Reverse Mortgages: 3 Ways You Can Tap Home Equity to Enhance Your Retirement

Sat, 03 Nov 2012 02:00:00 -0400

DailyFinance.com: By Gerri Detweiler You may have heard of reverse mortgages as a way for seniors to tap the equity in their homes to pay for living expenses, but there are other ways that homeowners are using their homes to get by. Many seniors are on fixed ... Read more