Mortgage Rates Archive
RISMEDIA, December 16, 2010—(MCT)—The Federal Reserve, saying that the economic recovery was not strong enough to bring down unemployment, vowed to stick with its controversial bond-buying program to spur growth and to hold short-term interest rates at near zero
RISMEDIA, December 15, 2010—(MCT)—The number of homeowners in the U.S. who owe more on their properties than what those homes are worth has declined steadily for most of 2010, according to Santa Ana, Calif. research firm CoreLogic. But the drop in properties with negative equity has more to do with troubled borrowers losing their homes to foreclosure than an increase in prices. About 10.8 million, or 22.5% of residential properties with mortgages were in negative equity positions at the end of the third quarter. That is down from 11 million, or 23%, in the second quarter.
RISMEDIA, December 13, 2010—(MCT)—President Barack Obama's nominee to lead Fannie Mae and Freddie Mac recently pledged to Congress to offer not just management, but leadership, if he becomes the new chief of the troubled housing agencies.
RISMEDIA, December 10, 2010—(MCT)—A funny thing happened to DeBary, Fla., resident Russ Vas Dais as he was about to buy a foreclosed home: He learned the bank selling him the house didn't actually own it. Fannie Mae had foreclosed on the property but, in an apparent
RISMEDIA, December 9, 2010—(MCT)—With demand rising for reverse mortgages, senior citizens are particularly at risk of being misled and should be protected by greater government oversight of the industry, according to a report by Consumers Union and two California advocacy groups. In a struggling economy, older homeowners are turning to reverse mortgages as a way to pull money out of their homes, with the loan not coming due until the borrower dies. But the loans can come with hefty charges, including origination fees, closing costs and compounding interest on loan principal.
RISMEDIA, December 6, 2010—(MCT)—Brightening economic signs are pushing interest rates higher, choking off a surge in home refinancing at the same time that buyers are showing more willingness to purchase houses at today's beaten-down prices. Fannie Mae said that the typical rate
RISMEDIA, December 1, 2010—(MCT)—Long considered a key ingredient of American homeownership, the income-tax deduction for mortgage interest is now on the menu of the commission looking for ways to trim the federal deficit. Among the $3.8 trillion in debt-cutting options being
RISMEDIA, November 29, 2010—The Triangle Multiple Listing Service, Inc. (TMLS) announced that the average sales price for a home re-sale in October 2010 for Durham, Johnston, Orange and Wake counties was $230,500, an increase of 4% over the
RISMEDIA, November 24, 2010—The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the November 2010 edition of the Obama Administration’s Housing Scorecard (www.hud.gov/scorecard
). The latest housing figures show continued signs of stabilization in house prices and high home affordability due in part to record low mortgage interest rates. The housing scorecard is a comprehensive report on the nation’s housing market.
RISMEDIA, November 24, 2010—Impacted by normal seasonal drops in sales, an unpredictable foreclosure moratorium and an expired Tax Credit, residential home sales were lower again in October 2010. A monthly survey of 54 metropolitan areas indicates that sales were 9.8% below
RISMEDIA, November 22, 2010—(MCT)—A larger share of homes entered the foreclosure process in the third quarter, though the delinquency rate for mortgages dropped, the Mortgage Bankers Association recently reported. ...
RISMEDIA, November 22, 2010—Housing affordability remained near its highest level nationwide for the seventh consecutive quarter as interest rates dipped below 5% for the first time since the series was first compiled nearly two decades ago, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). ...
RISMEDIA, November 18, 2010—Southern Californians who feel trapped or simply lack confidence in today’s real estate market can get some relief from regional business and real estate experts who will gather on Wednesday, Dec. 1 from 7-9 pm at the Hotel Del Coronado, 1500 Orange Avenue,
RISMEDIA, November 17, 2010—The Federal Housing Administration (FHA) released its annual report to Congress on the financial status of its Mutual Mortgage Insurance (MMI) Fund, FHA’s principal insurance account that includes all single-family and reverse mortgage activity.
RISMEDIA, November 16, 2010—Every fall, parents wave goodbye as their college-bound kids pack up their belongings, make the drive down university lane and prepare for football games, mid-terms and freedom. While college living is often associated with dorms and campus housing,