More Mortgage News
Inflation Fears Boost Mortgage Rates
Mortgage rates ticked upward this week, nudged by higher-than-expected inflation data that drove up the cost of borrowing.
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Study: Loan Mods Cut Investor Losses
Granting loan modifications on troubled mortgages typically makes better financial sense than going to foreclosure, even if borrowers are likely to redefault, a new study claims.
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Rates Predicted to Begin Rising Soon
Though mortgage rates have cooled off recently, expect them to start inching up again soon and continue rising through the rest of the year.
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New Home Sales Plunge to Record Low
New home sales plummeted in February, falling to their lowest level in nearly half a century of record-keeping.
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Mortgage Rates Largely Unchanged
Mortgage rates held steady last week, posting only slight changes and encouraging more homeowners to seek to refinance existing home loans.
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Freddie Puts Mortgage Help on YouTube
In an effort to educate homeowners about loan modifications and coping with foreclosure, Freddie Mac is turning to YouTube.
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MBS Sales Could Lead to Higher Rates
After two years of efforts to keep mortgage and other interest rates low, the Treasury Department is beginning to take steps that will likely encourage rates to increase over time.
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Mortgage Delinquencies Keep Falling
The number of mortgages in delinquency continues to fall and has shrunk by nearly one-fifth over the past year, according to new figures released today by Lender Processing Services (LPS).
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Housing Sales Suffer Setback
The housing market suffered a setback in February, as existing home sales took a sharp drop after three straight monthly increases.
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Homes Still a Favored Investment
Americans still tend to think that buying a home is one of the best investments you can make, despite the battering home values suffered heading into the Great Recession.
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Homes Taking Even Longer to Sell
It’s getting harder to sell a home, as the length of time the average property stayed on the market has hit its highest level since before the 2008 market crash.
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Killing HAMP Called Destabilizing
Ending HAMP and other anti-foreclosure programs would further destabilize an already weak housing market, a top Treasury official told a Senate panel Thursday.
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Lawsuit Filed Over Loan Mod Denials
A class action lawsuit has been filed against CitiMortgage in New Jersey, alleging that the lender improperly denied mortgage loan modifications to borrowers while reaping the financial benefits of a federal program meant to provide them.
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Housing Starts Show Weakness
Initial construction activity for single-family homes fell in February to its lowest level since the worst of the economic crunch and to one of its lowest levels in half a century of record-keeping.
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Mortgage Rates Post Significant Drop
Mortgage rates posted a big decline last week, although borrowers didn’t respond with renewed efforts to refinance current mortgages.
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Fed Keeping Lid on Rates – For Now
The Federal Reserve has said it plans to continue its policy of promoting low interest rates, which have been a boon for mortgage borrowers, at least for the near future.
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Tight Credit Limits Home Construction
Homebuilders are looking ahead to the spring buying season with slightly more optimism than before, but their overall outlook remains glum.
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Big Banks Accept FHA Short Refinance
The nation’s five largest mortgage servicers have all agreed to participate in FHA’s Short Refinance Program for underwater borrowers, providing a major boost to the struggling program.
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HARP Refinance Program Extended
The government-backed HARP program, which enables some underwater homeowners to refinance their mortgages, is being extended for another year.
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Home Prices Falling in Western U.S.
Home price trends in the western United States have been moving in an opposite direction from the rest of the country in recent months, with price declines accelerating even as rest of the country shows increasing signs of stability.
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