The inventory of properties close to foreclosure has been growing. A supply of 1.7 million homes headed for sale because of foreclosure or delinquency looms over the nation’s housing market, which could dampen progress toward recovery should the Obama administration fail in its efforts to aid struggling homeowners, researchers said.
A variety of measures to keep [...]
Archive for December, 2009
More Homes Will Hit The Market
December 28th, 2009 by Mortgage Writer
more...More prime mortgages default in 3rd quarter
December 22nd, 2009 by Mortgage Writer
Troubled home loans continued to mount in the nation’s banks in the third quarter as even once-solid borrowers increasingly fell behind on their mortgage payments.
For the first quarter ever, the number of homes in foreclosure with mortgages serviced by U.S. national banks and savings and loans topped the 1-million mark, according to figures released Monday [...]
Tags: bankrupty, borrowers, foreclosure, home loan, homeowners, loan, mortgage, mortgage payments, Obama, primer mortgages
Mortgage owner at risk of default
December 21st, 2009 by Mortgage Writer
The listed mortgage owner RHG risks being in default on $2.5 billion in financing for its mortgages - or about a third of its business - after it lost a NSW Supreme Court case last week.
The danger was revealed for the first time yesterday after the German bank HVB successfully argued in court that RHG [...]
Tags: financiall crisis, home loans, mortgage, mortgage owner
Seasonal Slowdown Sees Mortgage Lending Fall
December 18th, 2009 by Mortgage Writer
Mortgage lending fell by 10% in November as the market experienced its traditional seasonal slowdown, the latest figures have shown.
A total of £12 billion was advanced during the month, down from £13.3 billion in October and 14% less than in November last year, according to the Council of Mortgage Lenders (CML).
The group said a modest [...]
Tags: Council of Mortgage Lenders, mortgage, mortgage lending, mortgage rates
Mortgage rates rise to 4.94%, Freddie Mac says
December 17th, 2009 by Mortgage Writer
The rate for the week ended today increased to 4.94% from 4.81%. It set a record low 4.71% in the week ended Dec. 3. The average 15-year rate was 4.38%, the McLean, Virginia-based company said today in a statement.
“We’re probably seeing a bottoming process in the mortgage rates,” said George Mokrzan, senior economist at Huntington [...]
Tags: fannie mae, Freddie Mac, Ginnie Mae, home loans, lenders, mortgage, mortgage rates, National Bank in Columbus, The Mortgage Bankers Association
Current Mortgage Rates at 4.92%
December 16th, 2009 by Mortgage Writer
30-year mortgage rates increased slightly in this week’s Mortgage Applications Survey released by the Mortgage Bankers Association (MBA). The average contract interest rate for 30 year mortgages rose to 4.92 percent, up from last week’s average 30 year mortgage rate of 4.88 percent. Average mortgage discount points were down to 1.08 points from 1.17 points.
Looking [...]
Tags: home equity, loan, mortgage, Mortgage Bankers Association, mortgage loan, mortgage rates
Mortgage lending up by 20%
December 15th, 2009 by Mortgage Writer
Mortgage lending has increased but repossessions are also back on the up, according to new data released today by the FSA.
New loans being issued totalled £40 billion in the three months up to September 2009, an increase of 20 per cent on the previous quarter, the FSA’s statistic reveal.
However, this was still lower than the [...]
Tags: borrowers, homeowners, lenders, loans, mortgage, mortgage lenders, mortgage lending
Mortgage holders paying £200 a month less
December 14th, 2009 by Mortgage Writer
The BoE made the assessment after conducting a survey on 2,000 households who said that at least half of them have noticed falling monthly payments of over £100 over the last year, with almost a quarter benefiting by more than £200.
The result of the survey, published by the BoE in its Quarterly Bulletin, showed that [...]
Tags: BoE, economic crunch, homeowners, householders, mortgage, mortgage loan
Florida mortgage modifications lag behind rest of U.S.
December 11th, 2009 by Mortgage Writer
Under President Barack Obama’s program to reduce foreclosures, fewer than 35,000 troubled South Floridians have had their mortgages modified, less than 5% of those who qualify for help.
Figures from a U.S. Treasury Department report Thursday offer little good news for the hundreds of thousands of Florida homeowners who are behind on their mortgage payments and [...]
Tags: barack obama, borrowers, foreclosure, homeowners, lenders, loans, mortgage, mortgage holders, mortgage modification, mortgage payments, real estate, wells fargo
Mortgages to buy rise again
December 10th, 2009 by Mortgage Writer
Mortgages for new house purchases rose to the highest level for nearly two years in October, data from the Council of Mortgage Lenders indicated today.
The number of loans for house purchase in the UK reached 55,300 in October, its highest level since December 2007, the CML said, while the number of buyers has risen 140% [...]
Tags: borrowers, loans, mortgage, mortgage lenders