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 [...]
Archive for the ‘news’ Category
Seasonal Slowdown Sees Mortgage Lending Fall
December 18th, 2009 by Mortgage Writer
Tags: Council of Mortgage Lenders, mortgage, mortgage lending, mortgage rates
more...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
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
Rudd gives Westpac a caning over mortgage rate rise
December 9th, 2009 by Mortgage Writer
WESTPAC is facing increased political pressure over its decision to increase mortgage rates by almost double the Reserve Bank rise, as the bank’s senior executives admit the institution’s reputation has taken a hit.
Kevin Rudd weighed into debate yesterday, saying the bank’s unprecedented 45 basis point increase in mortgage rates to 6.76 per cent was a [...]
Tags: business banking, loan, mortgage holders, mortgage rate, Prime Minister, rate crisis
FHA Developing Method to Mathematically Determine Reverse Mortgage Eligibility
December 8th, 2009 by Mortgage Writer
The Federal Housing Administration will issue preliminary regulations that would be the first step in developing a method to mathematically determine a borrower’s eligibility for a reverse mortgage said Meg Burns, the director of the FHA’s office of single-family program development in a New York Times article.
The administration recently implemented a new set of standards [...]
Tags: borrowers, mortgage, NY times, The Federal Housing Administration, wells fargo
Bank of America says it modified 600,000 mortgages since January 2008
December 7th, 2009 by Mortgage Writer
Bank of America Corp. said Monday it has provided mortgage relief through loan modifications for more than 600,000 homeowners since January 2008.
The renegotiated loans were done through its own programs and the government’s Home Affordable Modification Program, the bank said.
Bank of America has concluded more than 450,000 loan modifications since January 2008 under its own [...]
Tags: bank of america, Home Affordable Modification Program, homeowners, Lehman Brother, loan modifications, mortgage
Oregon’s mortgage pain spreads to prime borrowers
December 7th, 2009 by Mortgage Writer
Nearly one in 10 Oregon homeowners was late on at least one mortgage payment this fall, the highest rate on record, and those troubles are expected to grow worse into 2010.
The Mortgage Bankers Association says about 9.4 percent of Oregon’s 631,000 mortgages were delinquent or in foreclosure [...]
Tags: borrowers, foreclosure, good credit, homeowners, mortgage, mortgage payment, prime loans, subprime loans, The Mortgage Bankers Association
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