Despite Record Rates, Mortgage Activity Sluggish
Wednesday, March 16th, 2011U.S. housing market remains fragile despite low mortgage rates
Tuesday, March 15th, 2011After showing signs of a fledgling recovery from the worst downturn in decades, the U.S. housing market appears to be heading back toward the doldrums, as the expiration of a lucrative tax credit for buyers and increased uncertainty about the economy cause home sales to plummet.
Mortgage applications rise 4.9 pct. on low rates
Monday, March 14th, 2011Mortgage applications rose 4.9 percent last week as more borrowers refinanced at the lowest rates in decades.
Foreclosure halt may have lasting impact on local homeowners
Sunday, March 13th, 2011Three of the nation’s largest mortgage lenders have halted property foreclosures in many states — including Utah. Bank of America, GMAC and JPMorgan Chase suspended foreclosures while each institution reviews the handling of thousands upon thousands of mortgage documents following allegations of possible mortgage fraud.
Citi Braces for Mortgage Buybacks
Sunday, March 13th, 2011Citigroup’s (C_) third-quarter mortgage repurchase reserves jumped by 30% from the previous quarter — to $952 million — which was also more than triple what the the bank had reserved during the same period last year.