Tax-credit deadline passes, mortgage applications swoon
Wednesday, March 16th, 2011You didn’t need to wait long for a sign of what the end of the home buyer tax credit program means: Mortgage applications by buyers fell 27 percent last week — following a 10 percent drop the week before — to their lowest level in 13 years.
Expiring tax credits boost new home sales; mortgage rates, falling prices help
Wednesday, March 16th, 2011New home sales surged last month as home buyers rushed to take advantage of tax credits that have helped lift the housing market, according to government data released Wednesday. Sales of new single-family homes rose 14.8 percent in April, compared with March, to a seasonally adjusted annual rate of 504,000, according to Commerce Department data. [...]
JPMorgan to Sell $716.3 Million of Mortgage Bonds
Wednesday, March 16th, 2011JPMorgan Chase & Co. is marketing $716.3 million of bonds backed by commercial mortgages, according to a person familiar with the offering.
Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case
Wednesday, March 16th, 2011The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in American history.
US mortgage rates steady, 30-yr at 4.75 pct-Freddie
Wednesday, March 16th, 2011U.S. mortgage rates held steady at or near record lows in the latest week, home funding company Freddie Mac said on Thursday, with new housing data indicating market momentum is muted.
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