Mortgage Rates Stay Low, But So Does Loan Demand
Wednesday, March 16th, 2011Can anyone say “tax-credit-induced hangover”? Mortgage rates are still near 50 year lows, but demand for new-purchase mortgages fell for the fourth straight week to a new 13-year low, according to the Mortgage Bankers Association.
BofA: Mortgage Walkaways Have Huge Incentive
Wednesday, March 16th, 2011This morning executives at Bank of America [BAC 15.922 0.032 (+0.2%) ] rolled out their new “Principal Reduction Enhancement” program, which is an earned principal forgiveness plan for borrowers behind on their mortgages and whose loans are at least 20 percent underwater in value.
15-Year Mortgage Rate Falls Again: Can It Go Any Lower?
Wednesday, March 16th, 2011The average interest rate for a 15-year fixed-rate mortgage hit a new historic low on Friday — 4.20 percent, down slightly from 4.21 last week. The last time the 15-year rate was that low was August 1991, when Freddie Mac began its weekly survey.
Housing starts solid as mortgage rates watched
Wednesday, March 16th, 2011Island residential construction jumps 37%, signalling stronger economic conditions. The house-building industry is back producing homes at a rate comparable pre-recession rates in 2008.
Mortgage rates rise slightly but remain near record lows
Wednesday, March 16th, 2011Lenders are offering an average rate of 4.75% for a 30-year fixed mortgage, up from 4.72% last week, Freddie Mac says.
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