After several months of improvement, mortgage delinquencies rose in May, according to loan data tracked by research firm LPS Applied Analytics.
Nearly 9.2% of all loans were 90 days or more past due at the end of May, up from 9% one month earlier. Those numbers exclude the share of loans in foreclosure, which remained unchanged [...]
Posts Tagged ‘real estate’
Signs of Improvement Are Fleeting for Mortgage Delinquencies
July 7th, 2010 by Mortgage Writer
Tags: economic recovery, FHA, financial crisis, foreclosures, Freddie Mac, home loans, housing market, investors, mortgage delinquency, mortgage payments, mortgages, real estate, tax credit
more...Wells Fargo Homeowners Refinance For Lower Mortgage Interest Rate–Will A Lower Mortgage Payment Follow?
July 5th, 2010 by Mortgage Writer
Homeowners with lenders like Wells Fargo have been able to refinance for a lower mortgage interest rate, as rates have remained quite low over the past months. Homeowners have sought a lower monthly mortgage payment also, and for many who refinanced and got a lower interest rate on their home loan, a lower mortgage payment [...]
Tags: financial crisis, home loans, homeowners, lenders, loan, money, mortgage market, mortgage payments, mortgage rates, real estate, tax credit, us interest rates, wells fargo
Advantages of Getting a Fixed Rate Term for Your Mortgage
July 3rd, 2010 by Mortgage Writer
Buying the house that you had always dreamed of is usually the culmination of a successful career. However, since you probably will secure a mortgage to have your dream house, the biggest consideration would most likely center whether you will go for a fixed rate mortgage or adjustable rate mortgage. Naturally, you would want a [...]
Tags: borrowers, financial, home loans, homebuyers, housing market, interest rates, money, mortgage loans, mortgage market, mortgage rates, real estate
U.S. housing market remains fragile despite low mortgage rates
July 2nd, 2010 by Mortgage Writer
After 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.
The sudden weakness in residential real estate has struck nearly [...]
Tags: economic growth, home sales, housing market, interest rates, mortgage payments, mortgage rates, real estate, tax credit, Unemployment Rate, US Economy
What Wall Street reform means for your mortgage
June 29th, 2010 by Mortgage Writer
Predatory lending would likely become a thing of the past if proposed regulatory reform rules are put into practice. And that may mean that mortgages get more expensive and more difficult to get, lenders warn.
The new rules, which Congress is expected to vote on this week, require that financial institutions ensure that borrowers can afford [...]
Tags: borrowers, business, financial, financial crisis, home loans, homebuyers, housing market, interest rates, lenders, mortgage, Mortgage Bankers Association, mortgage lenders, mortgage payments, real estate, subprime mortgages, us consumer
Avoiding Mortgage Scams
June 21st, 2010 by Mortgage Writer
The FBI arrested more than one thousand people in a mortgage fraud crackdown last week. And though the government is doing what it can to crack down on fraud, consumers applying for a mortgage or looking for help avoiding foreclosure still need to be cautious. Kelli Grant, Senior Consumer Reporter for SmartMoney.com shares steps you [...]
Tags: borrowers, economy, foreclosure, housing market, loan, money, mortgage lenders, mortgage market, real estate
Mortgage rates rise slightly but remain near record lows
June 18th, 2010 by Mortgage Writer
Lenders are offering an average rate of 4.75% for a 30-year fixed mortgage, up from 4.72% last week, Freddie Mac says.
Mortgage rates rose slightly but remained near record lows this week after lenders reported the first increase in six weeks in the number of loan applications by would-be home buyers. But for the housing market, [...]
Tags: borrowers, financial, Freddie Mac, home loans, homebuyers, housing market, lenders, mortgage banker, mortgage lending, mortgage rates, real estate, tax credit
BofA to pay $108M for Countrywide mortgage abuses
June 8th, 2010 by Mortgage Writer
Bank of America has agreed to pay $108 million to about 200,000 homeowners who paid improper and inflated charges to the defunct subprime mortgage lender that became the poster child of the housing apocalypse, Countrywide Financial.
The Federal Trade Commission said two mortgage-servicing units of Countrywide, which BofA acquired in 2008, “deceived homeowners who were behind [...]
Tags: bank of america, borrower, business, financial, homeowners, housing market, interest rates, mortgage market, mortgage servicer, real estate, subprime mortgages
JPMorgan to Sell $716.3 Million of Mortgage Bonds
June 7th, 2010 by Mortgage Writer
JPMorgan Chase & Co. is marketing $716.3 million of bonds backed by commercial mortgages, according to a person familiar with the offering.
The transaction, which is the second of newly issued commercial-mortgage backed bonds to be sold this year, consists of 36 loans on 96 properties, said the person, who declined to be identified because terms [...]
Tags: borrowers, commercial mortgages, economy, federal reserve, financial, financial crisis, homebuyers, housing market, jpmorgan, mortgage market, real estate, US Economy
15-Year Mortgage Rate Falls Again: Can It Go Any Lower?
June 5th, 2010 by Mortgage Writer
The 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.
t was the third week in a row that the rate hit [...]
Tags: borrowers, business, economic recovery, economy, federal reserve, financial, Freddie Mac, home buyers, home loans, housing market, interest rates, mortgage lenders, mortgage rates, real estate, tax credit, US Economy
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