Treasury Secretary Timothy Geithner said Sunday the government should retain “some type” of federal guarantee to ensure that Americans can easily finance home loans, in what could be the latest salvo between the Obama administration and Republicans over the future role of the public sector in the housing market.
The statement cuts to the heart of [...]
Posts Tagged ‘tax credit’
Geithner: U.S. Should Retain a Mortgage Backstop
July 26th, 2010 by Mortgage Writer
Tags: borrowing, fannie mae, financial crisis, Freddie Mac, home loans, homeowners, housing market, investors, mortgage, tax credit
more...Fannie Mae Subpoenas May Find $30 Billion of Bad Mortgages, Analyst Says
July 21st, 2010 by Mortgage Writer
Fannie Mae and Freddie Mac’s regulator may identify as much as $30 billion of debt included in mortgage bonds that the companies can force sellers to repurchase, according to Joshua Rosner, an analyst who in 2007 predicted the collapse in the market for the securities.
The Federal Housing Finance Agency this month said it issued 64 [...]
Tags: bank of america, economists, fannie mae, Federal Housing, financial market, Freddie Mac, housing market, investors, loan, money, mortgage bonds, mortgage securities, subprime mortgages, tax credit, treasurys, wall street
Real Estate Matters: Windfall lets 15-year mortgage work
July 18th, 2010 by Mortgage Writer
We are looking at refinancing this week. We have about $250,000 equity in our home on a 30-year mortgage at 6.2 percent. We are three years into the mortgage. We are in our mid-50s. We know we will stay in this home for at least seven more years. We have just come into a very [...]
Tags: financial, foreclosures, homebuyers, housing market, interest rates, loans, mortgage, mortgage market, mortgage payments, mortgages, real estate, subprime mortgages, tax credit, US Economy
Mortgage-Bond Yield Spreads Approach Lowest Level on Record
July 14th, 2010 by Mortgage Writer
Fannie Mae’s current-coupon 30-year fixed-rate mortgage bonds narrowed 0.03 percentage point to about 0.65 percentage point more than 10-year Treasuries as of 4:45 p.m. in New York, according to data compiled by Bloomberg. The gap reached 0.59 percentage point on March 29, two days before the Federal Reserve ended its buying of $1.25 trillion of [...]
Tags: borrowers, central bank's, fannie mae, federal reserve, home loans, jpmorgan, Mortgage Bankers Association, mortgage bonds, mortgage market, mortgage securities, tax credit
Signs of Improvement Are Fleeting for Mortgage Delinquencies
July 7th, 2010 by Mortgage Writer
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 [...]
Tags: economic recovery, FHA, financial crisis, foreclosures, Freddie Mac, home loans, housing market, investors, mortgage delinquency, mortgage payments, mortgages, real estate, tax credit
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
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
Mortgage delinquencies fall but foreclosures up sharply
July 1st, 2010 by Mortgage Writer
For the first time in two years, fewer homeowners are missing mortgage payments, Treasury Department regulators reported Wednesday, but foreclosures are surging as many loan-modification efforts fail.
Three years have passed since the mortgage debacle made most sub-prime and nontraditional loans unavailable, and most loans since have been “plain vanilla” fixed-rate mortgages to prime-credit borrowers. The [...]
Tags: commerce department, financial market, foreclosures, home foreclosures, homeowners, housing market, loan modifications, Mortgage Bankers Association, mortgage payments, prime loans, tax credit
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
US mortgage rates steady, 30-yr at 4.75 pct-Freddie
June 17th, 2010 by Mortgage Writer
U.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.
Fixed mortgage rates rose marginally, while adjustable rates slipped in the week ended June 17.
The average 30-year home loan rate rose 0.03 percentage point to [...]
Tags: economic recovery, economy, Freddie Mac, home loans, homebuyers, money, mortgage market, mortgage rate, mortgages, tax credit, US Economy
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