Are 4% Mortgage Rates the new Norm?

Posted on 17 June, 2013

News from Fox Business:

Mortgage rates climbed for the sixth week in a row, making refinancers and potential homebuyers nervous. If it serves as consolation, rates are likely to stabilize for a few days until the Federal Reserve meets next week.
The benchmark 30-year fixed-rate mortgage rose to 4.14%, compared with 4.1% last week, according to the [...]

Superman’s Fortress of Solitude for sale, super mortgage needed

Posted on 16 June, 2013

News from Fox News:

This week, Superman makes his way back to the big screen in Zack Snyder’s “Man of Steel”, a much needed reboot of the Superman story for the big screen. If you’re a frequent reader of the Movoto blog, you’ll know we were champing at the bit to find a way to tie [...]

US Mortgage Rates Rise for a Sixth Straight Week

Posted on 14 June, 2013

News from Bloomberg:

U.S. mortgage rates rose for a sixth week, extending a surge in interest costs spurred by speculation that the Federal Reserve will scale back stimulus efforts.
The average rate for a 30-year fixed mortgage climbed to 3.98 percent, a 14-month high, from 3.91 percent last week, McLean, Virginia-based Freddie Mac (FMCC) said in a [...]

BofA’s shrunken mortgage business growing a bit, CFO says

Posted on 12 June, 2013

News from Los Angeles Times:
Having slashed away much of its troubled mortgage business, Bank of America Corp. is now growing the what remains, the company’s chief financial officer says.

CFO Bruce Thompson told analysts that Bank of America, once the nation’s largest mortgage lender but now with just 4% of the market, is “getting what we [...]

What Rising Rates Mean for the Mortgage Market

Posted on 10 June, 2013

News from Businessweek:

The refi boom may be coming to an end. Since the Federal Reserve began pushing down rates in early 2009, refinancing has accounted for more than half of all new mortgages and in some periods has represented almost 80 percent of all new loans. Now, with the economy slowly recovering and the Fed [...]

On the House: Mortgage deduction’s coastal tilt

Posted on 09 June, 2013

News from Philly.com:

Alan J. Heavens, Inquirer Real Estate Columnist
Posted: Sunday, June 9, 2013, 3:00 AM

Push-and-shove over the value of the mortgage-interest deduction isn’t abating. And there are some new data that support economists who contend the deduction benefits higher-end homeowners more.
A study by the Pew Charitable Trust shows that most of those who [...]

Checks to be sent next week to 10000 mortgage borrowers in Maryland

Posted on 05 June, 2013

News from Baltimore Sun:

By Steve Kilar, The Baltimore Sun
1:33 p.m. EDT, June 5, 2013

Checks totaling more than $ 15 million will be sent beginning next week to more than 10,000 Maryland mortgage borrowers, Attorney General Douglas F. Gansler announced Wednesday.
The checks, roughly $ 1,480 each, will be sent between June 10 and June [...]

Bank of America $8.5 billion mortgage settlement case opens

Posted on 03 June, 2013

News from Reuters:

The logo of the Bank of America is pictured atop the Bank of America building in downtown Los Angeles November 17, 2011.
Credit: Reuters/Fred Prouser

By Karen Freifeld
NEW YORK | Mon Jun 3, 2013 7:54pm EDT

NEW YORK (Reuters) – Bank of America Corp’s (BAC.N) proposed $ 8.5 billion settlement with investors in mortgage securities [...]

Surge in US mortgage rates could force buyers off the fence

Posted on 29 May, 2013

News from Reuters:

Homes that are valued at over $ 1 million, sit along Bersano Lane in Los Gatos, California September 6, 2012.
Credit: Reuters/Norbert von der Groeben

By Leah Schnurr
NEW YORK | Wed May 29, 2013 3:05pm EDT

NEW YORK (Reuters) – Worries the Federal Reserve may begin to slow its stimulus efforts sent U.S. mortgage rates [...]

Indonesia Studying Tighter Mortgage-Loan Rules, Warjiyo Says

Posted on 27 May, 2013