Mortgage Delinquency Rate in US Fall to 2008 Levels

Posted on 16 May, 2012

News from BusinessWeek:

The U.S. mortgage delinquency rate declined in the first quarter to the lowest level since 2008 as an improving job market helped more borrowers pay their bills and tighter lending standards resulted in fewer defaults.
The share of home loans at least 30 days late dropped to 7.4 percent from 7.58 percent in the [...]

Jerry Brown budget: ‘It affects my mortgage payment,’ worker says

Posted on 14 May, 2012

News from Los Angeles Times:

Southern California voters weighed in after Gov. Jerry Brown today released a $ 91-billion budget proposal that includes cutting health and welfare spending and reducing state payrolls by 5% to address the state’s deficit, which has grown to $ 16 billion.
“For at least three years now, we’ve had furloughs, [...]

Rate on 30-year mortgage hits record 3.83%

Posted on 13 May, 2012

News from San Francisco Chronicle:

Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week. Cheap mortgage rates have made home buying and refinancing more affordable than ever for those who can qualify.
Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan ticked down to 3.83 percent. [...]

With Mortgage Rates so Low, How to Swing a Refi?

Posted on 11 May, 2012

News from Fox Business:

As mortgage rates hit another record low, some homeowners ponder whether it’s worth reaching into their savings to buy their way into the refinance craze. Others have the privilege of cashing out and reinvesting the money.
The benchmark 30-year fixed-rate mortgage fell to 4.02%, compared to 4.05% the previous week, according to the [...]

Mortgage giant Fannie Mae earned $2.7 billion in Q1, will give $2.8 billion to …

Posted on 09 May, 2012

News from Washington Post:

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Mortgage mess a concern for BofA shareholders – and protesters, too

Posted on 07 May, 2012

News from Chicago Tribune:

Shareholders making their way to Bank of America’s annual meeting in uptown Charlotte on Wednesday may find themselves weaving through scores of protesters angry over everything from coal-project financing to executive pay.
The shareholders have concerns of their own: Bank of America’s stock price has fallen nearly 40 percent since last year’s annual [...]

Mortgage dominance raises concerns

Posted on 06 May, 2012

News from Omaha World-Herald:

Published Sunday May 6, 2012

The Los Angeles Times

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LOS ANGELES — Wells Fargo & Co. has become so dominant in the mortgage business that major investors and federal regulators are worried that a financial hiccup at the giant bank could roil the already beleaguered real estate market.
Wells [...]

Mortgage industry has long way to go to clean up its act

Posted on 04 May, 2012

News from Chicago Tribune:

WASHINGTON _ Nearly two years after the “robo-signing” scandal forced a reboot of the nation’s home-foreclosure process, mortgage servicers have begun the hard work of buffing up their industry’s tarnished image after years of making life miserable for Americans struggling to hold on to their homes.
Changing the industry’s bad behavior will be [...]

Mortgage Rates this week will continue to occupy a record low

Posted on 02 May, 2012

News from The Star-Ledger – NJ.com:

Wednesday, May 02, 2012 3:39 PM

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By roberts NJ.comFollow
And After the second week for Mortgage Rates in realizing been fairly steady from an average fixed rate is hovering just above lows of each note. And according to Freddie Mac data released on Thursday. Provide information that the fixed-rate [...]

Canada’s finance minister frets on housing, debt

Posted on 29 April, 2012

News from Reuters:

TORONTO, April 28 | Sat Apr 28, 2012 10:00am EDT

TORONTO, April 28 (Reuters) – High housing prices and household debt are Canada’s biggest economic concerns, Finance Minister Jim Flaherty said in weekend interviews that also warned of a crash in Toronto’s booming condo market and hinted at a crimped role for the government’s [...]