Posts tagged as:

Mortgages

Details on the New Foreclosure Prevention Program

March 5, 2009

The Obama administration announced details of its new foreclosure prevention program yesterday. Interest rates on loans could drop to as low as 2% for some borrowers. The cost to tax payers is expected to be approximately $75 billion.
Under previous programs by the Bush administration, lenders were urged to voluntarily modify mortgages. Even [...]

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Mortgage Rates At Record Lows

January 1, 2009

30 year fixed rate mortgages finished the year at 5.14%. This is the lowest rate since record keeping began in 1964.

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US Foreclosure Activity Map

May 4, 2008
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SubPrime Mortgages Explained

April 19, 2008

I have read a lot about the subprime mortgage crisis, and found most of the explanations a little hard to get my head around.
A friend e-mailed me a link to a presentation (hosted on Google Apps), that I feel, does the best job of explaining the whole subprime mess.
Warning: The presentation does contain adult language, [...]

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Big Mortgage Lenders To Pause Foreclosures

February 12, 2008

Six of the largest US mortgage companies – representing about 50% of the current mortgae market – announced a plan today to suspend foreclosure proceedings on mortgages that are greater than 90 days past due. 
This pause would allow time to attempt renegotiation of mortgage terms.  The plan would include home equity loans and secondary [...]

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Falling Mortgage Rates Creating Refinancing Boom

January 24, 2008

The Mortgage Bankers Association released their Weekly Application Survey yesterday, and it yielded some interesting statistics. 

Applications to refinance are up 92% since the beginning of November, while purchase applications are up 7%.
Refinancing applications represented 66% of the total last week.
The average rate for a 30 year fixed mortgage was 5.49% last week. [...]

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Mortgage Rates Lowest In Over Two Years

January 21, 2008

Unless you have been following the mortgage markets closely, you may have missed the dramatic fall in rates over the last few months.
According to Bankrate.com, the National Average rate for a 15 year fixed mortgage was 4.93% over night, and 5.42% for a 30 year fixed mortgage.
As illustrated by these charts, these rates are [...]

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Mortgage Demand Lowest of 2007

December 27, 2007

Interesting Reuters report featured in USA Today’s money section:
The Mortgage Bankers Association’s seasonally adjusted mortgage application index fell 7.6% in the week ended Dec. 21 to 603.8 — its lowest reading since falling to 575.6 in the Dec. 29, 2006 week.
Source: USA Today

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