‘Cash-in’ Refinancing to Lower Mortgage Debt at 26-Year High
The vast majority of refinancing homeowners maintained or reduced their mortgage debt in the fourth quarter, while those paying-in additional money to reduce principal is at a 26-year high, according to an analysis ...
Mortgage Rates Fall to New Lows, 30-Year at 3.87%
Fixed and adjustable rate mortgages slipped back down to new record lows over the past seven days amid somewhat disappointing U.S. economic reports on the gross domestic product, consumer spending and new home sales.
The ...
More Credit, Debit Usage Lifts MasterCard Profit 24%
Consumers relying more on their MasterCard for credit and debit purchases helped the second largest payments processor see a net income of $514 million, or $4.03 a share, in the fourth quarter of 2011 – that’s ...
Home Prices Drop for 3rd Straight Month in November
At least when it comes to home prices, the housing market is still looking for the start of a turnaround.
Twenty U.S. cities saw a combined 3.7 percent drop in home prices for November compared with a year earlier, ...
Fed: Credit Standards Hold As Biz Loan Demand Up
Credit standards on commercial and industrial loans “changed little” in the final months of 2011, just as U.S. banks saw stronger demand for these types of loans, according to the latest quarterly survey of ...
AG: 11 Institutions Subpoenaed in Mortgage Securities Probe
Eleven financial institutions were recently issued subpoenas related to a newly expanded federal-state effort to crack down on misconduct in the mortgage-backed securities market, U.S. Attorney General Eric Holder ...
New Home Sales for 2011 Fall to Lowest on Record
Sales of new single-family homes fell 2.2 percent in December, topping off 2011 as the worst year on record based on existing U.S. housing data since 1963.
The Commerce Department said that 302,000 new homes were ...
30-Year Mortgage Reverses, Up to 3.98% on Positive Data
The 30-year fixed-rate mortgage averaged 3.98 percent over the last seven days, reversing its previous three-week trend of setting all-time record lows, according to Freddie Mac.
Housing market data showed a somewhat ...
Debit Card Use Wavers as Cash Stages Comeback: Survey
Consumers may be returning to the simplicity of paying with cash, and wavering on the use of debit cards, as new regulations have created a confusing purchasing environment.
A report by Javelin Strategy & Research ...
Pending Home Sales Dip, But Trend Still Positive, Realtors Say
Pending home sales dipped in December after reaching a 19-month high, but remained above year-ago levels, according to the National Association of Realtors.
The NAR’s Pending Home Sales Index, an indicator based ...
