Job Growth Surging – So is Fed’s Near-Zero Rate Justified?
The unemployment rate declined by 0.2 percentage point in January to 8.3 percent, the lowest level since February 2009 – the rate has fallen by 0.8 point since August.
Total nonfarm payrolls rose by 243,000 in ...
‘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 ...
Obama: Refi Plan Saves ‘Underwater’ Borrowers $3,000 A Year
In a sweeping new plan to help millions of “underwater” homeowners, President Obama today said borrowers can save $3,000 a year on average if Congress approves his program with a price tag of $5 billion to $10 ...
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, ...
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 ...
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 ...
Obama Urges Mortgage Refi Plan for ‘Responsible Homeowners’
The Obama administration will propose legislation to allow millions of homeowners to refinance at the current, historically low interest rates, and move them into mortgages guaranteed by the Federal Housing Administration.
The ...
