Obama, Bernanke Spotlight Housing as Path to U.S. Recovery
Both President Obama and Federal Reserve Chairman Ben Bernanke have come under fire for their respective responses to the economic crisis, including actions tied to or affecting the depressed housing market.
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 ...
Fed’s Plosser: Very Low Rates Thru 2014 ‘Undermines’ Process
In a sharp rebuttal, a top central bank official said the Federal Reserve’s outlook of extending near-zero rates through 2014 “risked undermining confidence in the process.”
Philadelphia Federal Reserve President ...
What’s Behind Freddie Mac’s Bet on High-Interest Mortgages?
Taxpayer-subsidized Freddie Mac bet against homeowners’ ability to refinance out of high-interest mortgages, even as it made it difficult for them to do just that, according to a published report by ProPublica ...
HAMP Mortgage-Mod Rules Eased, More Write-Downs Eyed
The Obama Administration is again giving a boost to its much criticized foreclosure rescue campaign by easing mortgage modification rules, tripling incentives to participating lenders and possibly getting Fannie ...
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 ...
Fed Extends Near-Zero Rate ‘Through Late 2014’
The Federal Reserve will hold its benchmark federal funds rate at zero to .25 percent “at least through late 2014,” concluded its monetary policy-setting committee after citing a U.S. economy that has expanded ...
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 ...
Refinancing Jumps as 30-Year Mortgage Slips to Record 3.88%
The 30-year fixed rate mortgage slipped another basis point to set yet another record low at 3.88 percent this week, marking the seventh consecutive week below 4 percent, according to Freddie Mac.
With record or ...
