Mortgage News Jan 2009
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US MBA Mortgage Survey Table Of Current Interest Rates
Change in Contract Rate (bps) Effective Total Contract 1 Week 4 Weeks 1 Year Rate Points Rate Ago Ago Ago 30-Year Fixed 5.13 1.20 4.89 -18 -29 -73 15-Year Fixed 4.92 1.14 4.63 -3 -29 -43 ARM, 1-Yr Tsy 5.91 0.11 5.89 -2 -75 12 FHA 203 (b) 5.11 1.08 4.92 -17 -25 -72 All rates except FHA 203(b) are for 80% loan-to-value mortgage. (Wed, 14 Jan 2009 12:09:03 GMT)
Refinance applications highest in MBA's survey
The rush among homeowners to take advantage of lower interest rates shows no sign of abating, judging from the latest survey data compiled by the Mortgage Bankers Association. (Wed, 14 Jan 2009 12:21:57 GMT)
U.S. mortgage applications up as refinancing jumps
NEW YORK, Jan 14 (Reuters) - U.S. mortgage applications jumped in the first full week of 2009 as record low interest rates spurred the greatest demand for home refinancing loans in over 5-1/2 years, data from an industry group showed on Wednesday. (Wed, 14 Jan 2009 12:23:21 GMT)
Mortgage applications up as refinancing jumps
Mortgage applications jumped in the first full week of 2009 as record low interest rates spurred the greatest demand for home refinancing loans in over 5-1/2 years, data from an industry group showed on Wednesday. (Wed, 14 Jan 2009 12:26:29 GMT)
Mortgage applications up as refinancing jumps
By Julie Haviv (Wed, 14 Jan 2009 12:26:29 GMT)
Mortgage applications up as refinancing jumps
NEW YORK (Reuters) - Mortgage applications jumped in the first full week of 2009 as record low interest rates spurred the greatest demand for home refinancing loans in over 5-1/2 years, data from an industry group showed on Wednesday. (Wed, 14 Jan 2009 12:26:29 GMT)
Banking giant HSBC launches mortgage below 3%
Banking giant HSBC launched a mortgage with a record low rate of below 3% today. The Premier two-year discount deal is priced at 0.95% below the group's standard variable rate (SVR), meaning borrowers will pay 2.99% when the latest interest rate cut comes into effect on February 6. (Wed, 14 Jan 2009 12:52:55 GMT)
HSBC offers record low mortgage rate
Banking giant HSBC launched a mortgage with a record low rate of below 3% today. (Wed, 14 Jan 2009 13:07:21 GMT)
Reliance Cap gets NHB nod for home loan business
It has also got the Reserve Bank's nod to set up a non-banking finance company subsidiary for its consumer loan business, which would primarily focus on vehicle loans and lending to SMEs. Both HFC and consumer finance subsidiaries would be in place in the next two months, and the employees currently working with the related businesses at Reliance Consumer Finance Ltd would be relocated to the ... (Wed, 14 Jan 2009 13:41:27 GMT)
Mortgage Applications Up as Refinancing Jumps
U.S. mortgage applications jumped in the first full week of 2009 as record low interest rates spurred the greatest demand for home refinancing loans in over 5-1/2 years, data from an industry group showed on Wednesda (Wed, 14 Jan 2009 13:42:26 GMT)
Got a home loan query?
Have a query regarding your home loan? Maybe we can help. Drop us a line and our expert, Harsh Roongta, will answer it. (Wed, 14 Jan 2009 14:07:59 GMT)
Mortgage Applications Increase As Refinancing Hits 5-Year High
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume increased 15.8 percent last week, as average interest rates decreased across the board and the refinance index soared over 25 percent to its highest level since 2003. (Wed, 14 Jan 2009 14:15:30 GMT)
CORRECTED-US mortgage applications up as refinancing jumps
NEW YORK, Jan 14 (Reuters) - U.S. mortgage applications jumped in the first full week of 2009 as record low interest rates spurred the greatest demand for home refinancing loans in over 5-1/2 years, data from an industry group showed on Wednesday. (Wed, 14 Jan 2009 16:23:46 GMT)
Banks take the axe to new mortgage rates
Certain borrowers can now secure a mortgage rate below 3 per cent as lenders have taken the axe to their new deals following last week’s base rate cut. (Wed, 14 Jan 2009 17:12:36 GMT)
Northern Rock cuts mortgage rates
Government-owned Northern Rock is the latest lender to cut its mortgage rates in the wake of last week's cut in Bank Rate. (Wed, 14 Jan 2009 17:15:09 GMT)
UPDATE 1-US mortgage refinancing demand jumps
NEW YORK, Jan 14 (Reuters) - U.S. mortgage applications jumped last week as record low interest rates spurred the greatest level of refinance demand in 5-1/2 years, although fewer potential buyers sought loans, data from an industry group showed on Wednesday. (Wed, 14 Jan 2009 17:39:24 GMT)
UPDATE 1-US mortgage refinancing demand jumps
NEW YORK, Jan 14 (Reuters) - U.S. mortgage applications jumped last week as record low interest rates spurred the greatest level of refinance demand in 5-1/2 years, although fewer potential buyers sought loans, data from an industry group showed on Wednesday. (Wed, 14 Jan 2009 17:39:44 GMT)
Refinancing update: Mortgage rates tumble again
The Mortgage Bankers Association reported today that the average 30-year, fixed-rate mortgage fell from 5.07 percent to 4.89 percent over the past week. The average 15-year, fixed-rate mortgage, meanwhile, fell from 4.67 percent to 4.63 percent. (Wed, 14 Jan 2009 18:10:48 GMT)
MONEY $MARTS: Different mortgage strategies
Two different mortgage strategies are currently in vogue -- one, refinancing, stems from the record-low 30-year fixed rate now available; the other, prepaying, emanates from the lack of investment opportunities in the bear market. Here’s a quick analytical look at both alternatives. (Wed, 14 Jan 2009 18:18:59 GMT)
Mortgage Bankers Association: Low interest rates spur refinancings
The Mortgage Bankers Association reports that mortgage applications in the U.S. jumped in the first full week of 2009 as record-low interest rates spurred the greatest demand for home refinancing in more than five and one-half years. (Wed, 14 Jan 2009 19:04:17 GMT)
Should You Refinance?
Mortgage rates are at a record low, homeowners looking to save money in this economy are asking if now is a good time to refinance. Tracy Davidson speaks to an expert who has helpful advice, that could help protect your pocketbook. First, let's talk about what it means to refinance. (Wed, 14 Jan 2009 19:33:56 GMT)
Your Money: Mortgage Expert John Woodhouse Offers Advice
Mortgage advisor John Woodhouse speaks with NBC 17 and offers advice for you. (Wed, 14 Jan 2009 20:02:20 GMT)
R-Cap gets nod for home loan business
Anil Ambani group's Reliance Capital said it has received the necessary regulatory approval to set up a housing finance subsidiary and expects to become a leading player in the home loan business over the next 3-5 years. (Wed, 14 Jan 2009 20:04:48 GMT)
Mortgage applications rise as rates hit record lows
Mortgage applications jumped in the first full week of 2009 as record low interest rates spurred the greatest demand for refinancing home loans in more than 5-1/2 years, according to data from the Mortgage Bankers Association. (Wed, 14 Jan 2009 20:38:54 GMT)
One borrowers in arrears prevents up to 80 other customers getting a mortgage
Just one borrower in arrears on their mortgage prevents banks lending up to 80 new customers the Council of Mortgage Lenders has revealed. (Wed, 14 Jan 2009 22:13:42 GMT)
Tougher Rules Imposed On Mortgage Industry
Pennsylvania's banking regulators are imposing tougher rules on the mortgage industry to better protect homeowners. Beginning in March, lenders and brokers will have to make sure consumers can afford to repay and clearly understand the terms of the loans. (Wed, 14 Jan 2009 23:06:32 GMT)
HSBC introduces a 2.99% mortgage deal - but only for the chosen few
One of Britain’s biggest mortgage lenders has launched its cheapest home loan since it started lending in 1979. The deal from HSBC raised hopes that other lenders will rush to introduce copycat offers. (Wed, 14 Jan 2009 23:48:06 GMT)
Benchmark US mortgage rates hit record low
The average rate for benchmark US mortgages fell to a record low level last week, according to the Mortgage Bankers Association. (Thu, 15 Jan 2009 00:27:01 GMT)
Mortgage rate drop may not lure borrowers
Mortgage interest rate cuts like those announced by ANZ National Bank on Thursday may not stimulate demand for home loans because borrowers are worried about their jobs. (Thu, 15 Jan 2009 02:09:10 GMT)
BNZ, Kiwibank cut home loan rates
The Bank of New Zealand and Kiwibank have joined the rush to reduce home loan rates ahead of the Reserve Bank's Official Cash Rate (OCR) review on January 29. (Thu, 15 Jan 2009 02:18:13 GMT)
Mortgage rates keep falling as BNZ, Kiwibank jump aboard
BNZ is dropping its fixed mortgage rates by between 21 and 90 basis points and Kiwibank has joined in, dropping both its fixed and floating rates. Kiwibank's new floating, or variable, rate is 6.99 per cent. (Thu, 15 Jan 2009 02:56:32 GMT)
Money matters: Borrowers lining up to refinance homes
With interest rates in the basement homeowners are lining up to refinance, although it might not be the move for everyone, experts say. (Thu, 15 Jan 2009 04:24:59 GMT)
Mortgage modification fails to slow state, Inland foreclosures
A California law that requires mortgage lenders to give customers 30 days notice before filing a default, appears to have only postponed the problems of financially troubled homeowners rather than resolved them. (Thu, 15 Jan 2009 05:29:16 GMT)
Refinance Flurry Not Just About Lower Rates: Mortgage Industry Insider's Advice Can Save an Additional $10,000 to ...
With mortgage rates at a 40-year low, consumers are lining up to refinance their loans or take out new mortgages. Mortgage expert Dale Vermillion's new book, "Navigating the Mortgage Maze: The Simple Truth About Financing Your Home"(Northfield Publishing, January 2009), provides advice that can save borrowers thousands of dollars. (Thu, 15 Jan 2009 07:01:00 GMT)
Osasuna send Margairaz on-loan to FC Zurich
Osasuna have sent midfielder Xavier Margairaz home to Switzerland. Margairaz has joined FC Zurich on-loan for the remainder of the season after failing to settle in Spain. (Thu, 15 Jan 2009 07:07:47 GMT)
Faded prosperity highlights Pinal County mortgage ills
The outlying communities on the eastern side of metropolitan Phoenix are feeling sharp financial pains, wounded by a mortgage crisis that has slowed, if not stalled, development. (Thu, 15 Jan 2009 07:34:53 GMT)
Mortgage lending still falling
New mortgage lending continued to fall in November, according to the latest figures from the Council of Mortgage Lenders. (Thu, 15 Jan 2009 10:18:27 GMT)
Mortgage lending at record low
Mortgage lending more than halved during the 12 months to November as house prices kept falling and banks continued to tighten their lending criteria. (Thu, 15 Jan 2009 10:52:00 GMT)
30-year fixed mortgage rate ties record low
The benchmark 30-year fixed-rate mortgage fell 5 basis points, to 5.28 percent, according to the Bankrate.com national survey of large lenders. (Thu, 15 Jan 2009 11:00:00 GMT)
30-year fixed-rate mortgage ties record low
Government gives, and government takes away. The Federal Reserve is thought to be behind the 2-month-long decline in mortgage rates. Meanwhile, Fannie Mae, which is operating under federal conservatorship, is raising fees on some borrowers. (Thu, 15 Jan 2009 11:53:15 GMT)
Xceed Mortgage posts $12-million loss
Xceed Mortgage Corp. widened its fiscal 2008 loss from year-earlier levels despite reporting profits in three out of four quarters. (Thu, 15 Jan 2009 12:22:45 GMT)
Mortgage approvals drop to record low
The number of mortgages approved for buying a new home has dropped to a record low with firsttime buyers being the worse hit according to figures from the Council of Mortgage Lenders CML. (Thu, 15 Jan 2009 12:28:42 GMT)
Mortgage Servicing, WaMu Gain Keep Morgan Retail In Green
Mortgage Servicing, WaMu Gain Keep Morgan Retail In Green (Thu, 15 Jan 2009 13:12:28 GMT)
Bankrate: 30-year Fixed Mortgage Rate Declines Again
Bankrate: 30-year Fixed Mortgage Rate Declines Again (Thu, 15 Jan 2009 13:27:46 GMT)
Freddie Mac: 30-year Mortgage Rate Falls For 11th Week
Freddie Mac: 30-year Mortgage Rate Falls For 11th Week (Thu, 15 Jan 2009 15:57:36 GMT)
Mortgages: Benchmark 30-year mortgage falls below 5% for first time
The benchmark 30-year mortgage fell below 5% for the first time ever in Freddie Mac’s weekly rate survey as economic weakness continued to push interest rates lower, the mortgage agency said. (Thu, 15 Jan 2009 16:22:23 GMT)
NewsWatch: Benchmark 30-year mortgage falls below 5% for first time
The benchmark 30-year mortgage fell below 5% for the first time ever in Freddie Mac’s weekly rate survey as economic weakness continued to push interest rates lower, the mortgage agency said. (Thu, 15 Jan 2009 17:21:46 GMT)
30-Year Mortgage Falls Below 5% in Freddie Mac Survey
The 30-year mortgage rate fell to 4.96% in the week ending Jan. 15, marking the first time it fell below 5% in Freddie Mac’s (FRE) weekly rate survey. (Thu, 15 Jan 2009 18:12:56 GMT)
U.S. Fixed Mortgage Rate Hits Record Low of 4.96% (Update2)
Jan. 15 (Bloomberg) -- The average U.S. rate on a 30-year fixed mortgage fell below 5 percent this week for the first time on record as a government program to buy mortgage-backed bonds lowered borrowing costs. (Thu, 15 Jan 2009 18:35:08 GMT)
Low Mortgage Rates Boost Refinancing Applications, but There's a Catch
Many folks who want to refinance their home loans won't be able to. (Thu, 15 Jan 2009 19:17:04 GMT)
Mortgage rates hit new low
Mortgage rates continue to fall to record lows. (FRE) (Thu, 15 Jan 2009 19:24:04 GMT)
Many Home Buyers Need Higher Loan Limits, Upper-End Stalled
The drop in mortgage loan limits for conventional financing at the end of 2008 is hurting home sales and trade-up activity in higher price ranges across the country, according to the National Association of Realtors®. (Thu, 15 Jan 2009 19:46:00 GMT)
Federal Home Loan Banks Sell Debt at Lower Spreads (Update2)
Jan. 15 (Bloomberg) -- The Federal Home Loan Bank system, the government-chartered cooperatives that may be running low on capital, sold $3.5 billion of two-year debt at lower yields relative to benchmarks. (Thu, 15 Jan 2009 20:25:13 GMT)
Mortgage rates fall to 38-year low
WASHINGTON, Jan. 15 (UPI) -- Interest rates for 30-year, fixed-rate U.S. mortgages fell to the lowest level since 1971, the Federal Home Loan Mortgage Corp. said Thursday. (Thu, 15 Jan 2009 21:04:30 GMT)
When You Should Refinance Your Mortgage
Low interest rates have spurred a flood of mortgage refinancing by homeowners eager to cut costs in the slow economy. But how do you know when it's time? A local banker said the rates must be low and your credit score must be high. (Thu, 15 Jan 2009 22:04:31 GMT)
Fed Buys $23.4 Billion of Mortgage Bonds to Cut Rates (Update2)
Jan. 15 (Bloomberg) -- The Federal Reserve bought $23.4 billion of Fannie Mae, Freddie Mac and Ginnie Mae mortgage bonds as part of the central bank’s efforts at “credit easing.” (Thu, 15 Jan 2009 23:24:01 GMT)
Mortgage rates plunge to a new low
MORTGAGE DEALS Here's what some local banks were charging Thursday for a 30-year, fixed-rate mortgage with no discount points. Rate assumes good credit. Fifth Third 4.75% Park View Federal Savings 4.75% First Federal of Lakewood 4.75% Century 4.8% Huntington:... (Thu, 15 Jan 2009 23:45:16 GMT)
Realty Q&A: 'Underwater' mortgage no reason to walk away from home
My mother-in-law is incapacitated due to a stroke and my husband has power of attorney for her finances. She currently owes about $96,000 on a home in Phoenix that a Realtor says is probably worth $80,000. She has no other assets or savings. Should she just walk away from the loan? (Thu, 15 Jan 2009 23:51:56 GMT)
Homeowners look to refinance as mortgage rates dip to record lows
Mortgage rates have dropped to record lows — below 5 percent — inspiring many homeowners to look into refinancing their loans. But the low rates are attracting few prospective buyers, largely because of the deteriorating labor market. (Thu, 15 Jan 2009 23:52:15 GMT)
Homeowners look to refinance as mortgage rates dip to record lows
Mortgage rates have dropped to record lows — below 5 percent — inspiring many homeowners to look into refinancing their loans. But the low rates are attracting few prospective buyers, largely because of the deteriorating labor market. (Thu, 15 Jan 2009 23:52:25 GMT)
Not everyone can refinance to cut mortgage payments
The average interest rate for a 30-year mortgage dipped below 5% this week, a level not seen since the Eisenhower administration. Not surprisingly, homeowners are scrambling to commemorate this historic event by refinancing their mortgages. (Fri, 16 Jan 2009 02:26:46 GMT)
Two men to stand trial next month in mortgage fraud case
Two men accused of reaping nearly $500,000 from a mortgage fraud scheme will go on trial Feb. 17 in Cape Girardeau.Russell T. McBride, 46, and Robert Wrolstadt, 59, appeared Wednesday before U.S. (Fri, 16 Jan 2009 04:26:19 GMT)
Multiple Applications for Mortgages
As mortgage interest rates continue falling to new lows, a growing number of borrowers are applying to more than one lender to increase their chances of getting approved for refinancing. (Fri, 16 Jan 2009 05:00:00 GMT)
Mainers rush to refinance homes, secure low rates
BANGOR, Maine — Gretchen Schaefer of Bangor has a really good reason to want to refinance her home right now — saving up for a second baby. By taking advantage of the low mortgage interest rates that have become available in the last few weeks, she and her husband can save an extra $150 a month. (Fri, 16 Jan 2009 05:01:38 GMT)
Low mortgage rates create new opportunities
As mortgage rates fall to new lows, more and more home owners are opting to refinance their houses, and the real estate market might also get a boost. (Fri, 16 Jan 2009 06:17:41 GMT)
Rates prompt refinance overflow
Local mortgage professionals are seeing a surge of applications for refinancings as interest rates on home loans hit record lows. (Fri, 16 Jan 2009 07:43:19 GMT)
Mortgage Rescue Scheme Rolls Out
Thousands of families facing repossession can now get help to stay in their homes under a mortgage rescue scheme being rolled out across England. (Fri, 16 Jan 2009 08:59:00 GMT)
Q: How long has Freddie Mac been tracking U.S. mortgage rates?
A: The government-sponsored enterprise has issued reports on the nation's average mortgage rates since 1971. (Fri, 16 Jan 2009 09:58:08 GMT)
Mortgage rescue plan to be launched
A mortgage rescue scheme designed to help thousands of vulnerable people at risk of losing their homes because of the economic slowdown will be launched across England on Friday. (Fri, 16 Jan 2009 10:35:00 GMT)
HDFC cuts home loan rates by 150 bps, loans at 9.75%
HDFC has reduced home loan rates by as much as 150 basis points following a reduction in its cost of funds. With this cut all floating rate loans will be available at 9.75%. (Fri, 16 Jan 2009 11:19:37 GMT)
Mortgage Rates At Historic Lows
Mortgage rates dropped to another record low this week. According to Freddie Mac's weekly survey, the interest rate on a 30-year fixed-rate mortgage fell below 5 percent for the first time. That is the lowest level since the survey began in 1971. (Fri, 16 Jan 2009 11:24:06 GMT)
HDFC cuts home loan rates by 150 bps, loans at 9.75%
MUMBAI: The country's largest housing finance company HDFC has reduced home loan rates by as much as 150 basis points following a reduction in its cost of funds. (Fri, 16 Jan 2009 11:25:07 GMT)
UK Government Launches GBP200 Million Mortgage Rescue Scheme
LONDON -(Dow Jones)- The U.K. government is launching a GBP200 million mortgage rescue scheme Friday that aims to help vulnerable, low-income households who are at risk of repossession. (Fri, 16 Jan 2009 11:52:49 GMT)
Mortgage rates take historic plunge
The average U.S. rate on a 30-year fixed mortgage fell below 5 percent this week for the first time on record as a government program to buy mortgage-backed bonds lowered borrowing costs. The fixed rate dropped to 4.96 percent from 5.01 percent a week earlier, Freddie Mac said in a report yesterday. That's the lowest in data that go back to 1971, according to the McLean, Va.-based mortgage ... (Fri, 16 Jan 2009 12:15:23 GMT)
Mainers rush to refinance
Maine bankers say interest rates that have been falling since late November are sending a rush of homeowners in to refinance. (Fri, 16 Jan 2009 12:40:21 GMT)
Mortgage increases 'were horrendous'
A man who faced repossession after his mortgage payments soared has been helped by the new mortgage rescue plan. (Fri, 16 Jan 2009 12:45:48 GMT)
Mortgage Rates Fall to Record Lows
Mortgage giant Freddie Mac said on Jan. 15 that rates on 30-year fixed-rate mortgages fell below 5% this week -- the lowest level since it began surveying lenders in 1971. (Fri, 16 Jan 2009 13:08:41 GMT)
Today's Outrage: BoA's Dirty Mortgage Secret
Bank of America's Countrywide mortgage unit has got some nerve. (Fri, 16 Jan 2009 14:21:27 GMT)
JPMorgan to expand mortgage-modification program
JPMorgan Chase & Co. on Friday said it has expanded a mortgage modification program to cover investor-owned mortgages serviced by Chase, the company's U.S. consumer and commercial banking business. (Fri, 16 Jan 2009 16:10:49 GMT)
Falling mortgage rates lead to refinancing rush
The refinancing rush is on. (Fri, 16 Jan 2009 17:14:04 GMT)
Federal Home Loan Bank of Atlanta Awards $43 Million for Affordable Housing Development
Federal Home Loan Bank of Atlanta announced today that it will award more than $43 million to fund 85 affordable housing projects in ten states. (Fri, 16 Jan 2009 17:18:00 GMT)
Banks cut home loan rates
ASB and Westpac announced cuts to some fixed home loan rates and their variable home loan rates yesterday. Westpac is cutting its variable rate to 7.49 per cent, while ASB is cutting its variable home loan rate to 7.45 per cent. (Fri, 16 Jan 2009 17:26:01 GMT)
Mortgage refinancing applications pour in
WASHINGTON, Jan. 16 (UPI) -- Falling mortgage interest rates are prompting a rush to refinance home loans as U.S. homeowners seek to take advantage of the opportunity, bankers said. (Fri, 16 Jan 2009 18:19:20 GMT)
Run on refinancing under way at banks
Applications for refinancing of mortgage loans are piling up on her desk and her phone is ringing off the hook, yet Deb Ovist is happy to be so busy. (Fri, 16 Jan 2009 18:46:12 GMT)
HDFC cuts rates for new home loan customers
Under a special scheme which would benefit new home loan customers in the Rs 20-30 lakh bracket the most, HDFC will charge an interest rate of 9.75% per annum, down from 11.25% earlier. (Fri, 16 Jan 2009 18:50:12 GMT)
Mortgage refinancing applications pour in
Falling mortgage interest rates are prompting a rush to refinance home loans as U.S. homeowners seek to take advantage the opportunity, bankers said.Interest rates for 30-year fixed-rate mortgages have fallen for 11 consecutive weeks, with the average rate reaching 4.96 percent, The Washington Post reported Friday.Many homeowners are sending applications to more than one lender, said Doug ... (Fri, 16 Jan 2009 18:52:03 GMT)
Time to switch out of a fixed mortgage?
Borrowers who locked into a high fixed-rate mortgage last year may be better off switching out of their deal early, even if they have to pay thousands of pounds in fees, as the rates available now are so much cheaper. (Fri, 16 Jan 2009 18:57:44 GMT)
SFO investigates possible mortgage fraud
Two branches of a home loan company, one in Auckland and one in Lower Hutt, are being investigated by the Serious Fraud Office for alleged mortgage fraud worth tens of millions of dollars. (Fri, 16 Jan 2009 19:26:18 GMT)
Reliance Cap gets NHB nod for home loan biz
Anil Ambani group's Reliance Capital today said it has received the necessary regulatory approval to set up a housing finance subsidiary and expects to become a leading player in the home loan business over the next 3-5 years. (Fri, 16 Jan 2009 21:44:43 GMT)
Not everyone can refinance to cut mortgage payments
The average interest rate for a 30-year mortgage dipped below 5% this week, a level not seen since the Eisenhower administration. Not surprisingly, homeowners are scrambling to commemorate this historic event by refinancing their mortgages.There's just one problem: In this credit-starved environment, even a five-star general might have trouble qualifying for a new mortgage. If you're interested ... (Fri, 16 Jan 2009 22:14:58 GMT)
Drop in mortgage rates triggers rush to refinance
Jon McKenna hopes to pay off his home sooner by taking advantage of suddenly lower interest rates to trade in his 30-year mortgage for a 15-year one. If he can talk to his mortgage lender, that is. "Right now I've been trying to get somebody on the phone," said McKenna, executive editor of Strafford Publications, an Atlanta newsletter and business conference company. (Sat, 17 Jan 2009 00:30:18 GMT)
It's catch-22 for home loan-seekers
Banks have stopped releasing loan instalments on the ground that the project isn't progressing as per schedule. Developers, on the other hand, are insisting that buyers should immediately pay up if the project is to go on. (Sat, 17 Jan 2009 02:50:28 GMT)
New loan program seeks to aid Mexican workers returning home
The Mexican government is launching a loan program to help its returning citizens whose American dreams have been dashed by the faltering U.S. economy. (Sat, 17 Jan 2009 02:54:42 GMT)
FTC Tries to Shut Door on Mortgage-Aid Scam Artists
You've probably seen the incessant TV and Internet pitches -- "We can stop your foreclosure!" -- offering hope to millions of homeowners who are behind on their mortgage payments or heading to foreclosure. (Sat, 17 Jan 2009 03:08:08 GMT)
Mortgage Rescue Scheme Rolls Out
Thousands of families facing repossession can now get help to stay in their homes under a mortgage rescue scheme being rolled out across England. (Sat, 17 Jan 2009 04:17:38 GMT)
Refinance Your Mortgage, Forget the Appraisal
Thousands of homeowners could get the help they need to refinance their mortgages without having to go through an appraisal process. INSIDE: Watch Bill Spencer's report (Sat, 17 Jan 2009 04:26:00 GMT)
Mortgage Lending Jobs Thrive as Other Sectors Dive
With home loan rates at record lows, hiring by mortgage lenders surges. NEW YORK - It's so 2005. Even as the rest of the U.S. job market plumbs new depths, hiring by mortgage lenders is surging now that home loan rates have hit multi-decade lows. (Sat, 17 Jan 2009 05:00:02 GMT)
HDFC cuts home loan rates in limited offer
Housing Development and Finance Corporation (HDFC), the country’s largest housing sector lender, today slashed its home loan rates by 50 basis points (bps) following a deposit rate cut by 50-75 bps yesterday. (Sat, 17 Jan 2009 05:01:13 GMT)
Low mortgage rates may spark more buying, refinancing
With mortgage rates falling below 5 percent, Rochester-area real estate professionals say they expect to see a more active market.Also: Refinancing offers benefits (Sat, 17 Jan 2009 08:16:51 GMT)
Low interest rates entice homeowners to refinance
The refinancing rush is on. Dropping interest rates have led to a surge in homeowners wanting to refinance. More than 85 percent of all mortgage activity involved refinancing applications, the Mortgage Bankers Association said this week. (Sat, 17 Jan 2009 11:15:59 GMT)
HDFC cuts home loan rates in limited offer
Housing Development and Finance Corporation (HDFC), the country’s largest housing sector lender, today slashed its home loan rates by 50 basis points (bps) following a deposit rate cut by 50-75 bps yesterday. (Sat, 17 Jan 2009 13:00:22 GMT)
Many home buyers need higher loan limits, upper-end stalled
The drop in mortgage loan limits for conventional financing at the end of 2008 is hurting home sales and trade-up activity in higher price ranges across the country, according to the National Association of Realtors. The latest existing-home sales data shows transactions under $400,000 are 3 percent below a year ago. (Sat, 17 Jan 2009 13:42:31 GMT)
Home Loan banks may need gov't bailout
WASHINGTON, Jan. 17 (UPI) -- The increasingly crucial Federal Home Loan Banks are being drained of their capital foundations and could be forced to seek direct government aid, analysts say. (Sat, 17 Jan 2009 14:04:40 GMT)
Home Loan banks may need gov't bailout
The increasingly crucial Federal Home Loan Banks are being drained of their capital foundations and could be forced to seek direct government aid, analysts say.The 12 home loan banks -- collectives chartered by the U.S. government and owned by member financial firms -- are being turned to more and more by private banks for hundreds of billions of dollars in low-cost funding to support lending to ... (Sat, 17 Jan 2009 14:37:26 GMT)
Woman convicted of mortgage fraud
A Sudbury woman who used forged documents to obtain a $140,000 mortgage to buy a house in Coniston in 2005 will serve a six-month house [...] (Sat, 17 Jan 2009 17:19:05 GMT)
HDFC cuts home loan rates in limited offer
Housing Development and Finance Corporation (HDFC), the country’s largest housing sector lender, today slashed its home loan rates by 50 basis points (bps) following a deposit rate cut by 50-75 bps yesterday. (Sat, 17 Jan 2009 21:00:49 GMT)
Refinancing eludes many as rates fall
Mortgage rates hit stunning new lows last week, falling below 5 percent for the first time in decades. The stampede of refinance applications triggered when rates first starting tumbling in early December continues apace. But the good news comes with a big... (Sat, 17 Jan 2009 21:20:44 GMT)
Home loan modifications: It's the principal of the thing
Loan modifications that supposedly help homeowners but don't reduce the principal may just postpone default. (Sun, 18 Jan 2009 01:30:59 GMT)
Woman convicted of mortgage fraud
A Sudbury woman who used forged documents to obtain a $140,000 mortgage to buy a house in Coniston in 2005 will serve a six-month house [...] (Sun, 18 Jan 2009 02:36:27 GMT)
Pressing Mom to Get A Reverse Mortgage
Q My brother is pressuring our mom to put a reverse mortgage on her paid-up home to provide her with a monthly income to help with drug and home nursing costs. I think -- and I believe that Mom agrees -- that he and I can and should cover these expenses ourselves and keep her home equity intact.... (Sun, 18 Jan 2009 05:00:00 GMT)
Do your homework before refinancing mortgage, experts say
CHARLESTON, W.Va. -- With mortgage rates near historic lows, refinancing seems like an obvious way to cut costs, but homeowners should consider many factors before they refinance - and everyones situation is different, bankers and others say. For the week ... (Sun, 18 Jan 2009 05:00:35 GMT)
HDFC cuts home loan rates in limited offer
Housing Development and Finance Corporation (HDFC), the country’s largest housing sector lender, today slashed its home loan rates by 50 basis points (bps) following a deposit rate cut by 50-75 bps yesterday. (Sun, 18 Jan 2009 05:00:50 GMT)
Walking away: The wide and lasting impact of quitting a mortgage
Benjamin McNelley said he loathed the idea of walking away from the mortgage on his four-bedroom, two-bath house in Fauquier County, Va. (Sun, 18 Jan 2009 05:09:15 GMT)
Low mortgage rates draw refinancing interest
The Federal Reserve's recent purchases of mortgage-backed bonds pushed home loan rates to levels not seen in nearly 38 years. (Sun, 18 Jan 2009 05:09:42 GMT)
Insurance agent charged with wire, mail fraud in $1.5M mortgage scheme
An Alexandria insurance agent has been charged with wire and mail fraud in connection with a scheme that raised at least $1.5 million in mortgage loans and caused at least $390,000 in losses when the homes went into foreclosure, federal court document show. (Sun, 18 Jan 2009 05:32:06 GMT)
Mortgage-fraud cases are flooding into Tarrant County district attorney’s office
The district attorney's office has identified more than $42 million in mortgage scams. And it's even worse in other states. (Sun, 18 Jan 2009 06:50:00 GMT)
Mortgage refinancing surge sends banks into overtime
Lenders say they are being bombarded by applications for mortgage refinancing as interest rates, driven downward by a weak economic outlook and government efforts to spur mortgage activity, hover around 5%. (Sun, 18 Jan 2009 07:42:52 GMT)
SOCCER / Beckham makes his home debut for Milan
David Beckham made his home debut for AC Milan on Saturday, playing 81 minutes in a 1-0 victory over Fiorentina in the Italian league. Beckham is on loan from the Los Angeles Galaxy and hopes to stay sharp in hopes of earning a spot on the English national... (Sun, 18 Jan 2009 08:29:18 GMT)
2008 - a roller-coaster ride for mortgage rates
When it comes to mortgage rates, 2008 may be remembered as the year the market went haywire. Near the start of the year, some long-term mortgages were around 6 percent, but by July the average rate approached 7 percent. In October, rates jumped by half a... (Sun, 18 Jan 2009 08:36:49 GMT)
Help deciding whether to refinance
Interest rates are at historic lows. Is it time to refinance your home loan? Sunday's column explores that issue. Below are some Web sites that can help you decide. And just what was that Cheap Trick song I couldn't name?... (Sun, 18 Jan 2009 08:39:44 GMT)
Refinancing eludes many as rates fall
Mortgage rates hit stunning new lows last week, falling below 5 percent for the first time in decades. The stampede of refinance applications triggered when rates first starting tumbling in early December continues apace. But the good news comes with a big... (Sun, 18 Jan 2009 08:50:46 GMT)
Woman convicted of mortgage fraud
A Sudbury woman who used forged documents to obtain a $140,000 mortgage to buy a house in Coniston in 2005 will serve a six-month house [...] (Sun, 18 Jan 2009 11:51:26 GMT)
Squeezing mortgage dollars :Lower rates pave way for refinance boom.
The phones have been ringing quite a bit at First Federal Savings Bank these days. Other consumers are showing up at the bank in person. Still, others are traveling online. (Sun, 18 Jan 2009 12:02:06 GMT)
Freeze on mortgage funds 'to last year'
THE 250,000 investors with $25 billion tied up in the frozen mortgage funds sector are unlikely to see their cash until next year. (Sun, 18 Jan 2009 13:00:00 GMT)
HDFC cuts home loan rates in limited offer
Housing Development and Finance Corporation (HDFC), the country’s largest housing sector lender, today slashed its home loan rates by 50 basis points (bps) following a deposit rate cut by 50-75 bps yesterday. (Sun, 18 Jan 2009 13:00:07 GMT)
HDFC cuts home loan rates in limited offer
Housing Development and Finance Corporation (HDFC), the country’s largest housing sector lender, today slashed its home loan rates by 50 basis points (bps) following a deposit rate cut by 50-75 bps yesterday. (Sun, 18 Jan 2009 14:30:13 GMT)
Want to Refinance? Good Luck Finding Loan
Mortgage rates are at shockingly-low levels yet some struggle to cut payments. (Sun, 18 Jan 2009 15:24:50 GMT)
Today's headlines: Boomtime for refinancing; Monster truck appeared to malfunction before killing boy
The economy is in a tailspin but there's one bright spot for homeowners, or we should say some homeowners, reports this morning's Oregonian. Personal finance writer and blogger Brent Hunsberger gives readers the lowdown on refinancing your mortgage and whether... (Sun, 18 Jan 2009 15:43:19 GMT)
Refinancing eludes many as rates fall
Mortgage rates hit stunning new lows last week, falling below 5 percent for the first time in decades. The stampede of refinance applications triggered when rates first starting tumbling in early December continues apace. But the good news comes with a big... (Sun, 18 Jan 2009 16:52:17 GMT)
Refinancing eludes many as rates fall
Mortgage rates hit stunning new lows last week, falling below 5 percent for the first time in decades. The stampede of refinance applications triggered when rates first starting tumbling in early December continues apace. But the good news comes with a big... (Sun, 18 Jan 2009 17:30:50 GMT)
Homeowners should be wary of some loan modification pitches
With the rising tide of foreclosures not expected to recede anytime soon, offers to homeowners to modify that risky loan in a last-ditch effort to save their home also are up. (Sun, 18 Jan 2009 18:10:52 GMT)
Get second opinion before signing mortgage bailout papers
When the wolf's at the door, it's hard to think clearly. So local experts urge homeowners to get a second opinion before signing off on any mortgage bailout plan. (Sun, 18 Jan 2009 18:11:02 GMT)
Arvest 2008 mortgage results defy national trends
Tulsa, OK., (January 13. 2009)—Arvest Bank today released results of its mortgage lending and servicing activities in 2008. For the sixth consecutive year, the bank originated more than $1 billion in new mortgage loans. (Mon, 19 Jan 2009 04:38:36 GMT)
Mortgage FAQs include issues of both buying and selling
Questions regarding selling or buying homes and when the market will recover are among those that Andy Dubinsky, CEO of Encomia, LP, says he hears most often. The Houston-based firm, which provides electronic consolidation of the mortgage process, serves brokers, lenders, banks and investors, who all seem to be asking the same questions: (Mon, 19 Jan 2009 05:14:28 GMT)
Refi boom boosts optimism in S.A.’s mortgage market
Last year, downsizing was the operative word in the mortgage industry with mortgage companies and brokerages laying off workers and closing offices. Even those that didn’t downsize admit it’s been a struggle. (Mon, 19 Jan 2009 05:18:06 GMT)
Local mortgage lenders: Low rates leading to refinance boom
Record low interest rates have spurred the makings of another home refinance boom, Wichita mortgage lenders say. (Mon, 19 Jan 2009 05:26:47 GMT)
BNZ lowers variable loan rates
The Bank of New Zealand said today it is dropping its rates across its range of variable home loan products. (Mon, 19 Jan 2009 06:03:29 GMT)
Consider FHA 203k home loan
The Federal Housing Administration has a new program called the 203k streamline limited repair program. FHA’s streamlined 203k permits homebuyers to finance up to an additional $35,000 to improve or upgrade their home before moving in. (Mon, 19 Jan 2009 06:08:51 GMT)
BNZ lowers variable home loan rates
The Bank of New Zealand said today it is dropping its rates across its range of variable home loan products. The move follow changes in wholesale markets and is effective Thursday. (Mon, 19 Jan 2009 06:20:51 GMT)
New home loan package to drive SP Setia sales (Business Times
PROPERTY developer SP Setia Bhd is confident of securing more sales this year with the introduction of its new 5:95 home loan package, its group managing director and chief executive officer Tan Sri Liew Kee Sin said today. (Mon, 19 Jan 2009 07:46:34 GMT)
Northern Rock To Reduce Mortgage Redemption Rate
Northern Rock To Reduce Mortgage Redemption Rate (Mon, 19 Jan 2009 08:12:46 GMT)
Owners double-app' in rush to refinance
As mortgage interest rates continue falling to new lows, a growing number of borrowers are applying to more than one lender to increase their chances of getting approved for refinancing. (Mon, 19 Jan 2009 08:16:52 GMT)
Rock to slow mortgage redemptions
Troubled mortgage lender Northern Rock unveiled a new strategy which will see it slow the rate at which it shrinks its mortgage book. It means the bank will start lending to more homeowners in a bid to help kick-start the economy. (Mon, 19 Jan 2009 09:03:31 GMT)
U.S. mortgage insurers press Ottawa to fully guarantee policies
U.S.-based mortgage insurance companies are pressing the federal government to fully guarantee their home insurance policies in the pending federal budget to expand their market and possibly help resuscitate Canada's struggling real-estate market. (Mon, 19 Jan 2009 09:28:42 GMT)
U.S. mortgage insurers press Ottawa to fully guarantee policies
Move would make federal government ultimately liable for all of the hundreds of billions of dollars in insured mortgage debt (Mon, 19 Jan 2009 09:44:03 GMT)
Denmark announces $18 billion rescue package for banks, mortgage lenders
COPENHAGEN, Denmark - Danish lawmakers have agreed on a 100 billion kroner ($18 billion) rescue package of loans for banks and mortgage lenders to prevent the credit crunch from deepening. (Mon, 19 Jan 2009 10:30:59 GMT)
Northern Rock's bid to boost mortgage market welcomed
Mortgage lenders today gave a cautious welcome to moves by the Government to allow nationalised bank Northern Rock to bolster its presence on the mortgage market. (Mon, 19 Jan 2009 10:49:30 GMT)
Borrowers look for mortgage modification
Homeowners who can't pay their mortgage can get a better deal from the lender. But it's a complex process. (Mon, 19 Jan 2009 11:00:00 GMT)
Harder to qualify for refinancing
If you're thinking about refinancing as mortgage rates drop, you may not qualify. (Mon, 19 Jan 2009 11:00:15 GMT)
FSA bans and fines mortgage broker over £100,000
The FSA has banned and fined Dynamic Mortgage Brokers of East London director Richard Kennedy £101,106 for submitting false mortgage applications. ... (Mon, 19 Jan 2009 11:53:01 GMT)
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