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An article in BusinessWeek today discusses how mortgage bonds are expected to fall as the Federal Reserve stops buying the $1.25 trillion mortgage-backed securities by March, driving up interest rates on new home loans. According to analysts, the extra yield over benchmark rates that investors demand to hold securities will widen as much as half a … Continue reading Mortgage Bond Rally May End Soon A “short sale” is an oxymoron because of the lengthy process involved in closing the sale, but with new federal guidelines in place, the financial institutions and servicing companies will have more of an incentive to make a short sale, therefore, fewer homeowners will face foreclosure and short sale transactions will be completed in a … Continue reading Changes in Short Sales Process Will Help Prevent Foreclosures As expected, the U.S Treasury Department recently announced that it would be giving unlimited assistance to the two mortgage giants Fannie Mae and Freddie Mac for the next three years. The two companies, which are the largest source of money for U.S. home loans, were taken over by the government in September 2008 to help … Continue reading Treasury Announces Unlimited Assistance For Fannie Mae and Freddie Mac Analysts monitoring current mortgage rates say there is a sharp rise in mortgage rates today, especially for 30-year fixed-rate mortgages and 15-year fixed-rate mortgages. According to reports, the 30-year fixed-rate mortgage rate has, so far, reached 5.03% and the 15-year fixed-rate interest rate is up at 4.48%. Mortgage giant Freddie Mac predicts that mortgage rates may … Continue reading Sharp Rise in Mortgage Rates Increase Concerns Over Recovery In Housing Market In 2010 An article in the Salt Lake Tribune today discusses when it is advisable to refinance a mortgage. Refinancing activity has been high recently with around 66 percent of mortgage applications being refinanced in October. The recent changes in the housing market and mortgage rates have made it confusing for borrowers to ascertain what may be a … Continue reading When Should You Refinance? In a report released by the Mortgage Bankers Association (MBA), mortgage applications in the U.S. declined over the last week, even as the National Association of Realtors reported strong sales of existing homes during November, in a report released yesterday. The MBA’s survey, which covers about 50% of all U.S. retail residential mortgage applications, found that … Continue reading Mortgage Applications Declined Over Last Week Even As Housing Market Showed Improvement During November The National Association of Realtors reported today that existing home sales for November increased by 7.4 percent to a 6.54 million annual rate from a revised rate of 6.09 million the previous month. This beat expectations of a 2.5 percent increase by a large margin. These numbers are 44 percent higher than last year and … Continue reading Mortgage Rates Rise After Strong Home Sales Report The Mortgage Bankers Association recently released its Quarterly Mortgage Bankers Performance Report. The report, which measures the performance of independent mortgage bankers and subsidiaries of banks, thrifts and hedge funds, found that profit margins for independent mortgage bankers and subsidiaries have declined. According to the report, independent mortgage bankers and subsidiaries made an average profit of … Continue reading Recent Reports Point To Dismal Performance Of Mortgage Market In Third Quarter And Declining Profit Margins Of Independent Mortgage Bankers Mortgage giant Fannie Mae released its December Housing Forecast yesterday. Despite the lackluster performance of the housing market and economy this year, the forecast predicts double-digit gains for the real estate industry in 2010. According to the forecast, existing home sales may rise by 10% next year, compared to the estimated gain of 3.1% during 2009. … Continue reading Fannie Mae’s December Housing Forecast Expects Real Estate Market to Rebound But Predicts Disappointing Performance For Mortgage Lenders in 2010 According to the latest figures released by the Mortgage Bankers Association (MBA), applications for mortgages rose slightly last week by a seasonally adjusted rate of 0.3% over last week. The MBA survey covers nearly 50% of all U.S. residential mortgage applications and gives an overview of the mortgage lending activity among mortgage bankers, commercial banks and … Continue reading Mortgage Applications Rise Slightly Over Previous Week |
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