Mortgage News May, 2008

Mortgage Rates Hit 11-week High

Fannie Mae on Thursday announced that 30-year fixed rate mortgages averaged 6.08 percent this...

Mortgage Application Volume Falls 4.6 Percent

Applications for home mortgages slipped for a second consecutive week to a seasonally adjusted...

Home Prices Plummet 14.1 percent in First Quarter

A clear indication of dwindling consumer confidence in the housing market was revealed on Tuesday...

Greenspan Speaks Out on U.S. Economy

Former Federal Reserve chairman, Alan Greenspan has echoed the sentiments of Warren Buffet, by...

Buffet Sees U.S. in Recession

Warren Buffet, CEO of Berkshire Hathaway Inc and one of the world's wealthiest men in a recent...

Fed's Kroszner - Mortgage Market Recovery Will Take Time

Fed Governor Randall Kroszner, addressing a conference of state bank supervisors, said that...

Mortgage Application Volumes Down 7.8 Percent

According to data from the Mortgage Bankers' Association (MBA), weekly mortgage applications fell...

Senate Passes Mortgage Aid Bill

Despite opposition from the Bush administration, Senate Banking Committee leaders have agreed...

Fannie and Freddie off S&P Downgrade Review

Standard & Poor's announced on Monday it was no longer reviewing Fannie Mae and Freddie Mac...

Fannie Mae Relaxes Requirements for Loan Repayments

Government sponsored enterprise; Fannie Mae has decided to set a single national standard for...

Police Officer Charged in Mortgage Loan Scam

A veteran officer has been charged for his involvement in a string of mortgage scams that duped...

Mortgage Rates in Slight Decline

Rates on 30-year mortgages fell for the second consecutive week by 4 basis points to 6.01 percent...

Mortgage Application Volumes Climb

Mortgage applications again rose for a second consecutive week by 2.9 percent. The rise for the...

FBI Warns of Rising Mortgage Fraud

The FBI, which is currently involved in over 1300 active investigations into mortgage...

Michael Jackson's Neverland Escapes Foreclosure

Pop legend Michael Jackson has averted foreclosure on his Neverland Ranch, following late...

Jingle Mail May be Urban Myth

Despite reports to the contrary, a trend described as "walking away" or "jingle mail" which...

Mortgage Bill gets House Approval

The House of Representatives on Thursday approved legislation to create a $300 billion mortgage...

Mortgage Lenders under Spotlight at Senate Hearing

In an ongoing investigation into alleged irregularities by mortgage lenders, the Senate on...

Fannie Mae Reports Bigger Than Expected Loss

Fannie Mae posted a big first-quarter loss of $2.2 billion Tuesday and said it planned to raise...

Fed Head Demands Action over Foreclosure Fears

Federal Reserve Chairman, Ben Bernanke has urged action from the government and mortgage lenders...

Government Subprime Probe Intensifies

The FBI along with federal, state and local agencies is looking into potential crimes ranging...

House Panel Approves Bill to Assist Borrowers

The House of Representatives Financial Services Committee on Thursday approved a sweeping bill...

Rates on 30-year Mortgages Reach 7 Week High

Long-term mortgage rates ended the week mixed, with the 30-year fixed rate average rising, as...

Mortgage Applications Drop to 2008 Low

The Mortgage Bankers Association's leading index of mortgage activity dropped to its lowest level...

National Rates

Loan Type Today
30 Year Fixed   5.90
15 Year Fixed   5.65
5/1 Adjustable   6.01

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