Home » Mortgage News » 2009 » November
New Measures Intended to Speed Up Loan Modifications
The White House is turning up the pressure on lenders to step up the pace on finalizing mortgage loan modifications for at-risk homeowners, among widespread complaints that many banks are dragging their feet. Read More» |
New Home Sales Rise Again
New home sales rose 6.2 percent in October, for the sixth increase in the past seven months, according to new figures released by the Commerce Department. Read More» |
Mortage Rates Hit Record Lows - Again
Mortgage rates fell to record lows again this week, setting or matching all-time records in two major weekly surveys. Read More» |
Home Sales Post Record Monthly Gain
Existing home sales posted a record gain in October, surging 10.1 percent to their highest level in nearly three years, according to new figures from the National Association of Realtors. Read More» |
Study: Counseling Dramatically Reduces Foreclosures
Financially stressed homeowners who receive foreclosure counseling are far less likely to lose their homes and obtain better terms on loan modifications than homeowners who do not receive counseling, according to a new report. Read More» |
Mortgage Rates Hit Record Lows
Mortgage rates fell again last week, hitting record lows in some weekly surveys. Read More» |
OCC Calls for Minimum Mortgage Standards
The U.S. Comptroller of Currency is urging that all nations adopt minimum mortgage lending standards to avoid some of the practices that led to the recent financial crisis, including bans in the United States on certain types of mortgages that have gotten borrowers into financial difficulty. Read More» |
New Home Starts Drop Sharply
New housing starts and residential building permits fell unexpectedly in October, dealing a blow to hopes that an improving housing market would help lead the economy out of recession. Read More» |
Mortgage Delinquencies at All-Time High
Mortgage delinquency rates hit an all-time high in the third quarter of the year, with 6.25 percent of borrowers at least 60 days past due on their home loans. Read More» |
First-Time Homebuyers Set Record Share of Purchases
A record 47 percent of all home purchases in the past year were first-time homebuyers, according to a new survey of home buyers and sellers by the National Association of Realtors. Read More» |
FHA Reserve Fund Falls to Fraction of Required Minimum
Significant losses on mortgage loans have caused the Federal Housing Administration’s cash reserves to fall well below the minimum required by law, raising concerns that the self-funded agency may require a congressional bailout. Read More» |
Foreclosure Rates Decline for Third Straight Month
Foreclosure filings fell for the third consecutive month in October, but still remained at an elevated level, according to figures released today by RealtyTrac. Read More» |
Mortgage Rates Fall to Lowest Level Since Spring
Mortgage interest rates fell last week to their lowest levels since the astonishingly low levels of last spring, according to two major rate surveys released today. Read More» |
Delays Reported in Making Trial Loan Modifications Permanent
With more than 650,000 trial mortgage loan modifications now under way, the Obama administration’s Making Home Affordable Program (MHA) appears to be gaining momentum after a slow start. But there are new reports that relatively few of those are being converted into permanent status, even... Read More» |
Median Home Prices Rise for Second Consecutive Quarter
U.S. median sales prices on existing home rose for the second consecutive quarter in the three months ending Sept. 30, according to new figures released today, although prices still remained well below the levels of one year ago. Read More» |
Share of "Underwater" Mortgages Declines
The percentage of homeowners who are “underwater” shrank in the third quarter of this year, an encouraging sign that the residential real estate market may be stabilizing. Read More» |
Fannie Mae Announces Rent-to-Stay Foreclosure Relief Program
Some homeowners facing foreclosure will be able to remain in their property as renters under a new program announced Thursday by Fannie Mae. Read More» |
Senate Approves Homebuyer Tax Credit Extension
The U.S. Senate has voted unanimously to extend the $8,000 first-time homebuyer tax credit and extend a credit to existing homeowners as well, virtually guaranteeing that the popular program will continue past the current Nov. 30 deadline. Approval by the House of Representatives and... Read More» |
Job Losses Decline for Seventh Straight Month
Job losses declined in October for the seventh consecutive month, although actual gains in employment are still probably several months off, according to today’s National Employment Report from payroll giant ADP. Nonfarm private employment decreased by 203,000 in October, according to ADP, the... Read More» |
Homeowners Save $3 Billion by Refinancing Mortgages
U.S. homeowners who refinanced their mortgages in the first nine months of the year will save a combined $3 billion over the first 12 months of their new loan, government supported lender Freddie Mac is reporting. Read More» |
Home Sales, Residential Construction Increase
Pending home sales and residential construction both posted significant increases in September, according to separate reports released today by the Commerce Department and National Association of Realtors (NAR), signaling that the housing market may be pulling out of its doldrums. Read More» |