Home » Mortgage News » 2009 » December
Mortgage Rates Continue to Rise
Mortgage interest rates continued to climb this last week, rising nearly one-tenth a percent in the current Freddie Mac weekly survey, released today. Read More» |
Florida Supreme Court Orders Foreclosure Mediation Process
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Home Prices Remain Flat: Case-Shiller
Raw U.S. home prices were unchanged in October, but posted a moderate increase on a seasonally adjusted basis, according to a leading market survey released today. Read More» |
Treasury Expands Support for Fannie, Freddie
The U.S. Treasury Department will provide nearly unlimited support for Fannie Mae and Freddie Mac over the next three years to ensure the viability of the two major mortgage financiers. Read More» |
Mortgage Rates Go Back Above 5 Percent
Interest rates on standard 30-year mortgages rose above the 5 percent mark for the first time in eight weeks, according to the weekly Freddie Mac survey released today. Read More» |
Existing Home Sales Continue to Rise
Existing home sales rose again in November, but prices remained stagnant despite a dwindling inventory of available properties, according to new data from the National Association of Realtors (NAR). Read More» |
Early Loan Modification Redefaults Fall in Third Quarter
Foreclosure avoidance actions by mortgage lenders and servicers were up sharply in the third quarter of the year, while redefault rates on newly modified loans fell, according to new government figures out this week. Read More» |
Online Application to Streamline Loan Modification Process
A new online service to help homeowners submit and track the documents needed for a government-backed mortgage loan modification has been launched by HOPE NOW, a coalition of mortgage companies and credit counseling agencies. Read More» |
Fannie, Freddy, Citi Suspend Evictions
Three major lenders have announced that they’re suspending foreclosure evictions over the Christmas season, so foreclosed homeowners won’t have to leave their homes until after the holidays. Read More» |
Interest in Buying Foreclosures Drops
Consumer interest in buying foreclosed properties is declining, even as large numbers of foreclosed homes continue to come onto the market. Read More» |
New Housing Starts Rebound
New housing starts rebounded in November, increasing 8.9 percent to an annual rate of 574,000 units, according to figures released today by the Commerce Department. Read More» |
Industrial Production Rises Again
U.S. industrial production picked up 0.8 percent in November, marking five consecutive months without a decline and raising hopes that the economy is truly on the mend. Read More» |
House Approves Creation of Consumer Protection Agency
Legislation to establish a Consumer Finance Protection Agency to regulate mortgages, credit cards and other consumer lending was passed by the U.S. House on Friday, along with other measures to regulate financial markets. Read More» |
Equal Numbers Approved, Rejected for Permanent Loan Mods
Nearly as many homeowners are being rejected as are being approved for permanent loan modifications under the government’s main foreclosure prevention program, according to Treasury officials. Read More» |
Foreclosure Rates Fall Again
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Mortgage Interest Rates Reverse Six-Week Decline
Interest rates on 30-year fixed rate mortgages rose last week, breaking a streak of six consecutive weeks of declines, according to figures released today by the Mortgage Bankers Association. The average interest rate on 30-year fixed rate mortgages rose to 4.88...
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FDIC May Seek Principal Reductions on At-Risk Mortgages
The FDIC may seek to reduce the principal on more than $45 billion in mortgages held by failed banks that it acquired in an effort to help “underwater” homeowners. Read More» |
One-quarter Reported Delinquent on Trial Loan Mods
More than one in four homeowners who obtained trial mortgage loan modifications under the government’s Making Home Affordable Program are already behind on their payments, according to a new information from the Treasury Department. Read More» |
Treasury Announces Short Sale Incentive Program
As part of its foreclosure prevention efforts, the Obama Administration is launching a new program to encourage short sales and deed-in-lieu of foreclosure transactions for financially pressed homeowners who are unable to obtain loan modifications. Read More» |
FHA to Raise Lending Requirements for Home Mortgages
Getting an FHA home mortgage is about to get more costly and difficult, as regulators take steps to rebuild the federal agency’s shrunken financial reserves and reduce the risk of defaults on FHA-insured mortgages. Read More» |
Private Residential Construction Up in October
Private residential construction was up in October, following a summer season in which home building rates fell to their lowest levels in 14 years, according to new data from the Commerce Department. Read More» |
Pending Home Sales Up for 9th Straight Month
Pending home sales rose for the ninth consecutive month in October and posted their biggest-ever one-year increase as well, according to figures released today by the National Association of Realtors. Read More» |