Home » Mortgage News » 2010 » July
California, Florida Account for Two-Fifths of Suspected Mortgage Fraud
California and Florida led the nation in incidents of suspected mortgage fraud last year, with Los Angeles and Miami heading the list of metropolitan areas with the most reported incidents. Read More» |
Homeownership Continues to Decline
The U.S. homeownership rate continued to decline in the second quarter of the year, falling to 66.9 percent, the lowest level since the end of 2009. Read More» |
More Properties Lost to Foreclosure
The number of U.S. homes in foreclosure continues to decline, even as the number of properties actually lost through the process is on the rise, according to figures released today by real estate data firm RealtyTrac. Read More» |
Mortgage Rates Set Record Lows for Sixth Straight Week
Mortgage interest rates once again fell to new record lows this week, according to the weekly Freddie Mac rate survey. Read More» |
Homeowners Putting Up Extra Cash to Refinance
Looking to refinance your mortgage? You might have to bring some cash to the table. Read More» |
Purchase Applications Rise for Second Week
Mortgage applications for home purchases have increased for the second week in a row, following 10 weeks of almost unbroken declines. Read More» |
Home Prices Up, But Significance Questioned
U.S. home prices rose in May, according to new figures out today, despite declining home sales linked to the expiration of the homebuyer tax credit at the end of April. Read More» |
New Home Sales Bounce Back in June
New home sales rebounded in June, increasing 23.6 percent from the all-time low reported for May, according to figures released this morning by the Commerce Department. Read More» |
California Mortgage Defaults at Three-Year Low
New mortgage defaults in California have fallen to their lowest level in three years, even as the number of homes actually lost to foreclosure continues to rise. Read More» |
Existing Home Sales Fall Less Than Expected
Sales of existing homes fell in June, as the housing market continues to feel the effects of the end of the homebuyer tax credit. Read More» |
Rates Hit New Lows for Fifth Straight Week
Interest rates on 30- and 15-year fixed-rate mortgages hit new record lows again this week, according to the weekly rate survey by government-supported lender Freddie Mac. |
HUD to Investigate Possible Discrimination Against Pregnant Borrowers
An investigation into whether lenders may have illegally denied mortgages to pregnant women and persons on temporary disability is being launched by the Department of Housing and Urban Development (HUD). Read More» |
Rates Hit New Lows; Purchase Applications Perk Up
The real estate market showed a small glimmer of life last week, as mortgage applications for home purchases picked up slightly after hitting a 13-year low the week before. Read More» |
Backlog of Trial Loan Modifications Shrinks
The government’s Making Home Affordable anti-foreclosure program is either picking up the pace or losing steam, depending on which end of the process you’re looking at. Read More» |
Housing Starts Fall Again in June
Housing starts fell another 5 percent in June, as demand continued to shrink following the end of the homebuyer tax credit. Total housing starts fell to an annual rate of 549,000 units, according to monthly figures released this morning by the Commerce Department...
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Loan Modification Help for Chicago-Area Homeowners This Weekend
Chicago-area homeowners in need of a loan modification to avoid foreclosure can obtain help in doing so a “Fix Your Mortgage” event this Saturday, July 24, in southwest Chicago. The event will bring together volunteer real estate attorneys, HUD-...
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Homebuilders Getting More Pessimistic
Homebuilder confidence fell in June to its lowest level in over a year, as consumer demand for housing continued to shrink following the end of the homebuyer tax credit. Read More» |
Senate Approves New Mortgage Rules, Other Reforms
The U.S. Senate passed a sweeping financial reform bill on Thursday, establishing new rules for mortgages as well as imposing new regulations on Wall Street and providing enhanced protections for consumers and investors. Read More» |
Mortgage Rates Hold Steady
Mortgage rates held steady this past week, with the standard 30-year fixed-rate mortgage unchanged from last week’s record low of an average rate of 4.57 percent, according to the weekly Freddie Mac survey. Read More» |
Bank Repossessions Up, But New Foreclosures Decrease
The number of homes lost to foreclosure hit a new high in the second quarter of the year, even as the total number subject to the foreclosure process declined, according to new figures released today. Read More» |
Home Purchase Mortgage Applications at 13-Year Low
Mortgage applications for home purchases fell to their lowest level in more than 13 years last week, amid concerns that the housing market may be entering a second downturn, or “double dip.” The Mortgage Bankers Association (MBA) reported this morning...
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One-Fourth of Americans Now Have Sub-600 Credit
Over one-quarter of Americans now have credit scores below 600, ranking them as a poor risk for lenders and making it difficult or even impossible for them to obtain mortgages, car loans, credit cards or other consumer loans. Read More» |
Michigan Launches Mortgage Aid Program, Despite Gaps
The state of Michigan is rolling out a new anti-foreclosure program today, but many, if not most, at-risk homeowners will still have to wait to take advantage of it. Read More» |
NYT Study: Wealthy Far More Likely to Default on Mortgages
Wealthy homeowners are far more likely to be delinquent on their mortgages than less affluent borrowers, according to a new study by the real estate analysis firm Core Logic. Read More» |
Home Prices Show Strong Quarterly Increase
Boosted by the homebuyer tax credit, U.S. home prices posted a 5.2 percent gain in the most recent quarter of the year and are up 8.8 percent from one year ago. Read More» |
Another Week of Record Low Mortgage Rates
Mortgage rates fell to new record lows yet again this week, the third consecutive week that interest rates have set new record lows in the weekly Freddie Mac rate survey. Read More» |
Low Rates Spur Interest in Refinancing
Mortgage refinance applications rose more than 9 percent last week, as consumers sought to take advantage of interest rates that remained near record lows. Read More» |
Mortgage Help for Unemployed Homeowners
Unemployed homeowners can now get help with their mortgage payments while they look for new work, under the federal Home Affordable Unemployment Program. Read More» |
Census Layoffs Mean Economy Shed Jobs in June
The economy shed 125,000 jobs in June, as moderate growth in private employment was offset by scheduled layoffs of large numbers of temporary workers hired to conduct the 2010 Census. Read More» |
Pending Home Sales Plumment in May
Pending home sales dropped sharply in May, falling 30 percent following the deadline for signing sales contracts to qualify for the federal homebuyer tax credits. Read More» |
Mortgage Rates Set Record Lows for Second Week
Mortgage interest rates fell to new lows again this week, with 30- and 15-year fixed-rate loans and 5-year adjustable rate mortgages (ARMs) all breaking their previous records set just last week. Read More» |
Homebuyer Tax Credits Deadline Extended
The U.S. Senate has voted to extend the deadline for the homebuyer tax credits another three months, giving buyers until Sept. 30 to close home sales qualifying for the credit. Read More» |