Older Americans have the AARP to advocate on their behalf.Now, a group of housing industry veterans has launched a similar organization with the stated goal of looking out for the interests of homeowners.
Fixed mortgage rates moved sharply upward this week in anticipation that the Federal Reserve would signal that it would soon start scaling back its purchases of Treasury bonds that have served to keep interest rates low for the past four years.
Mortgage delinquencies have fallen to pre-recession levels, while the rate of new foreclosures is at its lowest level in more than six years, according to new figures from the Mortgage Bankers Association (MBA).
Mortgage rates cooled off this week, backing off their recent highs following Federal Reserve Chair Ben Bernanke's reassurances the Fed would not hasten to back off its program of Treasury bond purchases that produced record low rates over the past four years.
Yesterday's Senate confirmation of Richard Cordray as the undisputed head of the Consumer Financial Protection Bureau (CFPB) not only solidifies his status, but that of the bureau itself and the actions it has taken over the past two years.
Mortgage rates headed higher this week on the strength of a better-than-expected employment report, ending five straight weeks of declines that sent average rates on some loan types to new record lows.