Consumers and businesses can brace for another two years of exceptionally low interest rates after the Federal Reserve said Wednesday it is likely to keep its rates below 1 percent until late 2014 because of the economys continued weakness.
The decision means the era of historically low rates on loans and [...]

Credit has gotten tighter, and more buyers are being left out or becoming so frustrated they give up. Last year, more than 2 million people were turned down for mortgages, according to the Federal Financial Institutions Examination Council.
About 30 percent of buyers are either denied a mortgage, or they drop [...]

WASHINGTON (AP) Aug. 8 2011 Standard & Poors Ratings Services on Monday downgraded the credit ratings of Fannie Mae and Freddie Mac and other agencies linked to long-term U.S. debt.
The agency also lowered the ratings for: farm lenders; long-term U.S. government-backed debt issued by 32 banks and credit unions; and [...]

Fixed mortgage rates fell this week to the lowest point of the year, offering incentive for homeowners to save money by refinancing their loans.
Freddie Mac said Thursday that the average rate on the 30-year loan fell to 4.61 percent. Thats down from 4.63 percent and the lowest level since mid-December.
The average [...]

NEW YORK March 25, 2011 Fixed mortgage rates edged up this week, but even 30-year rates below 5 percent have done little to boost home sales.
Freddie Mac said Thursday the average rate on the 30-year fixed mortgage rose to 4.81 percent from 4.76 percent the previous week. It hit a [...]

NEW YORK Jan. 3, 2011 The average rate on 30-year fixed mortgages rose last week to the highest level in seven months, reflecting higher yields on long-term Treasurys.
Freddie Mac said Thursday the rate increased to 4.86 percent from 4.81 percent in the previous week. It hit a 40-year low of [...]

JACKSONVILLE, Fla. Nov. 11, 2010 Federal prosecutors charge that a pair of Jacksonville mortgage brokers masterminded a network of schemes that bilked mortgage loan companies out of more than $1.8 million in 13 phony real estate transactions 12 of which involved First Coast homes.
A grand jury indictment filed in [...]

NEW YORK Oct. 21, 2010 Bank of America and Ally Financials GMAC Mortgage have begun to lift their freezes on more than 100,000 foreclosure cases in Florida and other states, saying theyre not finding flaws in their paperwork.
Late Monday, Bank of America issued a statement saying that it expects [...]

NEW YORK Oct. 8, 2010 Rates on 30-year mortgages fell to the lowest level in decades for the ninth time in 12 weeks, pushed down by traders anticipating a move by the Federal Reserve to pump more money into the economy.
The average rate for 30-year fixed loans dropped to 4.27 [...]

Sept. 3, 2010 Mortgage rates fell to the lowest level in decades for the tenth time in 11 weeks, as investors worried about the economy.
The average rate for a 30-year fixed loan was 4.32 percent this week, down from 4.36 percent last week, mortgage buyer Freddie Mac said Thursday. Thats the [...]