WASHINGTON - Sept. 26, 2008 - Rates on 30-year mortgages, which had been falling for five weeks, jumped sharply this week, reflecting the turbulence in global credit markets.
Freddie Mac reported Thursday that its nationwide survey found that the average for 30-year, fixed-rate mortgages rose to 6.09 percent this week, up from 5.78 percent last week. [...]
Connecticut Governor M. Jodi Rell today announced the state is offering a series of free forums around the state over the next three months to help homeowners with subprime adjustable rate mortgages convert them to traditional 30-year fixed rate loans.
“Holding on to the American dream is more difficult than ever in this current economic climate,” [...]
Rates on 30-year mortgages remained at the same level for a third week while rates on other types of home loans posted small declines.
Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.52 percent this week. That was the same rate as the two previous weeks and represented the second highest rate [...]
West Virginia sued Countrywide Financial Corp accusing the mortgage lender, now owned by Bank of America, of making risky and costly loans to consumers who could not afford them.
Darrell McGraw, the state’s attorney general, filed the lawsuit against Countrywide and its co-founder and former chief executive, Angelo Mozilo, on Tuesday with the Putnam County Circuit [...]
The volume of mortgage applications filed last week rose slightly, increasing a seasonally adjusted 2.8% compared with the week before, the Mortgage Bankers Association reported on Wednesday.
Applications dropped 33.7% for the week ended Aug. 1, compared with the same week in 2007, the Washington-based MBA said. The MBA’s survey covers about half of all U.S. [...]
Applications for the week ended June 27 were down 22.8% compared with the same week in 2007, the Washington-based MBA said.
Refinance applications were up 4.7% on a week-to-week basis, while applications for mortgages to purchase a home increased a seasonally adjusted 2.8%.
The four-week moving average for all loans as tracked by the MBA was down [...]