U.S. fixed-rate mortgages declined in the latest week, according to Freddie Mac’s survey released Thursday. The national average interest rate on the benchmark 30-year, fixed-rate loan averaged 6.04% in the week ending Thursday, down from last week’s 6.46% and the year-ago 6.33%. The 15-year fixed-rate loan averaged 5.72%, down from the week-ago 6.14% and the [...]
The US government would snap up 300 billion dollars of bad home loans, Republican John McCain vowed Tuesday unveiling a new plan to help struggling homeowners if he is elected president.
“People are no longer able to afford their mortgage payments,” said McCain as he laid out what he billed as an original proposal for addressing [...]
Interest rates on U.S. 30-year, fixed-rate mortgages dropped by 0.42 percentage point in the past week, the biggest seven-day drop in more than 28 years, Freddie Mac says. The fixed rate is now at its lowest in five months.
The fall was driven by the U.S. government’s bailout of the mortgage lender and its larger counterpart, [...]
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,” [...]
The Mortgage Bankers Assocation said Wednesday that its composite index of loan applications rose slightly in the week ended Aug. 22, as interest rates slipped.
The composite index rose a seasonally adjusted 0.5%, the MBA said, as the refinance index increased 0.3% from the previous week and the purchase index increased 0.6%.
The refinance share of mortgage [...]
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 [...]
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 filed for mortgages fell a seasonally adjusted 14.1% last week, as applicants shrugged off lower interest rates on fixed-rate loans, the Mortgage Bankers Association reported on Wednesday.
Compared against the same week in 2007, applications dropped an unadjusted 30.3%, according to the Washington-based MBA’s latest survey. It covers about half of all U.S. retail residential [...]
Thirty-year fixed-rate mortgages averaged 6.35 percent this week, down 0.1 percent from last week, which had been the highest level since last September, Freddie Mac, the mortgage company, reported Thursday. Rates had been rising for five straight weeks.
Rates on 15-year fixed-rate mortgages dropped 0.12 percent to 5.92 percent; the five-year adjustable-rate mortgage fell 0.21 percent [...]
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 [...]