Rates on 30-year mortgages fell slightly this week to the lowest level since mid-July.
Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages dipped to 6.47 percent this week, down from 6.52 percent, which had been the rate for the previous three weeks. The new rate was the lowest since the week of July [...]
In its latest effort to deal with the fallout from the subprime-credit crisis, Freddie Mac said it won’t purchase subprime mortgages secured by properties in New York state with note dates on or after Sept. 1.
The move is Freddie Mac’s response to recent New York legislation, effective Sept. 1, that creates a new category of [...]
The best part of the housing bill signed by President Bush on July 30 was the section that establishes new regulations for mortgage loan originators. The regulations require all mortgage originators to be screened, educated, tested and licensed. The law also created a national registry of loan originators. And it won’t cost the taxpayers a [...]
Fannie Mae, the largest U.S. mortgage-finance company, reported a $2.3 billion loss for its second quarter, as credit costs swelled to $5.3 billion stemming from higher loan loss provisions and charge-offs amid challenging conditions in the housing and mortgage markets. The company also trimmed its quarterly dividend. Shares of the company were trading down more [...]
U.S. mortgage market giant Freddie Mac’s chief executive dismissed internal warnings that could have protected the company from some of the financial problems now engulfing it, the New York Times said, citing more than two dozen current and former high-ranking executives and others.
In 2004, Chief Executive Richard Syron received a memo from Freddie Mac’s [...]
WASHINGTON – Aug. 1, 2008 – Rates on 30-year mortgages, which shot up last week to the highest level in nearly a year, dropped slightly this week following passage of a housing rescue bill.
Freddie Mac reported Thursday that the nationwide average for 30-year mortgages dipped to 6.52 percent this week, down from 6.63 percent last [...]
Existing-home sales – including single-family, townhomes, condominiums and co-ops – fell 2.6 percent to a seasonally adjusted annual rate of 4.86 million units in June from a pace of 4.99 million in May, and are 15.5 percent lower than the 5.75 million-unit rate in June 2007, according to the National Association of Realtors (NAR).
NAR President [...]
A Bush administration plan to support Fannie Mae and Freddie Mac could cost U.S. taxpayers $25 billion, congressional analysts said on Tuesday in a report that fueled debate as Congress took steps to approve a housing market rescue package.
The report sparked fresh declines in the value of the Fannie and Freddie shares that have already [...]
In a sign that the U.S. housing market may weaken further, an index of sales contracts to buy previously owned U.S. homes declined 4.7% in May from the prior month, the National Association of Realtors reported Tuesday. The index, which is considered a leading indicator of existing home sales, was down 14% from the May [...]
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 [...]