Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.
U.S. 30- and 15-year mortgage rates fell to fresh lows in the past week amid concerns about the state of the economic recovery, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
Interest rates on U.S. 30-year fixed-rate mortgages, the most widely used loan, averaged 4.56 percent for the week ended July 22, down from the previous week’s 4.57 percent and its year-ago level of 5.20 percent, according to the survey. Get the full story »
Sometimes you are doomed if you do and doomed if you don’t.
That’s the case now with mortgage payments you can’t afford to pay. When you are missing payments, you are lowering your credit score, so your lenders get rough on you — increasing interest on credit cards, for example, and making it harder to get your feet on the ground. On the other hand, your score also gets hammered if you get a loan modification.
Only four of the eight largest mortgage servicers have committed to participate in a government-sponsored, yet voluntary, program designed to aid troubled homeowners with second mortgages, new data released Tuesday shows.
Of the four servicers participating in the second lien modification program — Bank of America, CitiMortgage, JPMorgan Chase and Wells Fargo Bank — only Bank of America and Chase were “operationally ready” and extending modification offers to consumers this spring, the Treasury Department said Tuesday. Get the full story »
U.S. 30-year fixed mortgage rates held at record lows last week, while shorter-term borrowing costs hovered at or near all-time lows, home funding company Freddie Mac said Thursday. The 30-year mortgage rate stayed at 4.57 percent for the week ended July 15, matching the prior’s week’s all-time low in Freddie Mac records dating back to 1971. Get the full story »