Mortgages Archives

Few financial advisers would recommend it, but more and more Americans are walking away from “underwater” mortgages. Hey, if the money’s not there and the late mortgage payments are stacking up, leaving the keys in the mailbox and backing up the moving truck might seem like a way out. But if you do so, know the ramifications — because they stack up, too. Read more»
A growing number of mortgage applicants, especially those refinancing older loans, are opting for 15-year mortgages instead of the 30-year variety, according to the Mortgage Bankers Association. Read more»
The Benefits of A Speedier Mortgage
By: The Associated Press
BOSTON (AP) — "You have nothing to lose and so much to gain — $103,162!" Like most recent homebuyers getting such pitches, I haven't been enticed to pay my mortgage down faster. The gist is that by switching from monthly to biweekly payments, I can save a bundle from cutting out years of interest payments. Read more»
FHA Loans Will Get Pricier Soon
By: Brian O'Connell
In the “you know that it was too good to be true” department, the Federal Housing Administration is about to make it more expensive and more difficult to get an FHA mortgage loan. Why? Money is drying up and the FHA believes it has to protect its very survival. Here’s the story. Read more»
Mortgage Trends This Week: Dec. 14
By: Brian O'Connell
You have to hand it to the American consumer. Faced with a ravaged economy, millions of lost jobs and the potential descent of the U.S. as a global economic superpower, the Great American Consumer shrugs his or her shoulders, sees lemons and makes lemonade. Read more»
With mortgage rates holding steady at historically low rates, does it make sense to pay a fee to lock in a loan rate until closing? Read more»
For 364 days of the year, most of us wish that we had more income, but on April 15, we wish the exact opposite. Here's where home mortgage interest comes in. If you itemize your deductions, the IRS allows you to subtract your mortgage interest payments from your income. But did you know that prepayments of mortgage interest are also deductible? Read more»
Today’s mortgage rates are low enough to make borrowers salivate. Freddie Mac (Stock Quote: FRE) says its survey puts the average 30-year, fixed-rate loan at 4.71%, the lowest in at least 38 years. The Survey puts the number at an enticing 4.955%. Read more»
Mortgage Trends This Week: Dec. 7
By: Brian O'Connell
A surprisingly positive U.S. employment report boosted thoughts of an economic recovery, and with it, higher mortgage rates for U.S. mortgage customers. Specifically, 15-and 30-year mortgage rates were on the upswing, as measured by’s Weekly Mortgage Rate Tracker. Fifteen-year rates shot up to 4.46% from 4.41%, while 30-year mortgages rose to 5.01% from 4.92%. Read more»
By Alan Zibel, AP Real Estate Writer WASHINGTON (AP) — Faced with sluggish progress in its foreclosure-prevention effort, the Obama administration will spend the coming weeks cracking down on mortgage companies that aren't doing enough to help borrowers at risk of losing their homes. Read more»
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