Mortgages Archives

By JULIE HIRSCHFELD DAVIS and ALAN ZIBEL Associated Press Writers WASHINGTON (AP) — The same mortgage lenders that candidate Barack Obama accused last year of causing the housing mess would get a windfall from President Obama's government under his foreclosure rescue program.   Read more»

By sbup StaffA rate reset on an adjustable-rate mortgage (ARM) can be stressful. But thanks to historically low interest rates, there's a good chance your rate will actually go down if it’s scheduled to reset in the next few months. If that's the case, you might be better off sticking with your ARM a little longer, despite the low rates on fixed-rate mortgages (FRMs). Read more»

By LIZ SIDOTI Associated Press Writer MESA, Ariz. (AP) — President Barack Obama threw a $75 billion lifeline to millions of Americans on the brink of foreclosure Wednesday, declaring an urgent need for drastic action — not only to save their homes but to keep the housing crisis "from wreaking even greater havoc" on the broader national economy. Read more»

By MATTHEW BARAKAT AP Business Writer WOODBRIDGE, Va. (AP) — Just out of college and eager to move out of her parents' home, Karin Gagnon became giddy when her name was called out Tuesday in a unique lottery. Read more»

by Norm Conley, RealMoneyI  really don't have much of an opinion on exactly when real estate prices will bottom, but even though I don't have a sense on the exact timing of a bottom, I do believe that the bottom in the residential real estate market (when it arrives) will be an important clue to the timing and magnitude of the eventual economic recovery. Read more»

By Mark JewellAP Personal Finance Writer BOSTON (AP) — While it may be more Main Street-friendly than last fall's initial bailout, don't expect the financial relief overhaul announced Tuesday to be an equal-opportunity plan. Read more»

By M. Gwertzman, sbupOne of the most prominent casualties of the stimulus compromise deal reached on Wednesday is the $15,000 tax home credit for homebuyers that had been included in the Senate’s original plan. Read more»

By ALAN ZIBEL AP Real Estate Writer For Gail Robinson, a real estate agent in Connecticut who has seen her business limp along since the stock market plummeted last year, it was the best news in ages. Read more»

By Peter McDougall, sbup After falling for nearly three straight months, interest rates on 30-year fixed rate mortgages (FRMs) inched upwards for the third week in a row this past week. Rates are still relatively low compared to historic levels, however, so there’s still time to apply for a new mortgage at an affordable rate. Read more»