Mortgages Archives

The announcement that the Federal Reserve endorsed new rules for lenders of subprime mortgages, which includes banning low-documentation loans and setting limits on penalties for borrowers who want to repay their loans early, set off a debate about how effective the plan would be -- and who would really benefit from it.   Read more»

Mortgage rates fell to their lowest levels in more than two years as financial markets took it on faith that the Federal Reserve will cut short-term rates next week, according to a survey by Freddie Mac (FRE) .   Read more»

By Sheree Curry The National Association of Realtors announced that existing-home sales are projected to show a slight increase in 2008, though many measures still indicate that housing is likely to remain weak for some time.   Read more»

Though the housing downturn is straining many people, this might actually be good news for buyers -- particularly those of a vacation home, condo or a home in the center of the country, some experts say. Read more»

To remedy the U.S. mortgage crisis, Congress is considering loosening the regulatory reins on two publicly traded financial behemoths that, not long ago, were mired in accounting scandals and forced to make earnings restatements totaling more than $20 billion -- dwarfing those of Enron and WorldCom combined. Read more»

Places don't get much richer than Nantucket.  The quaint Massachusetts island is an enclave of the super-rich. This is where John and Teresa Heinz Kerry rub shoulders with the likes of Frank and Kathie Lee Gifford, and countless hedge fund tycoons. The streets of the old whaling town are crowded with chi-chi stores and pretentious restaurants.   Read more»

By Alan Zibel -- AP Real Estate Writer WASHINGTON (AP) — Fannie Mae issued a grave warning about its future, saying it needs $19 billion in additional government aid as job losses grow and risky loans made during the housing boom go bad at an unnerving pace. Read more»