Mortgages Archives

By Farnoosh Torabi, MainStreetNeed some help figuring out your home loan? A new web site, Home-Account.com plans to revolutionize the $11 trillion mortgage industry by making the process easier to understand. Read more»
Low Mortgage Rates Could Spur Housing Rebound
By: manybanking.com Staff
By Lauren Tara LaCapra, TheStreet.comMortgage rates are once again approaching all-time lows set in January, a result of the weaker economy that may help spur a rebound in the housing market, Freddie Mac said on Thursday. Read more»
30-Year Fixed Mortgage Rate Slips
By: manybanking.com Staff
McLEAN, Va. (AP) — Rates on 30-year-fixed mortgages declined this week amid reports of a weakening job market and easing concerns over inflation, Freddie Mac said Thursday. Read more»
By sbup StaffMortgage rates dropped one-fifth of a percentage point over the past seven days, according to the manybanking.com Mortgage Rate Index.Interest rates on 30-year fixed-rate mortgages (FRMs) averaged 5.26% for the seven days ending March 12, down from an average of 5.45% on March 5. Rates on 15-year FRMs were also down, dropping to an average of 4.94% from last week's average of 5.02%. Read more»
New FICO Score Targets Lending Risks
By: manybanking.com Staff
By sbup Staff Read more»
Freddie Mac Seeks $30.8B in US Aid After 4Q loss
By: manybanking.com Staff
By Alan Zibel AP Real Estate WriterWASHINGTON (AP) — Freddie Mac said Wednesday it will ask the government for nearly $31 billion in additional aid after posting a gargantuan loss of more than $50 billion last year as the U.S. housing market worsened. Read more»
Bill Seeks Stronger Consumer Finance Protections
By: manybanking.com Staff
By Christopher S. RugaberAP Economics Writer WASHINGTON (AP) — Lawmakers proposed Tuesday to create a new government agency that could stop lenders from offering mortgages and other financial products deemed unsafe for consumers. Read more»
By Julie Hirschfeld DavisAssociated Press WriterWASHINGTON (AP) — With foreclosures continuing at a rapid pace, the House has passed a measure to let debt-strapped homeowners seek reduced monthly mortgage payments by filing for bankruptcy. The legislation, passed Thursday, is not yet final and more changes may be made. Read more»
The ARM's Little Known Benefit
By: manybanking.com Staff
By Jeff Brown, sbup Adjustable rate mortgages aren’t very popular with folks seeking new loans these days, since they don’t offer much upfront savings. But if you’re thinking of getting rid of an ARM you already have, keep in mind a benefit often overlooked: making extra principal payments on an ARM brings results much quicker than it does on a standard, fixed rate mortgage. Read more»
Despite Rate Drop, ARMs Still Risky
By: manybanking.com Staff
By sbup Staff Interest rates on adjustable-rate mortgages (ARMs) have declined over the past few weeks, just as rates on fixed-rate mortgages (FRMs) have trended upwards. But despite this shift, you still might want to think twice before applying for an ARM. Read more»
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