Archive for the 'Mortgage News' Category
U.S. Libor Rates Higher on Friday
U.S. inter-bank lending rates are higher on Friday as
renewed concerns by the fate of the economy are back again in the
forefront.
An exposition in the Wall Street Journal on Friday suggests that U.S.
banks are raising deposit rates in a tender to attract more capital from
consumers…
Read …
Fed’s Bernanke Says More Co-ordinated Measures Possible
Speaking at a panel discussion at the European Central Bank,
Fed Chairman Ben Bernanke is said that while monetary
policy has not resolved the financial market crisis, global policy-makers
stand ready to take further measures whether needed.
“The current financial crisis and global profitable s…
Survey of Remodelers Show Work, Expectations in Decline
It probably isn’t startling news, but as Americans are cutting back on
spending for non-essentials such as vacations and electronics, they are
plus spending a lot less on spiffing up or even maintaining their
homes.
The National organization of Home Builders (NAHB)
released its Remodeling Marke…
Rates Pause in Roller-Coaster Ride
Mortgage interest rates declined for the moment week
in a row according to the Primary Mortgage Market Survey released
Thursday dawn by Freddie Mac. that was a change in the recent up-one-
week, down-the-next behavior exhibited by rates since early October.
During that period rates reversed d…
Lower Rates Spark Increase in Mortgage Applications
Mortgage applications increased nearly 12 percent
during the week ended November 7 compared with the week ended October 31
according to the Weekly Mortgage Applications Survey conducted by the
Mortgage Bankers organization (MBA). The increase on a seasonally
adjusted basis was 11.9 percent and…
RealtyTrac Says U.S. Foreclosures Rose 5% in October
Foreclosure activity in the United States is not
relenting, according to RealtyTrac’s latest survey for October, which
suggests filings rose 5% in October and 25% from 12 months ago.
“We’ve seen sharp declines in new foreclosure filings after
legislation mandating delays to the foreclosure proce…
MBA Mortgage Applications Move Higher in Week Ending November 7
Weekly mortgage applications in the United States
increased in the week ending Nov. 7, according to documents released from the
Mortgage Bankers’ organization (MBA) on Thursday, which
reported an 11.9% week-over-week gain in applications.
In the preceding week, applications fell by 20.3%.
The p…
U.S. Inter-Bank Lending Rates Higher After TARP Revamp
One day after the Treasury Department’s announcement that it will not
purchase troubled assets from firms, opting in favour of fairness
injections instead, overnight lending rates in the
United States are higher on Thursday AM.
According to the British Banker’s organization, the overnight
USD L…
Paulson Abandons Asset-Purchase Plan, Expands Capital Injection Approach
Treasury Secretary Henry Paulson said the original notion behind
the $700 billion rescue package is no longer an effective use of the
allocated funds. That approach has been abandoned in favour of
the Capital Purchase Plan, which is already directing liquidity into
financial firms, he announced …
Fed, FDIC and Treasury Issue Joint Statement on Bank Practices
The department of the Treasury, the Federal Deposit Insurance
Corporation, and the Federal Reserve issued a joint
statement highlighting recent measures taken to bolster the
financial system, making recommendations for financial institutions on
how to navigate the crisis.
Read More Now
Origi…
Paulson Unveils Phase Two of TARP
Delivering an update to the Troubled Asset Relief Program
(TARP), U.S. Treasury Secretary Henry Paulson said that
purchasing troubled assets - the original intention of the $700 billion
rescue package - is not an effective use of the program.
“It was clear to me by the day the bill was signed o…
Wednesday’s Events: Paulson to Give TARP Update; Fed Speakers & Bond Auctions
Comments from the U.S. Treasury division on the TARP
Program, some Fed speakers, and bond auctions from Canada and
the United States are the main highlights of the day’s
macroeconomic data docket.
Read More Now
Original post by Mortgage News Daily - Mortgage And Real Estate News
FHFA Announces Loan Modification Program for Fannie, Freddie
Federal Housing Finance Agency (FHFA) director James
Lockhart announced on Tuesday that the FHFA, along with Fannie Mae and
Freddie Mac, would be adopting a new, streamlined approach to
loan modifications.
Lockhart said the loan modification program, which he is asking to be
adopted as the ind…
Fannie Mae, Freddie Mac to Modify Approach to Foreclosure Prevention, WSJ Says
Government-sponsored enterprises Fannie Mae and
Freddie Mac are expected to announce a program
to help homeowners modify loans and prevent foreclosures,
according to the Wall Street Journal, who cited unnamed U.S.
officials.
The program, expected to be announced at 2 p.m. EST, would be an
exte…
