home loans - Articles

Mortgage Rates Slip, Edge Closer to Record Low Levels

Tony Dejak/AP WASHINGTON -- Average U.S. rates on fixed mortgages declined this week, edging closer to historically low levels as the spring home-buying season begins. Mortgage buyer Freddie Mac says the average rate for the 30-year loan fell to 4.34 percent from 4.41 percent last week. The average for the 15-year... Continue Reading »

Mortgage Applications Fall as Refinancing Drops

Getty Images By Luciana Lopez NEW YORK -- Applications for U.S. home mortgages fell last week as refinancing slipped, an industry group said Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 1.6... Continue Reading »

Mortgage Applications Fall in Latest Week

By Caroline Valetkevitch NEW YORK -- Applications for U.S. home mortgages fell last week as both purchase and refinancing applications slipped, an industry group said Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home... Continue Reading »

City Offers $200,000 Loans to Middle-Class Homebuyers

Jeff Chiu/The Associated Press SAN FRANCISCO -- San Francisco will now lend as much as $200,000 to some homebuyers toward a down payment on their first house or condominium. Mayor Ed Lee's decision to double the previous limit of $100,000 was intended to help middle-class residents who have been hit hard by the housing... Continue Reading »

Mortgage Rates Edge Up, Remain Near Historic Lows

David Paul Morris/Bloomberg via Getty Images WASHINGTON -- Average U.S. rates on fixed mortgages rose last week but remained close to historically low levels. Mortgage buyer Freddie Mac says the average rate for the 30-year loan increased to 4.37 percent from 4.28 percent last week. The average for the 15-year mortgage... Continue Reading »

Mortgage Applications Slip in Latest Week

Daniel Acker/Bloomberg via Getty Images By Luciana Lopez NEW YORK -- Applications for U.S. home mortgages fell in the latest week as interest rates edged higher, an industry group said Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both... Continue Reading »

U.S. Mortgage Applications Rise in Latest Week

Alamy By Caroline Valetkevitch Applications for U.S. home mortgages rose last week as interest rates slipped, an industry group said Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 9.4 percent... Continue Reading »

Freddie Mac to Pay Treasury $10.4 Billion on Record Profit

Alamy By Margaret Chadbourn WASHINGTON -- Freddie Mac said Thursday it will soon send the U.S. Treasury a $10.4 billion dividend after posting a ninth straight quarterly profit, putting taxpayers further into the black on their bailout of the mortgage giant. When it makes the payment next month, Freddie Mac will have... Continue Reading »

Mortgage Applications Tumble to Lowest Level in 2 Decades

Alamy By Diana Olick Mortgage applications to buy a home fell last week to the lowest level in nearly two decades, according to a weekly survey from the Mortgage Bankers Association. The report is a clear sign of weakness in buyer demand heading into the usually busy spring housing season. "Purchase applications were... Continue Reading »

Housing Starts, Permits Tumble; Mortgage Applications Fall

AP By Lucia Mutikani and Rodrigo Campos WASHINGTON -- U.S. housing starts recorded their biggest drop in almost three years in January, likely weighed down by harsh weather, but the third month of declines in permits pointed to some underlying weakness in the housing market. That weakness was evident in another report... Continue Reading »

U.S. Homebuilder Confidence Sinks in February

Chuck Burton/AP By ALEX VEIGA U.S. homebuilders' confidence in the housing market has declined sharply as the severe weather battering much of the nation keeps many would-be buyers at home. Storms and cold weather dampened builders' outlook for sales ahead of the spring home-selling season and could further slow the pace... Continue Reading »

Mortgage Rates Tick Up After 5 Down Weeks

Daniel Acker/Bloomberg via Getty Images WASHINGTON -- The average U.S. rate on a 30-year fixed mortgage edged up this week to 4.28 percent from 4.23 percent but remains near historically low levels after declining during the five previous weeks. Mortgage buyer Freddie Mac said Thursday that the average for the 15-year... Continue Reading »

Repossessions Drop to Lowest Level in More Than 6 Years

Alamy By ALEX VEIGA LOS ANGELES -- Lenders repossessed fewer U.S. homes in January, bringing the number of completed foreclosures down to the lowest level in more than six years. Even so, many states posted sharp increases in the number of homes entering the foreclosure process for the first time, a trend that raises the... Continue Reading »

Fewer Americans Fall Behind on Mortgage Payments

David Calvert/Bloomberg via Getty Images By ALEX VEIGA LOS ANGELES -- U.S. homeowners are doing a better job of keeping up with mortgage payments, a trend that has reduced the rate of late payment on home loans to the lowest level in more than five years. The percentage of mortgage holders at least two months behind on... Continue Reading »

Mortgage Rates Continue Downward Trend

Daniel Acker/Bloomberg via Getty Images WASHINGTON -- Average U.S. rates for fixed mortgages fell this week as the latest data continued to indicate a pause in the housing market's recovery. Mortgage buyer Freddie Mac says the average for the 30-year loan declined to 4.23 percent from 4.32 percent last week. The average... Continue Reading »

Mortgage Rates Slip a Bit in Latest Week

AP WASHINGTON -- Average U.S. rates for fixed mortgages changed little this week. Mortgage buyer Freddie Mac said Thursday the average for the 30-year loan declined to 4.39 percent from 4.41 percent last week. The average for the 15-year loan slipped to 3.44 percent from 3.45 percent. Mortgage rates have risen about a... Continue Reading »

Homes Lost to Foreclosure Hit 6-year Low Last Year

Alamy By ALEX VEIGA LOS ANGELES -- The number of U.S. homes that got started on the path to foreclosure fell last year to a low not seen since before the high-flying days of the housing boom, the latest evidence that the threat of foreclosures continues to diminish. Lenders also took back the fewest number of homes last... Continue Reading »

Average U.S. Rate on 30-Year Loan at 4.41%

AP WASHINGTON -- Average U.S. rates for fixed mortgages declined this week, edging closer to historically low levels. Mortgage buyer Freddie Mac says the average for the 30-year loan fell to 4.41 percent from 4.51 percent last week. The average for the 15-year loan eased to 3.45 percent from 3.56 percent. Mortgage rates... Continue Reading »

Mortgage Applications Jump on Lower Rates

Nam Y. Huh/AP By Luciana Lopez NEW YORK -- Applications for U.S. home mortgages jumped in the latest week, extending a recovery from a 13-year low at the end of December, an industry group said Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes... Continue Reading »

Can't Afford a Home Repair? 3 Ways to Get Financial Help

BadCat13/Flickr By Geoff Williams If you had to have your furnace or pipes fixed after that recent cold snap, you aren't alone. According to a study last year by the Joint Center for Housing Studies at Harvard University, approximately $300 billion is spent on home remodeling and maintenance every year in the United... Continue Reading »

Mortgage Rates Slip Just a Bit in Latest Week

David Ryder/Bloomberg via Getty Images WASHINGTON -- Average U.S. rates for fixed mortgages barely changed this week, hovering near historically low levels. Mortgage buyer Freddie Mac says the average for the 30-year loan slipped to 4.51 percent from 4.53 percent last week. The average for the 15-year loan edged up to... Continue Reading »

Mortgage Applications Edge Up in Latest Week

Chuck Burton/AP By Luciana Lopez NEW YORK -- Applications for U.S. home mortgages edged higher in the latest week, rebounding from a 13-year low set at the end of last year, an industry group said Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which... Continue Reading »

New Finance Agency Chief Mel Watt Might Loosen Credit

Susan Walsh/The Associated Press By Margaret Chadbourn Mel Watt, who was sworn in on Monday to head the agency that regulates mortgage finance firms Fannie Mae and Freddie Mac, has signaled a new approach to U.S. housing policy that will put more of an emphasis on ensuring access to credit. Watt, a 68-year-old North... Continue Reading »

Average U.S. 30-Year Mortgage Rises to 4.48%

Matt York/AP WASHINGTON -- Average U.S. rates for fixed mortgages crept higher this week but remained low by historical standards. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan increased to 4.48 percent from 4.47 percent last week. The average on the 15-year fixed loan rose to 3.52 percent... Continue Reading »

Average U.S. Rate on 30-Year Loan Rises to 4.46%

David Ryder/Bloomberg via Getty Images WASHINGTON -- Average U.S. rates for fixed mortgages rose sharply this week, making home-buying slightly less affordable. Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year loan jumped to 4.46 percent from 4.29 percent last week. The average on the 15-year fixed... Continue Reading »

U.S. Average on 30-Year Mortgage Rises to 4.29%

Matt York/AP By CHRISTOPHER S. RUGABER WASHINGTON -- Average U.S. mortgage rates rose modestly this week, a move that makes home-buying a bit less affordable. Still, rates remain near historically low levels. Mortgage buyer Freddie Mac says the average rate on the 30-year loan increased to 4.29 percent from 4.22 percent... Continue Reading »

Fannie and Freddie's Mortgage Size Limits Won't Drop in 2014

Alamy By Margaret Chadbourn WASHINGTON -- The maximum size of U.S. home loans that taxpayer-owned Fannie Mae and Freddie Mac can buy will hold steady next year, their regulator said on Tuesday, deferring a decision on when to pull back government support for the housing market. The mortgage financiers will continue to... Continue Reading »

Fewer Americans Apply for Mortgages in Latest Week

Ron Antonelli/Bloomberg via Getty Images Applications for U.S. home loans fell in the latest week, dropping for a third straight week, data from an industry group showed Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home... Continue Reading »

Average U.S. Rate on 30-Year Mortgage at 4.16%

BankofAmerica.com/AOL WASHINGTON -- Average U.S. rates on fixed mortgages rose slightly last week but remained near historically low levels. Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan increased to 4.16 percent from 4.10 percent last week, which was the lowest level in four months.... Continue Reading »

Home Equity Loans Making a Comeback

Shutterstock Home equity loans have reappeared as an option for many homeowners, giving remodeling projects a green light. Maybe you're thinking about renovating the kitchen, adding on a bathroom, how about replacing the roof? All of these and other improvements tend to be costly. So what's the best way to finance these... Continue Reading »

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