Lawmakers Limited in Mortgage Mess Fixes (AP via Yahoo! Finance)
If you want to see a Democratic or Republican congressman squirm, mention a multibillion-dollar bailout for the housing market crisis. The apparent discomfort contrasts with reality: most risky home loans made near the end of the housing boom can't be salvaged....more...Bankrate: Mortgage Rates Fall Sharply on Housing and Economic Worries (KIFI-TV Idaho Falls)
NEW YORK, Oct. 25 /PRNewswire-FirstCall/ -- Mortgage rates dropped notablythis week, with the average conforming 30-year fixed mortgage rate now 6.31percent....more... Countrywide Moves to Ease Mortgage Misery (BusinessWeek Online via Yahoo! News)
On the eve of the mortgage rate resets for a swath of subprime and prime mortgages, Countrywide Financial on Oct. 23 unveiled a new program that will help up to 82,000 homeowners avoid foreclosure by allowing them to refinance or modify their mortgage loans. But analysts say that the program, which the company's COO called an "unprecedented remedy" in a press release, is just calling public ......more... Mortgage industry slow to modify loans (The Kansas City Star)
LOS ANGELES | Countrywide Financial Corp. said Tuesday that it would offer borrowers refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008....more... Mortgage rates fall (CNN Money)
Fears of a slowing economy over the next few months helped push mortgage rates lower, Freddie Mac reported Thursday....more... Bankrate: Mortgage Rates Fall Sharply on Housing and Economic Worries (PR Newswire via Yahoo! Finance)
Mortgage rates dropped notably this week, with the average conforming 30-year fixed mortgage rate now 6.31 percent. According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.34 discount and origination points....more... No. 1 mortgage lender to offer relief (Miami Herald)
Countrywide Financial, the nation's largest mortgage lender, said Tuesday it will begin calling borrowers to offer refinancing or modifications on $16 billion in loans with interest rates set to adjust by the end of 2008....more... Rates drop, and so do home sales (Bankrate.com)
Home sales are crashing and investors are losing billions of dollars on bad home loans. All in all, it spells great news for mortgage rates. The benchmark 30-year fixed-rate mortgage fell 18 basis points to 6.31 percent, according to the Bankrate.com national survey of large lenders....more... US mortgage lender offers to refinance loans (Stuff)
Countrywide Financial, the largest US mortgage lender, offered to refinance or modify up to $US16 billion ($NZ21 billion) of adjustable-rate mortgages through the end of 2008 to help about 82,000 borrowers who face higher payments stay in their homes....more... |