Tag Archives: ap reports

Fannie Mae Wants $4.6 Billion

President Obama’s plan to allow underwater homeowners to refinance their mortgages is only going to further drain government resources to prop up the housing industry. Over the next three years, Congress will be expected to pony up another $100 billion … Continue reading

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Obama Predicts It Will Take A Year For Housing To Turn Around

Most of the experts I hear and read say that it will take at least three years for home prices to rebound. The president says it will take a year. If the president says a year, I think it will … Continue reading

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30 Year Mortgages Approach 5%

Thirty year fixed rate mortgages are up nearly 1% over the past two months. This reduces the number of mortgages written, refinances applied for, homes sold and increases the number of homes underwater and going into foreclosure. The AP reports: … Continue reading

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Mortgage Modification Help

Banks such as Bank of America are hiring staff to deal with the flood of requests to modify mortgages. Politicians love to point fingers at the banks, saying they are not doing enough here, but why should banks modify mortgages? … Continue reading

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Mortgage Bonds

NEW YORK, May 28 (Reuters) – Rising issuance of Fannie Mae and Freddie Mac mortgage-backed securities has pushed the share of the debt in a key bond index to record heights in recent months, presenting new challenges to investors. The … Continue reading

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30 Yr Mortgage Rates Drop

The AP reports: Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages averaged 6.01 percent for the week ending May 15. Other rates also fell. Five-year adjustable-rate mortgages dropped to 5.57 percent, from 5.67 percent last week. One-year … Continue reading

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House To Get Rescue Bill

Will Republicans support it? Barney Frank pushed it. Barney’s not normally a Republican favorite. President Bush doesn’t want to sign a massive bailout. Why should the financially prudent bail out those who gambled and lost? That makes no economic sense. … Continue reading

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9 Big Ohio Lenders Want To Slow Foreclosures

The AP reports that lenders who hold a majority of Ohio’s home loans reached an agreement with Gov. Ted Strickland to help people keep their homes. This came after many weeks of negotiation. The first proposal from the governor last … Continue reading

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Democrats Call For Aggressive Goverment Intervention Into Housing Market

When real estate prices kept going up, there were calls for government intervention and affordable housing. Now prices are plunging and folks on the Left want different government intervention. The AP reports: WASHINGTON: As Treasury Secretary Henry Paulson proposed overhauling … Continue reading

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Congress Wants To Act On Credit Crisis

It’s America’s worst credit crisis since the Great Depression. Now the Federal Reserve wants to change the rules. Congress wants to pass legislation. The AP reports: WASHINGTON (AP) — The most sweeping overhaul of the nation’s financial system in seven … Continue reading

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