Tag Archives: u s home

Despite Record Low Mortgage Interest Rates, Mortgage Applications Declined Last Week

Interest rates aren’t everything when it comes to considering a mortgage. A more important consideration might be the state of the economy and an honest reckoning of one’s own prospects. Not many economists see economic growth ahead for several years. … Continue reading

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Consumers Expect Home Prices To Keep Falling

Expectations for home prices plunged in September to their lowest level in a year. That’s no surprise. Economic growth is weak. Unemployment is high. The stock market is gyrating in a frightening manner. The WSJ says: Consumer expectations for U.S. … Continue reading

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Wells Fargo Leaves The Reverse Mortgage Market

Wells Fargo is disproportionately in the mortgage business and is much more vulnerable to fluctuations in that market than the other major banks. To limit that exposure, Wells Fargo is gradually pulling back from various facets of the mortgage business. … Continue reading

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A New Model For Rating Mortgage Securities

As long as few want to buy mortgage backed securities, lenders won’t have money to lend for mortgages. The mortgage backed security market has been essentially dead since 2007. There are no signs of life. I don’t know when this … Continue reading

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U.S. Home Values Plunge In 2010

A few days ago, I reported how the economist nick-named Dr. Doom predicts that U.S. banks need to write off $1 trillion in mortgage losses. Now we have a report from Zillows predicting that U.S. home values will drop by … Continue reading

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Mortgage Delinquencies, Foreclosures Hit Record High

We’re talking about one in seven homes have home loans that are past due. This is the highest rate since this statistic has been tracked. And this is with massive government intervention into the mortgage market to reduce foreclosures. The … Continue reading

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More Loan Guarantees On The Way?

Reuters reports that the U.S. government may ask lenders to change mortgage terms to reduce foreclosures. In exchange, the FDIC would be willing to guarantee some mortgages. This program has not yet been fleshed out by the U.S. Treasury. Here’s … Continue reading

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US Home Values Plunge

Report: This statistic leads many industry experts to believe that the foreclosure crisis is only going to get worse. When a homeowner owes more than their home is worth, it’s difficult to refinance in any market. And it’s virtually impossible … Continue reading

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Fannie Mae Lifts Mortgage Fees

Aug. 5 (Bloomberg) — Fannie Mae, the largest U.S. mortgage- finance company, will raise a fee it charges lenders to buy their mortgages or guarantee home-loan securities, a move that may increase costs for borrowers. The latest fee increase will … Continue reading

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Regulating America’s Mortgages

NEW YORK (Associated Press) – A regulator whose agency would disappear under a Bush administration plan to revamp financial oversight says his agency should instead be given expanded power over the U.S. home loan market. John Reich, director of the … Continue reading

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