The goal of the Federal Reserve's agency MBS program is to provide support to mortgage and housing markets and to foster improved conditions in financial markets more generally. Only fixed-rate agency MBS securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae are eligible assets for the program. The program includes, but is not limited to, 30-year, 20-year and 15-year securities of these issuers….(read more)
Zero interest on I bond confuses saver
The rules surrounding interest payment cycles often confuse savers who have Series I savings bonds.
How to keep the house post-bankruptcy
If the property isn’t in foreclosure, contact your lender to see if a loan modification is possible.
Freddie Mac Weekly Summary: Slight Increases in Mortgage Rates
Home buyers and refinancers waiting and hoping for a return of record low rates suffered a setback this week as fixed rates reversed a three-week downward trend. Only the short-term adjustable rate mortgage was lower than the previous week. …(read more)
Refi second mortgage to pay off card debt
Paying off your credit card is only half the task. Don’t start the cycle over by creating new debt.
Rising Mortgage Rates Slow Application Activity
Mortgage rates climbed for the second straight week, pulling down demand for mortgage applications, particularly for refinancing, according to a weekly industry survey. The Mortgage Bankers Association said average rates for a 30-year mortgage moved up 0.05 percentage points to 5.36% in the week ending July 24, which follows a rebound from 5.05% to 5.31% in the prior week. The jump in rates caused demand to shrink for the first time in four weeks….(read more)
Mid-Day Recap: Risk Averse Attitude Moves Stocks Lower. Yield Curve Rallies
Housing data was positive this morning but markets are reeling from mixed earnings reports and weak consumer confidence. Ninety minutes into the session, all three major indexes are trading lower, following 11 days of rapid gains. As of 11:00, the S&P 500 is the worst of the bunch, down 0.52% at 977, while the Dow is trading 0.28% lower at 9083, and the Nasdaq has fallen 0.29% to 1962….(read more)
S&P Says Home Prices Improve for Fourth Straight Month
Home prices across the nation improved for their fourth consecutive month in May but remain about 17% lower than one year ago, according to the S&P Case-Shiller Home Price Index. The 10-City and 20-City Composites are 16.8% and 17.1% lower, respectively, compared to May 2008. Historically, those are major declines, but in the current context they represent the slowest annual price drops in close to a year. Just one month before, the figures were -18.0% and -18.1%….(read more)