Mortgage News
Mortgage Rates Forecast: Mortgage Refinance Rates to 6% by 2011. Chief economist Cameron Findlay recently sat down with Fox Business News to give them his mortgage rates forecast and predictions for the mortgage refinance market and more.
House Passes Legislation Extending FTHB Tax Credit for Active Military. The House of Representatives voted unanimously Monday to extend the deadline for the home buyers’ tax credit for activy military.
FHA Commissioner: We Will Not Ask for More Money. The government agency protecting mortgage lenders against losses has been burning through its liquidity as it attempts to stem the rising tide of foreclosures, the Washington Post reported.
Homebuyer tax credit pushes California sales prices higher. “The federal tax credit for first-time buyers played a critical role in the purchase decision of many buyers,” said C.A.R. President James Liptak. “Nearly 40 percent of first-time buyers said they would not have purchased a home if the tax credit was not offered.
New push to extend first-time buyer tax credit. Bills to extend the maximum $8,000 tax credit for first-time home buyers, which expires Nov. 30, are pending in both the U.S. House and the Senate.
Tax Credit at Work: Existing Home Sales Continue to Improve. Great news for the housing market gave equities a boost after a week of up and downs. Sales of Existing Homes in July soared by 7.2% in the month, pushing the annualized pace of sales to 5.420 million, the highest rate in almost two years and the first time past the 5 million mark in nine months.
Bernanke Reflects on Crisis, Reitereates “Leveling Out”, Reminds of Slow Recovery. Stabilization from the worst global financial crisis since the 1930s appears to be underway, and though new activity may be slow in its early stages, noteworthy progress has already been made, said Ben Bernanke, chairman of the Federal Reserve.
Mortgage delinquencies break another record. The percentage of residential mortgages either in foreclosure or with at least one payment past due hit 13.16% in the second quarter, the highest percentage ever recorded by the Mortgage Bankers Association, the industry group reported on Thursday.
Frustration rises over mortgage relief program. After months of dead ends, rejections and runarounds from bank representatives, Dan Binder is still in loan modification limbo.
Are Mortgage Companies Artificially Slowing Foreclosures To Boost Balance Sheets? Bankers and mortgage companies are waging a financial war against the epidemic of foreclosures. Bankers have slowed down the foreclosure process in efforts to keep their losses in check and paint the face of an improving economy on banks’ balance sheets in an effort to show the real estate market is starting to heal, hoping consumer confidence will result.
Mortgage News – Home Builder Confidence. Builder confidence in the market for newly built, single-family homes rose one point in August to its highest level in more than a year, according to the latest reading of the National Association of Home Builders Housing Market Index (HMI), released today.
Mortgage News – $2.5 million in fraud. A financial adviser has been indicted on federal fraud charges that claim he operated a pyramid scheme that duped investors out of more than $2.5 million since 2006.
Energy efficiency incentives likely to grow. You’re probably familiar with some of the federal government’s incentives for home energy efficiency — heftier tax credits for solar panels, solar water heaters, geothermal heat pumps, heavy-duty insulation, windows, air conditioning and the like.But these are just the beginning of an unprecedented push by the government that’s getting underway for energy conservation in housing.