U.S. mortgage applications for home purchasing and refinancing increased last week as interest rates hit a new low, a glimmer of hope for a housing market that has failed to find footing in the absence of government support.
House prices fell much faster than expected last month but further declines are likely to be modest, mortgage lender Nationwide said on Thursday.
Net lending to British households unexpectedly fell to a four-month low last month after a sharp decline in mortgage lending, reinforcing economists' concerns that tight credit conditions may hamper future growth.
Mortgage approvals and consumer credit rose unexpectedly in July, but weak mortgage lending pushed total net lending to its lowest since March, Bank of England figures showed on Tuesday.
Mortgage approvals and consumer credit lending rose unexpectedly in July, but total net lending was its weakest since March, Bank of England figures showed on Tuesday.
U.S. mortgage rates fell in the latest week to the lowest on record and posted their ninth drop in the last ten weeks, Freddie Mac said on Thursday.
Loss-making U.S. mortgage insurers such as billionaire John Paulson-invested PMI Group stand to gain as their bigger federal rival, the FHA, raises its premium rates to boost its cash cushion.
Mortgage applications rose last week as record low rates lifted demand for home refinancing loans to its highest level in over 15 months, a development that could provide a much-needed jolt to the economy.
A mortgage servicing company's claims that would push responsibility for faulty mortgage loans onto Wall Street titan Morgan Stanley were dismissed by a Delaware court, according to a court filing.
Nearly half of homeowners getting help through the Obama administration's premier housing rescue program have dropped out through July as many failed to document their eligibility, the U.S. Treasury said on Friday.
The Federal Reserve's balance sheet shrank in the latest week, partly due to a decline in its holdings of mortgage-related securities, Fed data released on Thursday showed.
U.S. mortgage rates fell in the past week to the latest in a series of record lows amid concerns about the state of the U.S. economy, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
Mortgage applications leaped last week as rock-bottom rates lifted demand for home refinancing loans to its highest level in 15 months, the Mortgage Bankers Association said on Wednesday.
Suze Orman speaks to IBTimes about the current economic situation for Americans and gives advice to people with underwater mortgages and seniors living on fixed income.
The Federal Reserve and other top regulators said on Monday reverse mortgages pose compliance and reputation risks for lenders, and offered guidance to financial firms on how to avoid such pitfalls.
The Federal Reserve on Monday published new rules aimed at protecting consumers from abusive mortgage practices, including clearer cost disclosures and a ban on payments to mortgage brokers for steering borrowers into loans with higher interest rates.
Home loan rates set new lows in the latest week on more evidence of a soft U.S. economy and high unemployment, home funding company Freddie Mac said on Thursday.
More Americans fell into foreclosure in July as a sour job market kept them from making payments, and banks took over homes at a near record pace.
The Obama administration on Wednesday nearly doubled to $4.1 billion the size of its foreclosure prevention program to help struggling homeowners hardest hit by falling home prices and rising unemployment.
Unemployed homeowners in 17 U.S. states and the District of Columbia will soon be eligible for government help to avert foreclosure under a $2 billion program announced on Wednesday.
Home loan demand climbed last week but record low mortgage rates failed to light a fire in a market constrained by unemployment and tight lending practices.
The Federal Reserve on Tuesday said it would begin funneling proceeds from its maturing mortgage bonds into longer-term government debt in an effort to support a sputtering economic recovery.
