U.S. home loan demand cooled last week as rising mortgage rates curbed refinancing requests that had soared to a 14-month high, the Mortgage Bankers Association said on Wednesday.
U.S. home loan demand cooled last week as rising mortgage rates curbed refinancing requests that had soared to a 14-month high, the Mortgage Bankers Association said on Wednesday.
U.S. 30- and 15-year mortgage rates fell to fresh lows in the past week amid concerns about the economy, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
U.S. mortgage applications jumped last week as demand for loans to purchase homes rose for the first time in five weeks, the Mortgage Bankers Association said on Wednesday.
Bank of America Corp modified U.S. mortgages at a slower rate in June under the government's primary program to stem foreclosures, due to changing program requirements, the company said on Tuesday.
Banks repossessed a record number of U.S. homes in the second quarter, but slowed new foreclosure notices to manage distressed properties on the market, real estate data company RealtyTrac said on Thursday.
Three straight weeks of record low mortgage interest rates has spurred another refi boom. That's understandable: The idea of locking in 4.5 percent for 30 years is really tempting.
Demand for loans to purchase U.S. homes sunk to a 13-year low last week, and refinancing demand also slid despite near record-low mortgage rates, the Mortgage Bankers Association said on Wednesday.
The federal regulator of Fannie Mae and Freddie Mac on Monday said it is seeking to determine if issuers of private mortgage bonds are liable for losses suffered by the two housing finance giants.
A unit of British group Lloyd's plans to sell A$598 million ($524 million) of debt backed by auto-loans, a joint lead manager said on Monday.
U.S. 30-year mortgage rates dropped to a new record low in the past week, according to a survey released on Thursday by Freddie Mac FMCC.OB, as concerns mounted about the economic recovery.
Wells Fargo & Co, the fourth-largest U.S. bank by assets, said on Wednesday it is closing more than 600 Wells Fargo Financial offices and will no longer originate non-prime mortgages.
Mortgage rates slid to fresh record lows in the latest week amid tepid economic growth and tame inflation, home funding company Freddie Mac said on Thursday.
Private sector employment rose less than expected in June, underscoring concerns about a weak labor market, while U.S. Midwest business activity grew slightly more than expected.
Nearly one out of every three U.S. home sales in the first quarter was a foreclosure property as steep price discounts boosted demand for distressed real estate, RealtyTrac said in a new report on Wednesday.
Refinancing drove total U.S. mortgage applications to an eight-month peak, as loan rates fell to or near record lows, but demand to buy homes sank toward 13-year lows last week, the Mortgage Bankers Association said on Wednesday.
The four largest mortgage lenders in the United States were grilled on Capitol Hill on Thursday about the limited number of home loans they have modified for homeowners facing foreclosure.
Mortgage rates dropped in the past week, with 30-year fixed-rate loans tumbling to their lowest level in 39 years, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
Some of the states hit hardest by the slump in housing prices will be able to tap into a special $1.5-billion fund on Wednesday that is intended to head off some foreclosures.
Mortgage applications fell from a six-month peak last week as the lowest interest rates in over a year failed to foster demand for refinancing or home purchase loans.
Some low-risk home loans that meet certain underwriting guidelines will no longer be eligible for an exemption from a broader rule requiring so-called skin-in-the-game if House Financial Services Committee Chairman Barney Frank gets his way as lawmakers put the final touches on new rules for Wall Street.
U.S. authorities have charged 1,215 people in hundreds of mortgage fraud cases that resulted in estimated losses of $2.3 billion, top Obama administration officials said on Thursday, unveiling a crackdown after the housing market collapse.
