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Topic: Mortgage Banking and Services

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  • Wells Fargo to pay $175M in discrimination lawsuit

    Wells Fargo allegedly engaged in a pattern or practice of discrimination against qualified African-American and Hispanic borrowers from 2004 through 2009. Wells Fargo will pay $125 million in compensation for borrowers who were steered into subprime mortgages or who paid higher fees and rates than white borrowers because of their race or national origin

  • Paper Economy Mortgage rates fall to 3.71 percent, hit yet another record low

    Mortgage rates with a 30-year fixed interest rate declined to 3.71% since last week while the purchase application volume increased 3.0% and the refinance application volume declined 3.0% over the same period. last week's disappointing jobs report pushed mortgage rates to their 10th record low in 12 weeks.

  • Mortgage rates fall to new record lows

    Mortgage rates fell again to new record lows, providing prospective buyers with more incentive to brave a modestly recovering housing market. 30-year fixed mortgage rates slipped to 3.62 percent, down from 3.66 percent last week.

  • Paper Economy Fixed-rate mortgage interest rates remain flat this week

    Results of a weekly survey covering all residential mortgage originations shows the average rate for a 30 year fixed rate mortgage went flat since last week while the purchase application volume declined 1.0 percent.

  • 30-year mortgage rate falls to record 3.66 percent

    30-year mortgage rates continued to spiral downward last week, falling to yet another low. The average 30-year mortgage rate fell to record low for the seventh time in eight weeks.

  • Paper Economy More news on the housing front as mortgages continue to decline

    The latest results of a weekly applications survey covering roughly 50 percent of all residential mortgage originations showing in part that the average rate for a 30 year fixed rate mortgage went flat at 3.79% since last week.

  • Paper Economy Long-term mortgage rates hit record low levels, survey shows

    The Mortgage Bankers Association published this week the results of a survey that includes the purchase application index, which has been highlighted as particularly important for capturing the demand side of residential real estate.

  • Mortgage rates: 15-year loan gains popularity

    Mortgage rates for 15-year loan fall below 3 percent for first time. Homeowners are taking advantage of low mortgage rates to refinance, but with terms that will let them pay off their loan before retirement

  • Paper Economy Mortgage rates tumble to record lows. Again.

    The average rate for a 30-year fixed rate mortgage declined 2 basis points to 3.81 percent  since last week, the lowest value on on record for this MBA series, while the purchase application volume declined 0.6 percent, and the refinance application declined 1.5 percent over the same period.

  • Mortgage rates fall to new records

    Mortgage rates for 30-year loan now stand at 3.78 percent. Fixed mortgage rates for 15-year loans are unchanged at 3.04 percent, a record low.

  • Paper Economy Home prices increase

    In March, home prices increased 1.78 percent since February, rising 2.69 percent above the level seen in March 2011.

  • Paper Economy Mortgage rates slide to record lows

    Mortgage rates continue to drop well below 4 percent. The average rate for a 30 year fixed rate mortgage declined 2 basis points to 3.83 percent since last week, the lowest value on on record for this MBA series. The purchase application volume declined 3.0 percent and the refinance application increased 5.6 percent over the same period.

  • Fixed mortgages: new lows for 15-, 30-year loans

    Fixed mortgages for 30-year loan dips to 3.79 percent; 15-year loan averages. 3.04 percent. But record low rates on fixed mortgages have not ignited home sales.

  • The New Economy Foreclosures down, short sales up. Are banks getting smart?

    Foreclosures are down to their lowest levels in nearly five years. One reason: Lenders are increasingly using short sales, instead.

  • Paper Economy Mortgage rates inch down to 3.91 percent

    The average rate for a 30 year fixed rate mortgage declined 1 basis point to 3.91 percent since last week while the purchase application volume increased 3.4 percent and the refinance application increased 1.3 percent over the same period.

  • Mortgage rates hit new lows

    Mortgage rates for a 30-year fixed loan falls to record 3.84 percent. Mortgage rates for 15-year fixed loan now stands at a new record low: 3.07 percent.

  • Paper Economy Mortgage rates stay under four percent

    The average rate for a 30 year fixed rate mortgage  went unchanged at 3.92 percent since last week, while the purchase application volume increased 2.9 percent and the refinance application declined 0.7 percent over the same period.

  • Paper Economy 30-year mortgage rates fall to 3.92 percent

    The average rate for a 30 year fixed rate mortgage (from FHA and conforming GSE data) declined 2 basis points to 3.92 percent since last week while the purchase application volume increased 2.7 percent  and the refinance application declined 5.6 percent over the same period.

  • Paper Economy Mortgage rates fall below 4 percent. Again.

    The average rate for a 30 year fixed rate mortgage declined 4 basis points to 3.94 percent since last week while the purchase application volume declined a notable 11.2 percent and the refinance application umped 13.5 percent over the same period.

  • Mortgage rates fall: 15-year loan hits record low

    Mortgage rates for a fixed 30-year loan drop to 3.88, just shy of record. Fifteen-year fixed mortgage rates fall to record low 3.11 percent.

  • 30-year mortgage rate under 4 percent

    30-year mortgage rates fall slightly to an average 3.98 percent, near record low of 3.87 percent that 30-year mortgages hit in February.

  • Mortgage deal: Banks impeded probe, HUD says

    Mortgage deal has forced banks to pay $25 billion, mostly to current and former homeowners. But in the run-up to the mortgage deal, banks delayed handing over foreclosure documents and prevented federal investigators from interviewing employees, the Department of Housing and Urban Development says. 

  • Mortgage rates dip again. 15-year loan hits new low.

    Mortgage rates for 30-year fixed loan falls to 3.88 percent; 15-year fixed mortgage rates now average 3.13 percent.

  • 30-year mortgage rate falls to 3.9 percent

    30-year mortgage rate falls again to near-record lows. Fixed 30-year mortgage rates have stayed below 4 percent for 13 weeks in a row.

  • Top 10 cities where house prices are rising

    House prices continue to fall nationwide, but here and there they’ve begun to turn up as Americans return to the housing market. Which 10 metropolitan areas have seen the biggest increase in the past year? The winners, according to the National Association of Realtors (NAR), include a state capital, a furniture-making center, and a resort that was once America’s foreclosure capital. Can you guess who they are?  

Doing Good

 

What happens when ordinary people decide to pay it forward? Extraordinary change...

David Eads sits among old computer parts waiting to be recycled or refurbished by FreeGeek Chicago volunteers.

David Eads runs FreeGeek Chicago, 'an Apple Store for the rest of us'

FreeGeek Chicago gives volunteers hands-on training in restoring old computers to sell or recycle – while they earn credits toward taking home their own desktop or laptop free of charge.

 
 
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