Mortgage and Financial News From 2009-4-3 Page 01
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Fed plans to use all its tools to strengthen the economy - Los Angeles Times
WASHINGTON -- The Federal Reserve will continue to act creatively and use all the tools at its disposal to try to strengthen the economy, the top two officials of the central bank said Friday. Just hours after the Labor Department reported that the ...
2009-04-03 07:26:00 -
UPDATE 1-Fannie Mae's mortgage refi volume surges in March - Reuters
NEW YORK, April 3 (Reuters) - Fannie Mae ( FNM.N ) ( FNM.P ), the largest source of U.S. residential funding, said on Friday its mortgage refinancing volume in March nearly doubled from the prior month to $77 billion. March was the highest monthly ...
2009-04-03 12:31:00 -
Mortgage rates at record low for second week - ABC 4
WASHINGTON (AP) - Rates on 30-year mortgages have fallen for the second consecutive week and remain at the lowest level on record. Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dropped to 4.78 ...
2009-04-03 05:43:00 -
Mortgage rates hit new low - Miami Herald
Rates on 30-year mortgages fell to the lowest level on record for the second consecutive week after the Federal Reserve launched a new effort to assist the U.S. housing market. Freddie Mac said average rates on 30-year fixed-rate mortgages dropped to ...
2009-04-03 06:11:00 -
Record Low Mortgage Rates Creating Jobs - WBZ-TV
Mortgage rates are at record lows and home owners and home buyers are taking advantage of it. The average 30-year fixed rate is 4.61 percent, according to the Mortgage Bankers Association . "Just out of control," said Leif Thomsen of Mortgage ...
2009-04-03 12:52:00 -
Canadian banks lowering mortgage rates - Globe and Mail
Home loans coming down up to half of a percentage point; five-year closed rate now at 5.45 per cent ... Read the full article Please let us know if this reader’s comment breaks the editor's rules and is obscene, abusive, threatening, unlawful ...
2009-04-03 05:46:00 -
Jeremy Warner: This housing correction has a way to go yet - Independent
Jeremy Warner: This housing correction has a way to go yetIndependent, UKThe housing correction started much earlier in the US than here, but still, and despite zero interest rates, there is no sign of the crash coming to an end. The cost of a mortgage is much lower than it was back in the early 1990s, but the size of ...
2009-04-03 07:51:36 -
Report: Loan Modifications To Date Haven't Been That Effective - The Consumerist
Report: Loan Modifications To Date Haven't Been That EffectiveThe Consumerist, NYIn cases where the modified loan resulted in a less than 10% reduction or where the payment amount increased, default rates are at nearly 50%. The "good" news is that lenders seem to have done a little better at actually reducing loan amounts for ...
2009-04-03 07:55:30 -
Are cheap rates, lower prices, tax refunds enough to spike home sales? - WVLT
Are cheap rates, lower prices, tax refunds enough to spike home sales?WVLT, TN(WVLT) -- A year's worth of mortgage payments on a "fixer-upper" in West Knox County, will cost Dawn Levy less than what her friends back in San Francisco, will have to shell out, in property taxes. "Buying here, and now, was a no-brainer," she says. ...
2009-04-03 06:08:32 -
Sure, mortgage rates in Cincinnati have hit crazy lows – but most ... - Cincinnati Business Courier
Sure, mortgage rates in Cincinnati have hit crazy lows – but most ...Cincinnati Business Courier, United StatesDavid Viox of Blue Ash-based Van Dyk Mortgage said a credit score of 680 used to qualify an applicant for the best loan terms. Now it must be 740. Thirty-year fixed mortgage interest rates recently have tumbled to historic lows, but loan applicants are ...
2009-04-03 07:17:23 -
The estates we’re in - Financial Times
The estates we’re inFinancial Times, UKOwners struggling with mortgage payments may have benefited from falling interest rates and those cases that might end in bankruptcies generally take three months to translate into property sales. Meanwhile, “discretionary sellers have been reluctant ...
2009-04-03 08:25:55 -
NBR Transcripts-April 3, 2009 - Nightly Business Report
NBR Transcripts-April 3, 2009Nightly Business Report, FLAs you know, the unemployment rate nationally is 8 1/2 percent, but here in California it's even worse at 10.5 percent. And again you get away from the coast, the unemployment rates are even higher than that. PRATT: So what is your outlook for ...
2009-04-03 09:29:01 -
RBC Royal Bank decreases residential mortgage rates - FOXBusiness
RBC Royal Bank decreases residential mortgage ratesFOXBusinessTORONTO, Apr 3, 2009 (Canada NewsWire via COMTEX) ----RBC Royal Bank announced today that it is reducing its residential mortgage rates effective April 4, 2009. << The changes are as follows: Six-month open 6.85 per cent (down by 0.15 per cent) ...
2009-04-03 10:08:15 -
Pelosi outlines her priorities - San Francisco Chronicle
Pelosi outlines her prioritiesSan Francisco Chronicle, USASuch a system, depending on how it is structured, would raise electricity rates and bring in hundreds of billions of dollars to the government. While the idea has support from pro-environment Democrats, especially in California and in the West where ...
2009-04-03 10:10:54 -
US Real Estate Ownership and Investing Dangerous Myths - The Market Oracle
US Real Estate Ownership and Investing Dangerous MythsThe Market Oracle, UKI expect the unwinding of this housing bubble will take longer, due to the severity of the economic crisis and the record number of foreclosures predicted by the adjustable rate mortgage data. Even over a thirty year period, Fidelity researchers found ...
2009-04-03 10:14:21