Demand for mortgage refinancing eased slightly last week, after the Federal Reserve indicated it would seek to keep interest rates low for the next three years.
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HARP Refis 10 Percent of Total
Writing down the principal on underwater mortgages, a move advocated as a way to stabilize the housing market, would cost Fannie Mae and Freddie Mac nearly $100 billion, according to an analysis by the Federal Housing Finance Agency (FHFA).
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FHFA: Writedowns Would Cost $100B
Mortgage rates fell again this week, hitting new record lows across the board, according to new figures released today by Freddie Mac.
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Mortgage Rates Hit New All-Time Lows
Unemployed homeowners can now be excused from making mortgage payments for up to a full year on Freddie Mac-supported home loans, the lender has announced.
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Freddie Mac Gives Jobless a Break
Mortgage demand fell over the two-week holiday period, even when accounting for the usual slowdown brought on by the holiday season.
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A handful of lucky homeowners have been able to reduce their mortgage debt by nearly one-third under a little-noticed provision of the government’s Home Affordable Modification Program (HAMP).
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Lucky Few Get Big HAMP Writedowns
Mortgage refinancing under the government’s Home Affordable Refinance Program (HARP) rose sharply in September, increasing 20 percent to 35,000 loans, the highest level in six months.
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HARP Mortgage Refinances Pick Up
Two new initiatives to help guard consumers against mortgage-related abuses were launched this week by the recently established Consumer Financial Protection Bureau (CFPB).
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Consumer Bureau Turns to Mortgages
The share of mortgages that are underwater continued to shrink in the third quarter of the year, according to figures released today by the data and analytics firm CoreLogic.
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Underwater Mortgages Slowly Declining
Mortgage credit remains as tight as ever, but consumers seem to view their mortgage lenders more favorably than they did one year ago.
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Satisfaction with Lenders Increases