Nearly one-half of homeowners who refinanced their mortgages late last year did so by paying down part of their mortgage balance at the same time.
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Half of Mortgage Refis are Cash-In
U.S. home prices edged downward in November, dropping 1.7 percent from October’s level, according to the latest Standard & Poor’s/Case-Shiller Home Price Indices, released today.
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Bad Sign for Home Prices?
Mortgage rates headed upward this week, ending a three-week stretch of all-time lows for 30-year fixed-rate loans.
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Mortgage Rates Show Modest Rise
A program to help homeowners save $3,000 a year by clearing away obstacles to refinancing was proposed by President Obama in last night’s State of the Union address. What isn’t clear is how that plan might work.
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Details Hazy on Obama Refi Plan
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
The housing market will begin to rebound in 2012, as part of a broader economic recovery, the financial and business analytics firm CoreLogic is predicting.
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Modest Housing Rebound Seen in 2012
Regulations intended to promote accurate real estate appraisals sometimes result in poorly qualified appraisers being assigned to determine property values for mortgage lenders, the nation’s largest professional organization for real estate appraisers has acknowledged.
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Unskilled Appraisers Seen as Problem
BOK Financial Corp. has plans to expand its correspondent lending business.
The bank-holding company’s vice president of correspondent and private-label lending said in a statement that the company is widening its correspondent channel.
“Access, convenience and ease of use are key requirements for our lending partners to do business with us,” the BOK
Mortgage rates are starting out the New Year at or near their all-time lows, trending down slightly from the week before, according to rate survey figures released today by Freddie Mac.
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Mortgage Rates Down to Start Year
Home prices will likely continue to fall through next year, before finally beginning a weak recovery in 2013 or late 2012, according to the views of over 100 economic and real estate experts.
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Weak Housing Recovery Seen in 2013