Saturday, 16 November 2024

Finance & Mortgage

'U.S. home prices rose in March

Average home prices rose in March compared with February in most of the 20 cities in a Standard & Poor’s/Case Shiller survey out today – the first time in seven months there’s been a gain. This report adds to the growing evidence that the worst of the five-year housing slump appears to be over.

'Top Ten cities with the most foreclosure homes

Good news for potential and current home owners; the worst effects of the housing crisis are beginning to wind down, according to a report.

'Over 30 Pct of US homeowners with mortgages are underwater

In the face of rising home prices, over 30 percent of borrowers, or close to 16 million homeowners, were underwater on their mortgage payment during the first quarter of 2012, according to Zillow.

EDITOR'S PICKS

'S.Korea end-March household credit growth at 2-1/2-yr low

South Korea's household credit grew at the slowest annual pace in two and a half years at the end of March due to a sluggish real estate market and weak economic activity, quarterly central bank data showed on Thursday.

By Staff Reporter
'30-year mortgage rate at another record low

Mortgage rates dipped slightly lower, setting another all-time record for interest rates on the 30-year fixed-rate mortgage on Thursday, according to the latest data released Thursday by Freddie Mac.

By Staff Reporter
'China disperses $10 bln of public housing funds

China's Ministry of Finance said on Thursday it had given 66 billion yuan ($10.5 billion) to local governments to help build public housing for rent, one of five categories of state-subsidised affordable housing.

By Staff Reporter
'Supreme Court rules families cannot sue over loan discount fee

The Supreme Court ruled on Thursday that loan applicants cannot sue a mortgage company for charging them a loan discount fee without giving them a loan discount. The unanimous ruling was a defeat for three couples in Louisiana, who claimed that Quicken Loans overcharged them as much as $1,100 at their mortgage closings for a "loan discount" or "processing" fee.

By Staff Reporter
'Spanish Banks Face More Property Risk - Consultant

Spanish banks may need to set aside more money to cover exposure to a bust property market because they still have to recognise billions of euros in loans to non-viable companies, said a report by Spanish property consultancy RR de Acuna.

By Staff Reporter
'Goldman Wins Mortgage Case Appealed by German Bank

Goldman Sachs Group Inc (GS.N) and investment adviser TCW have survived an appeal by a German bank that sued them for fraud over a toxic derivative marketed at the height of the housing market bubble.

By Staff Reporter
'U.S. Mortgage Rates Rise Slightly: Freddie Mac

U.S. 30-year fixed-rate mortgages rose slightly to 3.90 percent in the week ending April 19, mortgage financier Freddie Mac said Thursday.

By Staff Reporter
'US Mortgage Refinance Applications Up, Purchase Applications Down Last Week

Mortgage applications increased 6.9 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending April 13, 2012.

By Staff Reporter
'Mortgage Rates Slip, Tie Record Lows: Bankrate

Mortgage rates moved into record low territory again this week, with the average rate on the benchmark 30-year fixed mortgage rate settling at 4.10 percent, a level last seen in February, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.42 discount and origination points.

By Staff Reporter
'Freddie Mac Sets New Timelines for Short Sales to Help Add Transparency, Expedite Decisions

In an effort to make the short sale process more transparent, Freddie Mac (OTC: FMCC) is updating its timelines and also requiring servicers to provide weekly updates when decisions take more than 30 days after the receipt of a complete application for a short sale under the Obama Administration's Home Affordable Foreclosure Alternative (HAFA) initiative or Freddie Mac's traditional requirements. All decisions must be made within 60-day

By Staff Reporter
'UK Housebuilder Persimmon Upbeat as Enquiries Rise

British housebuilder Persimmon said it had made a good start to 2012 with both visitor levels and orders up on last year, boosted in part by a new government mortgage scheme.

By Staff Reporter
'Global Regulators Map Out Safer Home Loans

Regulators published global guidance on Wednesday to make granting home loans more rigorous, five years after weak lending standards in the U.S. mortgage market spiralled into the worst financial crisis in decades.

By Staff Reporter