Last week, the Federal Reserve announced that it would buy $500 billion in mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae. Mortgage rates immediately dropped, and that led to a surge in mortgage refinancing activity ...
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Despite the doom and gloom in the economy, there's actually a glimmer of hope shining through for homeowners looking to refinance. The average interest rate on a 30-year fixed mortgage dropped below 6% for the first time in almost a year. Appearing ...
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Valley residents waiting for the right time to buy a home or refinance their mortgage received a nice holiday gift from the federal government this week. The Federal Reserve's announcement Tuesday that it would spend $600 billion to buy up mortgage ...
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There is a strong consensus for policy actions to prevent home foreclosures which is a change in focus from liquidity and solvency of financial institutions – the main thrust of policy actions in the past sixteen months. Chairman Bernanke ...
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Ben Bernanke, the US Federal Reserve chairman, urged policymakers on Thursday to boost efforts to stem home foreclosures. “Despite good-faith efforts by both the private and public sectors, the foreclosure rate remains too high, with adverse ...
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The Treasury Department is considering a plan to push down 30-year fixed-rate rates for home purchases to as low as 4.5%, in the hopes that it will stimulate sales, stop the freefall of prices, and allow homeowners to afford bigger loans. But the ...
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The Federal Reserve's attempt to stabilize the housing market set off a chain reaction across the U.S. on Tuesday, dropping interest rates and quickly spurring a burst of refinancing activity by borrowers eager to lower their mortgage costs. Some ...
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