Higher Mortgage Default Rates in September


The first mortgage default rate was 0.93% in September 2014, according to the latest S&P/Experian Consumer Credit Default Indices. It rose by 2 basis points from August when it was 0.91%. Despite its increase for a second month in a

Another Jump in Mortgage Applications


Mortgage applications rose by 11.6% on a seasonally adjusted basis in the week ending October 17th compared to the previous week. On an unadjusted basis, the increase was 12%. This was revealed by the Weekly Mortgage Applications Survey which is

Mortgage Rates Go Further Down

mortgage applications

The average mortgage rates are hitting new low levels for 2014. This is revealed by the data in the Primary Mortgage Market Survey which is produced by Freddie Mac. The average interest rate on a 30-year fixed-rate mortgage reached 3.92%

Fannie Mae Plans to Purchase Mortgages with 3% Down Payment


The CEO of Fannie Mae, Timothy Mayopoulos, said that the company is working in close cooperation with the Federal Housing Finance Agency to offer mortgages with loan-to-value ratio of 97% to the lenders that use its services. He made this

More Mortgage Borrowers Filing for Foreclosure in the Third Quarter

mortgage applications

The foreclosure filings on properties in the United States reached 317,171 in the third quarter of 2014, according to the quarterly Foreclosure Market Report of RealtyTrac. The filings made by mortgage borrowers include default notices, scheduled auctions and bank repossessions.

FHFA Director Announces Changes for Improving Access to Mortgage Loans


In his speech at the Mortgage Bankers Association Convention & Expo, the director of the Federal Housing Finance Agency, Mel Watt, presented the measures which FHFA, Freddie Mac and Fannie Mae plan to adopt in order to improve mortgage credit

Mortgage Rates Hit New Yearly Lows

home mortgage

The downward trend in mortgage rates continues according to the Primary Mortgage Survey of Freddie Mac for the week ending October 16th. The average interest rate on a 30-year fixed-rate mortgage reached 3.97%. It declined from 4.12% during the previous

Mortgage Lenders Reporting Higher Compliance Spending

jumbo loans

Mortgage lenders reported a median increase of 29% in their regulatory compliance spending. This is revealed by the Mortgage Lender Sentiment Survey for the third quarter of 2014 conducted by Fannie Mae in August of this year. The survey was

Lower Interest Rates Boost Mortgage Applications

mortgage applications

Mortgage applications in the United States rose by 5.6% in the week ended October 10th from the previous week while the average interest rate for a 30-year fixed mortgage dropped to its lowest level since June 2013. This is revealed

Wells Fargo with Increase in Mortgage Originations in the Third Quarter


The largest mortgage lender in the United States, Wells Fargo, reported an increase of $1 billion in its mortgage originations in the third quarter of 2014 compared to the second quarter. In the third quarter, mortgage originations were $48 billion

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