|
|||||||
|
|
|
|||||
|
|
|||||||
|
|||||||
|
|
|
|||||
|
|
|||||||
Mortgage news |
Mortgage rates up for first time in 7 weeks Mortgage rates turned slightly higher from mixed economic signals after reaching near their lowest level of the year last week and rallying from a decline for six weeks in a row, a survey said Thursday. U.S mortgage delinquencies, foreclosures mount: MBA NEW YORK (Reuters) - Late payments and new foreclosures on U.S. homes rose in the third quarter and are likely to grow as a massive wave of adjustable-rate mortgages reset at higher interest rates, the Mortgage Bankers Association said on Wednesday. Late Mortgage Payments Jump in Summer WASHINGTON -- Late mortgage payments shot up in the third quarter as higher interest rates squeezed budgets and made it harder for homeowners _ especially those with weaker credit records _ to keep up with their monthly obligations. National City Mortgage Loans Drop in Nov. National City Corp., a Cleveland commercial bank and mortgage lender, said it continued to see strength in its commercial lending business and weakness in the residential market as it provided an update of business so far in the fourth quarter. New tax deduction for mortgage insurance Just before convening, Congress slipped in a provision making mortgage insurance tax deductible on mortgages taken out in 2007. WaMu CEO: Mortgage biz looks tough in 2007 Banking chief says he expects another bleak year in mortgage industry, citing overcapacity, low margins. To Gauge Subprime Mortgage Fallout, Bond Market Eyes CDOs NEW YORK -(Dow Jones)- With mortgage borrowers who have less than perfect credit and the banks that lend to them under pressure, investors are watching closely to see if the effects will be felt in the far away world of collateralized debt obligations, or CDOs. HBOS 2006 Profit to Rise More Than 11% on Mortgage-Loan Gains Dec. 14 (Bloomberg) -- HBOS Plc, Britains biggest mortgage lender, said 2006 profit will probably rise more than 11 percent as it helped finance the countrys surging real-estate market. Avoid Mortgage Traps If youre in the market for a mortgage, youd do well to arm yourself with some knowledge before you go knocking on lenders doors. Ill soon point you to where you can learn a lot in short order, but first, here are a few mortgage traps to be wary of, some courtesy of mortgagetrap.org: The Risks Of An Interest Only Mortgage A significant minority of interest-only borrowers may be heading for trouble when it comes to paying off their mortgage. Are you one of them? |