Mortgages and Banking

Mortgages and Banking

• Report: Bakersfield fifth worst residential real estate market in country

  Mar. 17--The Bakersfield area was the fifth worst residential real estate market in the nation in January based on mortgage delinquency rates, foreclosures and other signs of a deeply troubled housing market.

   

• Growing popularity for home loans offered by New York State Mortgage Agency

  Mar. 17--ALBANY -- The popularity of home loans offered by the New York State Mortgage Agency is growing, a rise likely tied to the credit crunch and the federal tax credit for first-time buyers.

   

• Fed holds rates at record lows to foster recovery

  WASHINGTON - The Federal Reserve on Tuesday repeated its pledge to hold interest rates at record lows to foster the economic recovery and ease high unemployment.

   

• Interest rates fall after Fed stands pat

  CHARLOTTE, N.C. - Interest rates fell in the bond market Tuesday after the Federal Reserve said it is still likely to keep a key lending rate at historic lows for an "extended period."

   

• Fed weighs how and when to signal higher rates

  WASHINGTON - Debate is heating up within the Federal Reserve over how and when to signal that the days of record-low interest rates are numbered.

   

• More Santa Clara County homeowners get notices of default

  Mar. 16--The number of foreclosed homes scheduled for auction in Santa Clara and San Mateo counties remained flat in February after months of increases, according to a report released Monday.

   

• First-time homebuyers rush to beat tax credit deadline and rising interest rates

  Mar. 15--Zachary and Elva Clevenger house-shopped for two years before deciding that now was the time to buy.

   

• Businesses, tenants worried about impact of commercial loan losses on Georgia banks

  Mar. 14--Que Nice has been cutting hair in his barbershop across Peachtree Street from the Fulton County Government Center for 13 years.

   

• Fed may hint at how long rates will stay at lows

  WASHINGTON - Federal Reserve policymakers may signal at their meeting this week how and when the improving economy will lead them to start raising record-low interest rates.

   

• Commercial real estate loans worry some in bank industry

  Mar. 14--While regulators say the banking industry shows signs of improvement, some analysts worry that lenders face another big hurdle: defaults on loans for commercial real estate such as retail shopping centers, office buildings, hotels and warehouses.

   

• Underwater homeowners leave behind mortgages, but lenders can still come calling

  Mar. 14--There's a rumbling in Las Vegas and it's growing louder every day.

   

• McAllen's real estate market still sluggish

  Mar. 11--MCALLEN -- Buying a house in the Rio Grande Valley will be much harder by this summer -- and it's not easy now.

   

• Mortgage rates remain below 5 percent

  WASHINGTON - Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday, weeks before a government program that has been keeping rates low is scheduled to expire.

   

• Gov't official warns on home down payment hikes

  WASHINGTON - The head of the Federal Housing Administration is warning that boosting the minimum down payment borrowers must provide to qualify for home loans backed by the agency could threaten the housing market.

   

• Foreclosure rates up by smallest amount in 4 years

  RealtyTrac Inc. said Thursday that the number of U.S. households facing foreclosure in February grew 6 percent from a year ago, the smallest annual increase in four years.

   

• Treasury restates support for Fannie, Freddie

  WASHINGTON - The Treasury Department was forced Friday to reiterate its financial support for Fannie Mae and Freddie Mac after a key lawmaker rattled investors by pointing out that their debt does not enjoy the explicit guarantee of the federal government.

   

• Lawmaker is working to improve loan modifications

  WASHINGTON - A key lawmaker is working with banks, regulators and the Obama administration on a new way to boost the government's struggling foreclosure prevention effort by encouraging banks to reduce the total amount borrowers owe.

   

• Foreclosure-assistance pipeline clogged for Bank of America, other lenders

  Mar. 5--os-troublesome-banks-20100304

   

• Mortgage rates fall below 5 percent

  McLEAN, Va. - Mortgages rates have dipped below 5 percent again, four weeks before a government program that is helping keep rates low is scheduled to run out.

   

• Brave new world for builders: Banks have become competitors in the new economy

  Mar. 3--Eastern Wake County builders face a new competitor on the markets -- the banks.