Mortgage rates climb for another week
Rates on 30-year mortgages increased last week for the fourth time in the last five weeks. Freddie Mac, the mortgage company, says 30-year fixed-rate mortgages averaged 6.13 percent, up from 6.03 percent a week earlier. Read More
Bush offers plan to prevent new mortgage debacles
After months of watching a growing credit crisis made worse by steadily eroding home prices, the Bush administration responded Thursday with the outlines of a plan that officials emphasized is meant more to prevent future crises than to address the current one. Read More
More in foreclosure choose to walk away
Foreclosure used to be a last resort, something that hard-pressed homeowners would scrimp and plead to avoid. But as the subprime lending crisis sweeps up millions of borrowers nationwide, some are deliberately choosing foreclosure as an early option. Read More
Low mortgage rates make refinancing attractive
The past few months have been lonely ones for mortgage lenders, but business is picking up. The phones are ringing, and banks don't have to give away doughnuts to attract customers. They've got something much more enticing to offer: rock-bottom mortgage rates. Read More
Housing prices to free fall in 2008
According to a Merrill Lynch report, home prices will drop 15 percent this year, and declines will continue in 2009. The worst housing financial crisis in decades is only going to get worse, a Merrill Lynch report said Wednesday. Read More
Bank of America Joins Parade of Mortgage-Related Losses
The upheaval in the mortgage market, a slowing economy and an increasingly stretched consumer have made the last few quarters among the toughest since Kenneth D. Lewis, the chairman and chief executive of Bank of America, took over in 2001.
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