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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

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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

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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

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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

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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

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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. Read More

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