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About Mortgage Rates

Probably one of the reasons that buying a home is such an emotional experience is because of the fact that not only do you have the actual house buying to deal with, but for most home buyers you also have the mortgage process to encounter. This can be a smooth and almost uneventful process, or an unnerving one. A great deal depends on the preparation of the buyer as well as the selection of an efficient mortgage company.
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Articles about Mortgage

Mortgage rates jump sharply

WASHINGTON Rates on 30-year mortgages spiked this week as the tumult in financial markets continued to be felt in housing finance. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.46% this week, up from 6.04% last week. The sharp increase pushed 30-year rates to the highest level since the week of Oct. 16. Rates on 30-year mortgages hit a high for the year of 6.63% in late July and then dropped to a seven-month low of 5.78% the week of Sept. 18. Analysts attributed the increase to the impact the financial crisis is having on bond markets. The upheavals on Wall Street last month drove investors to the safety of Treasury securities. Now that the panic is easing a bit, investors are moving out of Treasury bonds into other investments. That movement means less demand for Treasury securities, pushing their yields higher. That increase drives...Read On

Think first

WASHINGTON Rates on 30-year mortgages spiked this week as the tumult in financial markets continued to be felt in housing finance. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.46% this week, up from 6.04% last week. The sharp increase pushed 30-year rates to the highest level since the week of Oct. 16. Rates on 30-year mortgages hit a high for the year of 6.63% in late July and then dropped to a seven-month low of 5.78% the week of Sept. 18. Analysts attributed the increase to the impact the financial crisis is having on bond markets. The upheavals on Wall Street last month drove investors to the safety of Treasury securities. Now that the panic is easing a bit, investors are moving out of Treasury bonds into other investments. That movement means less demand for Treasury securities, pushing their yields higher. That increase drives...Read On

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Featured Mortgage Lender

Howard Financial
Type: Rate:
30yr fixed 4.4%
15yr fixed 4.0%
30yr jumbo 5.0%

Mortgage Rates News

Credit Agencies Sued Over Bankrupt Account Reporting
A lawsuit was filed Virginia on behalf of 47 Virginia plaintiffs who said their credit reports contain inaccurate information.

All of the plaintiffs have filed for bankruptcy.

But their credit reports contain records of debt that still appear active even though it has been discharged....
Over 1,000 Layoffs as Servicer Offices Close
The acquisition of HomeEq Servicing by Ocwen Financial Services has completed.

Ocwen said that it plans to close a facility in Raleigh, N.C., and eliminate 242 jobs.

Around 900 California employees are being laid off later this year as the company's facility in that state closes.<...
Bank Performance Improves
On overall bank loan assets, delinquency of at least 90 days fell 4.8 percent, according to the Quarterly Banking Profile from the Federal Deposit Insurance Corp.

It was the first quarterly decline since the beginning of 2006.

Quarterly earnings for the sector were $21.6 billion.

Banks lost $4.4 billion in the same period last year....
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