Underwater Mortgage Reductions Likely

By Mike Colpitts Federal officials are reviewing the possibility of starting mortgage principal reductions for underwater homeowners, according to the chief executive officer of Freddie Mac. The review was triggered by a U.S. Treasury Department offer that would triple payments to mortgage investors who allow the reductions through the Home Affordable Modification Program (HAMP). A… Continue reading Underwater Mortgage Reductions Likely

Mortgage Modifications Drop Off

By Mike Colpitts Mortgage modifications experienced a 20% drop off in February in the private sector as lenders picked up the pace of foreclosures following the government’s $25 billion agreement with the nation’s biggest banks. The drop off in permanent mortgage modification tabulated by Hope Now, a private non-profit organization leading the effort to gain… Continue reading Mortgage Modifications Drop Off

Mortgage Activity Climbs on Lower Rates

By Mike Colpitts Driven by a drop in mortgage rates, home loan activity rose for the first time in five weeks for the week ending March 30th, according to the Mortgage Bankers Association. The purchase index led the market higher in applications for home loans. The bankers seasonally adjusted purchase index jumped 7.2% for the… Continue reading Mortgage Activity Climbs on Lower Rates

Survey Says Freddie and Fannie Should Stop Buying Mortgages

A large majority of consumers surveyed say they want U.S. mortgage giants Freddie Mac and Fannie Mae to stop buying home mortgages. The opinion poll found that 72% of all respondents want the companies, which act as a back-stop for the nation’s mortgage market to stop purchasing home loans from banks and other mortgage lenders.… Continue reading Survey Says Freddie and Fannie Should Stop Buying Mortgages

Mortgage Rates Forecast Higher

By Ryan Jackson The improving U.S. economy is forecast to push mortgage rates higher, driving the cost of home loans much higher before the end of 2012, according to a consensus of economists. The analysis was part of the Urban Land Institute’s survey released for 2012 through 2014. Economists expect inflation as measured by the… Continue reading Mortgage Rates Forecast Higher

NAR President Says Home Prices Going Up

By Mike Colpitts The new president of the National Association of Realtors says that home prices have gotten so low there’s only one way for them to go – up. “People realize that homeownership is an investment in their future. Given an apparent over correction in most areas, over the long term home prices have… Continue reading NAR President Says Home Prices Going Up

Economists Forecast Sharp Real Estate Rebound

By Mike Colpitts A group of leading U.S. economists forecast broad improvements in the nation’s economy, real estate capital markets and the housing market through 2014. The projection was issued after the Urban Land Institute surveyed economists for its new real estate consensus forecast. The survey of 38 economists across the country, found that 2012… Continue reading Economists Forecast Sharp Real Estate Rebound

Mortgage Rates Jump on Higher Treasuries

By Mike Colpitts Higher bond yields paid on U.S. Treasuries pushed mortgage rates higher for the week along with reports on increased hiring by employers. The fixed 30-year mortgage saw a jump to 3.92%, a four basis point nudge up over last week, according to Freddie Mac. Rates on shorter term fixed mortgages and adjustable… Continue reading Mortgage Rates Jump on Higher Treasuries