The increasing debt crisis in Europe may take a while to be resolved, prompting both the World Bank and the International Monetary Fund to downgrade their expectations this year, with the latter readying to raise some $600 billion to combat threats of global recession. Back in the US, the looming global crunch kept the fixed [...]
Mortgage rates were generally higher today, as the national average on the 30-year FRM increased to 4.06%, compared to the 3.94% rate it held yesterday. On the other hand, the 15-year fixed rate mortgage is up today too, averaging a 3.34% rate compared to yesterday’s 3.26%. Looking at some of the major lenders’ home loan [...]
Mortgage rates were holding steady throughout last week and remained near all-time record lows, according to Freddie Mac. This is good news for those potential borrowers who are thinking about refinancing their existing loans or purchasing a new or used home. Coming to the new week, Bank of America (NYSE:BAC) kicked off Monday with some [...]
Housing loan applications registered considerable climbs last week, the Mortgage Bankers Association (MBA) reported. Figures furnished by Freddie Mac had indicated that lower mortgage rates may have fueled the rush as of Jan. 13, but most of the applications received were meant to refinance existing loans, reaching more than 82%. Compared to the numbers recorded [...]
Although, mortgage interest rates were mixed today across various US lenders, they are still hovering near all-time lows coming to midweek. Namely Bank of America (NYSE:BAC) is one of the major lenders today which raised its rates today. The 30-year FRM package for home purchase is available today at a rate of 4.125% and an [...]
According to a report from financial institution Citigroup (NYSE:C), profits were up 6% in 2011 compared to the previous year, and resulted in $11.3 billion. Vikram Pandit, CEO of Citigroup, seemed guardedly optimistic about the bank’s 2011 numbers. He cited “solid progress” made in the recently concluded year and added that their consumer business strategies [...]
Wells Fargo & Co. has achieved record earnings in the last quarter of 2011, pushing further the lender’s year-on-year profit by 28 percent as compared to the previous year’s gains. For the past three months ending in December, Wells Fargo reported that it realized net income of $4.11 billion or $0.73 per share, an improvement [...]
Fixed mortgage rates continue to plummet this week amidst the uncertainty created by the wholesale credit downgrades by S&P that hit key European nations. Qualified borrowers can gain access on home loans facilitated by the Federal Housing Authority, which property experts said have so far reached their most attractive levels since the global financial crisis [...]
In general refinance mortgage rates at Wells Fargo (NYSE:WFC) remained firm coming to Tuesday, as the bank continues to attract potential borrowers with its exceptionally low loan packages. In case of the best conforming loans at Wells Fargo, borrowers can obtain the 30-year FRM refinance deal today for as low as 3.875% and an APR [...]
The Council for Mortgage Lenders (CML) recently announced that mortgage lending was on the upswing in November 2011, increasing by 3% on a year-on-year basis. This was just the second time it happened in 2011, as second mortgages also enjoyed a mild uptick, moving up from 30,700 in November 2010 to 31,200 in November 2011. [...]