By Kathleen Howley Mortgage credit in August was the tightest in more than six years as a weak economy prompted lenders to tighten standards, the Mortgage Bankers Association said in a report on Thursday. The group’s Mortgage Credit Availability Index fell 4.7% to 120.9 last month, the lowest since March 2014, indicating stricter requirements to get loans. [...]
By Carissa Abazia Here is more information you can share with your clients, colleagues, friends and family who are asking about 0-3% interest rates. Again, mortgage rates are not affected by Sunday's fed rate cuts. Here is the first problem we must deal with: The media gets their information about rates from what Fannie Mae [...]
By Carissa Abazia The Federal Fund Rate is the overnight borrowing rate that banks get when they borrow money from the federal reserve. This rate was 0.75% last week and now it is 0.00% to 0.25%. There are a lot of questions out there about the interest drop the Federal Reserve just completed. The Federal [...]
By Carissa Abazia The Fed Reserve cut its benchmark interest rate to zero on Sunday, the second such emergency rate cut this year in response to the coronavirus. We wish mortgage rates would be 0%! However mortgage rates don’t follow the Fed Rates. Although the Fed funds rate is indirectly tied to mortgage rates, it’s [...]
WASHINGTON (AP) — Trump administration officials on Tuesday defended their plan to Congress for ending government control of mortgage finance giants Fannie Mae and Freddie Mac, clashing with Democratic senators on whether the change would raise home borrowing costs and neglect lower-income homeowners. The two finance companies nearly collapsed in the financial crisis 11 years [...]
By Nellie Bowles Ms. Bowles is a technology reporter for The New York Times. Screens used to be for the elite. Now avoiding them is a status symbol. SAN FRANCISCO — Bill Langlois has a new best friend. She is a cat named Sox. She lives on a tablet, and she makes him so happy [...]
