Construction of multifamily units will lead the U.S. building industry again this year, allowing housing to contribute to growth for the first time in seven years, according to economists Michelle Meyer and Celia Chen.

Bank of America Corp., JPMorgan Chase & Co. and three other U.S. banks reached a $25 billion settlement with 49 states and the U.S. government to end a probe of abusive foreclosure practices stemming from the collapse of the housing bubble.

The U.S. Justice Department, Department of Housing and Urban Development and state attorneys general today …

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The average rate on the 30-year fixed mortgage dropped to the lowest since records have been kept, creating a tempting target for people to refinance their homes.

 - Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit. The analytics firm notes the average credit score required to attain a mortgage loan will be reduced…

Ally said to be Shopping Mortgage Unit

One of the financial institutions that are party to the reported settlement agreement with the attorneys general of the majority of the states is reportedly on the auction block. According to Bloomberg News, Ally Financial is talking with private equity firms about selling its mortgage unit, Residential Capital LCC …

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Private equity firms are jumping into distressed housing as the U.S. government plans to market 200,000 foreclosed homes as rentals to speed up the economic recovery.

It’s happened before and it happened again today: Mortgages Rates hit new all time lows today. Please note, that the actual interest rate you would have been quoted last week and this week may not have changed, but based on raw data from more than 20 leading lenders as well as feedback from the MBS …

Continue reading Record Low Rates Are Here Once Again !!!

Rates for U.S. 30-year mortgages climbed from the lowest level on record after Federal Reserve officials pledged to keep their benchmark interest rate near zero through at least late 2014 to help bolster the economy.

The average rate for a 30-year fixed loan rose to 3.98 percent in the week ended today from 3.88 percent, the …

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Acting Federal Housing Finance Agency (FHFA) Director Edward J. DeMarco responded Friday to a request from 16 House Democrats to explain the statutory authority that DeMarco has claimed prohibits FHFA from offering principal reduction as part of loan modifications on loans it owns or guarantees.

After setting new records on Friday, Mortgage Rates are absolutely flat to start the week. That means that Best-Execution remains most appropriately at 3.875% although 3.75% continues to be as close as it’s ever been to getting equal recognition. Depending on the scenario in question, lower rates are available and in most cases, could make sense.