The Mortgage Bankers Association said they tumbled 10.5% last week, the biggest fall-off in four months. While the foreclosure crisis may be playing a role in the decline, rising interest rates are also partly to blame.
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An Obama Administration housing official said mortgage lenders such as Bank of America Corp. and JPMorgan Chase & Co. could legally resume foreclosures on homes, while a New York judge is forcing lawyers handling foreclosures t…
Attorneys will have to certify under penalty of perjury that they have personally reviewed all the key documents and that they have spoken directly with their clients, the foreclosing financial institutions. That will disrupt t…
The average 30-year fixed-rate mortgage fell to a bargain-basement 4.27% for the week ending Oct. 7, a new record low, Freddie Mac announced Thursday. That’s down from the 4.32% rate last week, and way below the 4.87% rate that…
One month doesn’t make a trend, but builders in the beleaguered U.S. construction sector will take any good news they can get, and in August they received some: an unexpected 0.4% increase in construction spending, led by government-funded projects.
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