Showing posts with label housing tax credit. Show all posts
Showing posts with label housing tax credit. Show all posts
Wednesday, November 24, 2010
Friday, November 19, 2010
Friday, May 7, 2010
Wednesday, April 21, 2010
Mortgage Rates Fall But Stay Above 5%
McLEAN, Va. – Rates for long-term mortgages dropped this week but still remained above 5 percent, mortgage financier Freddie Mac said Thursday.
The average rate on a 30-year fixed-rate mortgage was 5.07 percent this week, down from 5.21 percent a week earlier, a survey by Freddie Mac said. Last week's average rate for a 30-year fixed mortgage had been the highest since mid-August, when it was 5.29 percent.
Rates had dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers. The program ended at the end of March, but the Fed left the door open to reviving the program if the economy weakens.
"After rising for four consecutive weeks, mortgage rates eased back to where they were two weeks ago and still remain historically low," said Frank Nothaft, Freddie Mac's chief economist.
This week, the average rate on a 15-year fixed-rate mortgage was 4.4 percent, down from 4.52 percent last week.
Rates on five-year, adjustable-rate mortgages averaged 4.08 percent, down from 4.25 percent a week earlier. Rates on one-year, adjustable-rate mortgages dipped to 4.13 percent from 4.14 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.
The Associated Press
The average rate on a 30-year fixed-rate mortgage was 5.07 percent this week, down from 5.21 percent a week earlier, a survey by Freddie Mac said. Last week's average rate for a 30-year fixed mortgage had been the highest since mid-August, when it was 5.29 percent.
Rates had dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers. The program ended at the end of March, but the Fed left the door open to reviving the program if the economy weakens.
"After rising for four consecutive weeks, mortgage rates eased back to where they were two weeks ago and still remain historically low," said Frank Nothaft, Freddie Mac's chief economist.
This week, the average rate on a 15-year fixed-rate mortgage was 4.4 percent, down from 4.52 percent last week.
Rates on five-year, adjustable-rate mortgages averaged 4.08 percent, down from 4.25 percent a week earlier. Rates on one-year, adjustable-rate mortgages dipped to 4.13 percent from 4.14 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.
The Associated Press
Thursday, April 15, 2010
Monday, December 7, 2009
Wednesday, December 2, 2009
Friday, November 6, 2009
Monday, August 24, 2009
Late mortgage payments, foreclosures rise in Texas
Late mortgage payments, foreclosures rise in Texas
12:00 AM CDT on Friday, August 21, 2009
Texans continued to fall behind on their mortgage payments in the second quarter, and more than one in 10 Texas mortgages are late or in foreclosure.
At the end of June, 8.79 percent of residential mortgages in the state had delinquent payments and 1.84 percent went into foreclosure, the Mortgage Bankers Association reported Thursday.
Both figures rose compared with the first quarter.
Nationwide, a record 9.24 percent of residential loans were delinquent in the quarter. The closely watched measure includes all mortgages that are at least one payment behind. Texas ranks 17th nationally among states when ranked by the percentage of late mortgage payments.
The national average foreclosure rate in the second quarter was 3 percent.
Just four states – California, Florida, Arizona and Nevada – accounted for 44 percent of the nation's new home foreclosures during the second quarter, the Washington, D.C.-based trade group said.
"Florida continues to establish itself as the worst state in the union for mortgage performance, closely followed only by Nevada," said Jay Brinkmann, MBA's chief economist.
In Florida, 22.8 percent of mortgages were delinquent or in foreclosure, and in Nevada 21.3 percent of home loans have past-due payments or are in foreclosure.
In Texas, most of the loans facing foreclosure are subprime mortgages. In the second quarter, 28.49 percent of subprime adjustable-rate loans in the state were past due. That compares with an 8.18 percent delinquency rate for prime mortgages statewide.
About 30 percent of Texas mortgage holders are considered nonprime borrowers, compared with only 19 percent nationwide.
In areas where homeowners now owe more than their property is worth, the potential for foreclosure is larger. In the Dallas-Fort Worth area, just over 30 percent of mortgage holders are underwater, the latest reports show.
"In some areas where a number of borrowers have mortgages that are larger than the current value of their homes, any life events such a divorce or loss of a job are likely to translate into foreclosures until prices in those areas recover, not just flatten," Brinkmann said.
"As for the outlook, it is unlikely we will see meaningful reductions in the foreclosure and delinquency rates until the employment situation improves."
Cited from the Dallas Morning News
12:00 AM CDT on Friday, August 21, 2009
Texans continued to fall behind on their mortgage payments in the second quarter, and more than one in 10 Texas mortgages are late or in foreclosure.
At the end of June, 8.79 percent of residential mortgages in the state had delinquent payments and 1.84 percent went into foreclosure, the Mortgage Bankers Association reported Thursday.
Both figures rose compared with the first quarter.
Nationwide, a record 9.24 percent of residential loans were delinquent in the quarter. The closely watched measure includes all mortgages that are at least one payment behind. Texas ranks 17th nationally among states when ranked by the percentage of late mortgage payments.
The national average foreclosure rate in the second quarter was 3 percent.
Just four states – California, Florida, Arizona and Nevada – accounted for 44 percent of the nation's new home foreclosures during the second quarter, the Washington, D.C.-based trade group said.
"Florida continues to establish itself as the worst state in the union for mortgage performance, closely followed only by Nevada," said Jay Brinkmann, MBA's chief economist.
In Florida, 22.8 percent of mortgages were delinquent or in foreclosure, and in Nevada 21.3 percent of home loans have past-due payments or are in foreclosure.
In Texas, most of the loans facing foreclosure are subprime mortgages. In the second quarter, 28.49 percent of subprime adjustable-rate loans in the state were past due. That compares with an 8.18 percent delinquency rate for prime mortgages statewide.
About 30 percent of Texas mortgage holders are considered nonprime borrowers, compared with only 19 percent nationwide.
In areas where homeowners now owe more than their property is worth, the potential for foreclosure is larger. In the Dallas-Fort Worth area, just over 30 percent of mortgage holders are underwater, the latest reports show.
"In some areas where a number of borrowers have mortgages that are larger than the current value of their homes, any life events such a divorce or loss of a job are likely to translate into foreclosures until prices in those areas recover, not just flatten," Brinkmann said.
"As for the outlook, it is unlikely we will see meaningful reductions in the foreclosure and delinquency rates until the employment situation improves."
Cited from the Dallas Morning News
Wednesday, May 13, 2009
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