Mortgages Blog

Monday, December 20, 2010 10:00 am
By Jay MacDonald · Bankrate.com

Like a rollicking round of Whack-a-Mole, problematic participants in our national foreclosure mess just keep popping up. We’ve been wailing on subprime lenders for two or three years now, followed by foreclosure mills and robosigners and robojudges and rocket dockets. Comes now a new mortgage mole that at least one expert claims deserves a whack:

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Thursday, December 16, 2010 3:12 pm
By Marcie Geffner · Bankrate.com

“Failure” may be too harsh a word to describe the shortcomings of the U.S. Treasury’s Home Affordable Modification Program, but HAMP hasn’t exactly been an unqualified success either, judging by the Executive Summary of a 192-page report issued Dec. 14 by a Congressional oversight panel. Here are three snippets, quoting directly from the report: •

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Thursday, December 16, 2010 9:45 am
By Holden Lewis · Bankrate.com

Mortgage rates hit 5 percent for the first time since May, in this week’s Bankrate.com rate survey. Read Marcie Geffner’s story to find out why. Actually, we can’t know for sure why rates have risen so much, so quickly. How quickly? Six weeks ago, the 30-year fixed was 4.42 percent, the lowest it’s ever been

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Wednesday, December 15, 2010 9:43 am
By Holden Lewis · Bankrate.com

This won’t come as a shock to you, but I was wrong in last week’s Rate Trend Index, when I predicted that mortgage rates would fall in the coming week. “When mortgage rates move up or down in big steps, they usually overshoot,” I wrote. “That’s why I believe this jump in mortgage rates will

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Monday, December 13, 2010 10:14 am
By Holden Lewis · Bankrate.com

I spent Sunday in a self-congratulatory mood, as I reveled in the idiocy of other people. Smugness feels good. If you were designing a stadium in Minneapolis, would you make sure it could withstand a 17-inch snowfall? Of course you would. Heavy snowfalls in Minneapolis are predictable. So why did the Metrodome’s architects design an

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Tags: Mortgages
Thursday, December 9, 2010 11:24 am
By Holden Lewis · Bankrate.com

Mortgage rates hit a high last seen in early June in this week’s Bankrate.com survey. Marcie Geffner investigates why. The 30-year fixed has gone up almost half a percentage point in five weeks. I don’t think I’ve seen a complete and convincing explanation for why mortgage rates have risen so quickly. Geffner mentions the Fed’s

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Monday, December 6, 2010 10:00 am
By Jay MacDonald · Bankrate.com

Did you hear the good news? Robogate is over. Fannie Mae and Freddie Mac gave real estate agents the green light last week to go ahead and resume selling foreclosed homes after declaring a brief time-out to investigate some, um, irregularities on the documentation front. And so, casually, perhaps wistfully, we bid adieu to the

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Tags: Mortgages
Friday, December 3, 2010 1:31 pm
By Marcie Geffner · Bankrate.com

The Obama administration has released its November 2010 “Housing Scorecard” report. The report came out with an accompanying press release that, like most such documents, is short on hard facts, but long on data snippets and canned quotes. The quotes, attributed to officials at the Department of Housing and Urban Development, or HUD, are heavy

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Friday, December 3, 2010 9:12 am
By Holden Lewis · Bankrate.com

Investors, economists and observers expected an upbeat employment report today. They didn’t get it. Mortgage rates are likely to stop rising as a result, and they might fall. Nonfarm payrolls grew by 39,000 in November, according to the Labor Department. According to Briefing.com, the consensus forecast was that nonfarm payrolls would register an increase of

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Thursday, December 2, 2010 10:41 am
By Holden Lewis · Bankrate.com

Mortgage rates climbed to their highest level since July, according to Bankrate’s weekly mortgage analysis, in which Marcie Geffner explores why rates are rising in this time of quantitative easing. Rates are even higher today than they were yesterday morning, when Bankrate’s research department was gathering the data. Our researchers caught rates on an elevator

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