Mortgages Blog

Wednesday, November 17, 2010 11:39 am
By Marcie Geffner · Bankrate.com

Homeowners who’ve stopped making their mortgage payments can expect the foreclosure process to be a long, slow grind, and some new stats from LPS Applied Analytics in Jacksonville, Fla., suggest the timeline is stretching out to be even longer as the foreclosure crisis persists. A few observations from the latest LPS data: • Loans in the

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Monday, November 15, 2010 9:53 am
By Holden Lewis · Bankrate.com

This week’s economic calendar has plenty of stuff. For mortgage rates, the most important item on this week’s calendar comes Wednesday, when the Consumer Price Index for October is released. According to Briefing.com, the consensus prediction is that overall the index rose 0.3 percent, and core CPI rose 0.1 percent. If core inflation is much higher

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Monday, November 15, 2010 9:24 am
By Holden Lewis · Bankrate.com

Mortgage rates woke up on the wrong side of the bed this morning. Fixed mortgage rates are up about one-eighth of a percentage point compared to the end of the day Friday. What bad news for people who decided during the weekend to refinance this week. You’re asking whether this is a temporary blip or

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Thursday, November 11, 2010 10:06 am
By Holden Lewis · Bankrate.com

Mortgage rates went up a little this week. How much? Read my Mortgage Analysis. My hunch is that mortgage rates will trend lower over the next few weeks. My fellow Rate Trend Index voters differ. Half of them think rates will rise.

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Thursday, November 11, 2010 10:00 am
By Holden Lewis · Bankrate.com

A couple of Washington insiders want to get rid of the mortgage interest tax deduction. Normally that’s not big news, because thousands of Washington insiders would like to raise your taxes (especially if they can call it “reform”) while pocketing your money. But this pair of Washington insiders is more influential than your run-of-the-mill corporate

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Monday, November 8, 2010 10:00 am
By Jay MacDonald · Bankrate.com

As a longtime consultant and partner in his own South Florida mortgage firm, Jason Biro watched in horror as the pin of reality slowly approached the nation’s real estate bubble. Unlike most, he and his wife Carolyn didn’t just hold their breath and hope for the best; they started knitting a safety net called SavingYourAmericanDream.org, a nonprofit

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Friday, November 5, 2010 10:49 am
By Marcie Geffner · Bankrate.com

Few things in life are really fair. But one of the most overlooked stories in the U.S. foreclosure crisis may be the strikingly large, and at times grossly unfair, disparities in how homeowners are treated depending on where they live. Consider: Some states handle foreclosures mainly though the courts. Others use a nonjudicial process. Still

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Thursday, November 4, 2010 10:43 am
By Holden Lewis · Bankrate.com

In trying to stimulate the housing market, two parts of the federal government are working at cross purposes. The Federal Reserve keeps flushing in an effort to get liquidity flowing through the pipes of the economy, while an agency called FHFA keeps clogging them. Yesterday the Fed announced another round of measures designed to depress

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Tuesday, November 2, 2010 9:27 am
By Holden Lewis · Bankrate.com

The Federal Reserve’s rate-setting committee meets today and tomorrow. Around 2:15 p.m. eastern time tomorrow, the Fed will issue its latest rate policy statement, and it will move markets. The prudent thing to do is lock your mortgage rate before tomorrow afternoon. It is quite possible that long-term interest rates will go down after the

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Monday, November 1, 2010 8:29 am
By Holden Lewis · Bankrate.com

A week ago, I was attending the Mortgage Bankers Association’s annual conference, in Atlanta. The dominant issue was regulation. Two years after we, the taxpayers, bailed them out with billions of dollars, the mortgage bankers want to be left alone to do as they please. As we continue to dig out of the mortgage-led real

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