Home Loans Mortgage: Mortgage Rates Return To All-Time Lows; Lending Fell 10% in 2011

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Sep 18, 2012 1:25PM

Mortgage Rates Return To All-Time Lows

Mortgage rates moved slightly lower again today. Much like yesterday, not all lenders' rates were better and a few were priced marginally worse. In a departure from yesterday, today's overall improvement was good enough to move the average rate offerings to NEW all-time lows. The difference between today and July 23rd is minimal at best, however, and the prevailing best-execution rates continue to straddle 3.375% and 3.5%. (Read More: What is A Best-Execution Mortgage Rate? ) The extent to which...

Sep 18, 2012 1:58PM

Mortgage Lending Fell 10% in 2011 to Lowest Point in 16 Years

Data on lending activity during 2011 at 7,632 financial institutions that are covered by the Home Mortgage Disclosure Act ( HDMA ) was released today and showed continued heavy reliance on FHA-backed mortgage loans. The data came from the Federal Financial Institutions Examination Council ( FFIEC ) and covered banks, savings associations, credit unions, and mortgage companies. The activity monitored including mortgage applications, originations, purchases and sales of loans. The total number of originated...

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9:10 AM:	Bond Markets Steady In Stronger Territory, Unaffected By Data
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Today's Comments

	"HARP needs to go away. Enough is enough. When the housing bubble burst in 2006 the taxpayers were left to pay for much of the fallout. The program is risky..."
	"Simple solution Mr. Yun: Share in the buyback risk. If the market has turned, put 10% skin in the game out of every commission to show your faith that..."
	"You're absolutely right, John. I cringe when I think of private sector financing. Contrary to DeMarco's reasoning for higher g-fees, during the..."