| Apr 16, 2012 2:32PM After closing out the previous week with slight gains Mortgages Rates have done the same to begin the current week. On average, this brings rates to their best levels since late February , however, rates were in similar territory on Tuesday 4/10. The late February levels in question contained all time mortgage rate lows. Any time we talk about "lows" or "best levels," it's important to keep in mind that we're constantly assessing BOTH the interest rates AND the costs associated with them. In actuality... Apr 16, 2012 3:40PM Thirty-three housing related organizations have signed on to a letter advocating that a broadly defined definition of a Qualified Mortgage (QM) be attached to the forthcoming Ability to Pay regulation being formulated by the Consumer Financial Protection Bureau (CFPB). The letter, sent today to Richard Cordray, Director of the Bureau, urged the Bureau to avoid an unnecessarily narrow definition of QM that will cover only a "modest proportion loan products and underwriting standards and serve only...
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