Mortgage News

Nationwide Building Society has reported a big slump in profits and delivered a gloomy forecast for the UK economy and the housing market.

Seven people were arrested Thursday and charged with operating a $142 million mortgage and security fraud that pushed 201 Riverside County homes into foreclosure and harmed hundreds of investors in California and Arizona, driving many to financial ruin.

Struggling homeowners in Illinois will soon get some guidance. Officials with the Illinois Housing Development Authority say they've approved allocating $1.4 million in federal grant money to pay for free counseling for homeowners.

Rates on 30-year mortgages stayed below 5 percent this week but remained above the record set earlier this year, Freddie Mac said Thursday.

For the past several years, the Federal Housing Administration has been the go-to financing resource for cash-strapped homebuyers who can't come up with a big down payment.

Regulators continued their leisurely pace of bank closings this week, shuttering only a tiny one branch bank in Florida. With hundreds of banks technically insolvent, loan credit quality declining and non performing loans at all time highs, regulators seem to be hoping that zombie banks can somehow recover if they are left open. This seems to ...

Asian shares slipped on Friday, but recovered some early losses, while the dollar was steady after U.S. data raised fears that a global economic recovery could lose momentum.

A recovery in U.S. housing will have to wait at least until next year. The outlook for the home market dimmed this week as residential construction and mortgage applications fell and loan delinquencies reached a record.

A federal grand jury in Eugene has indicted 13 people on mortgage and loan fraud charges arising from the collapse of a Central Oregon development company.

Stocks are set to continue their slide when the market opens Friday as the dollar strengthens further, and after a week of mixed economic reports.

The Canadian housing market has seen a stronger and faster rebound from the recession than any other segment of the economy, due in large part to enticingly low mortgage rates.

Rates on 30-year fixed-rate mortgages dropped to their lowest levels since May, Freddie Mac reported on Thursday.

Foreclosures on prime mortgages and home loans insured by the Federal Housing Administration rose to three-decade highs in the third quarter, driven by the biggest job losses since the Great Depression.

But before you rush out to claim your extra cash, take a moment to make sure you're not in the housing market for the wrong reasons. We've found that several of our most cherished beliefs about the value of a home don't hold true:

In this Aug. 20, 2004 file photo, shopppers stroll through Faneuil Hall Marketplace, in Boston.

A gauge of future economic activity and a report on unemployment benefits signaled Thursday that the recovery likely will remain weak in the coming months.

A stronger dollar and more discouraging signs of a subdued economic recovery triggered a broad sell-off in stocks.

While many of his peers are hunkering down in the financial crisis, U.S. Bancorp chief executive Richard Davis is on the offensive.

The Mortgage Bankers Association publishes the results of a weekly applications survey that covers roughly 50 percent of all residential mortgage originations and tracks the average interest rate for 30 year and 15 year fixed rate mortgages, 1 year ARMs as well as application volume for both purchase and refinance applications.

11/18/09 Credit reporting agency TransUnion announced Monday that the overall delinquency rate for mortgages continued to rise for the quarter.