Potential homebuyers have been watching and waiting for mortgage rates to reach near-record lows. At the same time, with rates so impossibly low, now is perhaps the best possible time for potential homebuyers to take the plunge. The recent spike in mortgage rates is a double-edged sword for the housing market. With the government pulling its support of mortgage-backed securities (MBS) and artificially lowering mortgage rates, buyers will be repelled by rising rates. At the same time, rates are projected to continue to rise, so now could be the perfect time.Click to continue

In the wake of the FHA simplifying the loan modification process, over 20,000 JPMorgan Chase employees are in the process of being laid off.Click to continue

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing fixed mortgage rates climbing higher amid a solid employment report for May. The 30-year fixed-rate mortgage (FRM) averaged 3.98 percent with an average 0.7 point for the week ending June 13, 2013, up from last week when it averaged 3.91 percent. Last year at this time, the 30-year FRM averaged 3.71 percent. Since beginning their climb last month, the 30-year FRM has increased over half a percentage point.Click to continue

The U.S. Department of the Treasury and the U.S. Department of Housing & Urban Development (HUD) have announced an extension of the Obama Administration’s Making Home Affordable program through Dec. 31, 2015. The new deadline was determined in coordination with the Federal Housing Finance Agency (FHFA) to align with extended deadlines for the Home Affordable Refinance Program (HARP) and the Streamlined Modification Initiative for homeowners with loans owned or guaranteed by Fannie Mae and Freddie Mac.Click to continue

The Consumer Financial Protection Bureau (CFPB) has finalized rules to facilitate access to credit by creating specific exemptions and modifications to the CFPB’s Ability-to-Repay rule for small creditors, community development lenders, and housing stabilization programs. The amendments also revised rules on how to calculate loan origination compensation for certain purposes. The final rule amends the CFPB’s Ability-to-Repay rule, which was finalized in January of this year.Click to continue

The U.S. Department of Housing & Urban Development (HUD) and the U.S. Department of the Treasury have released the April edition of the Obama Administration's Housing Scorecard—a comprehensive report on the nation’s housing market. The latest data show important progress across many key indicators—as home values continue to rise and home sales remained strong in April—although officials caution that the overall recovery remains fragile.Click to continue

Another election has come and gone. Barack Obama has remained as the 44th President of the United States of America. On a national level, there is much work to be done. Our society is a tug-of-war between opposing and evolving values. Our economy hangs in the balance between progress and utter disaster. The development of our society and economy over the next four years will determine the true caliber of leadership that exists in our most recently elected president.Click to continue

CoreLogic has released its analysis showing approximately 200,000 more residential properties returned to a state of positive equity during the fourth quarter of 2012. This brings the total number of properties that moved from negative to positive equity in 2012 to 1.7 million and the number of mortgaged residential properties with equity to 38.1 million. The analysis also shows that 10.4 million, or 21.5 percent of all residential properties with a mortgage, were still in negative equity at the end of the fourth quarter of 2012.Click to continue

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing mortgage rates moving higher from the previous week, as the 30-year fixed-rate mortgage (FRM) averaged 3.42 percent, its highest reading since Sept. 29, 2012, with an average 0.7 point for the week ending Jan. 24. This total was up from last week when it averaged 3.38 percent. Last year at this time, the 30-year FRM nearly hit the four percent mark, averaging 3.98 percent.Click to continue

Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing fixed mortgage rates breaking their previous average record lows as the 30-year fixed-rate mortgage (FRM) averaged 3.40 percent with an average 0.6 point for the week ending Sept. 27, 2012, down from last week when it averaged 3.49 percent. Last year at this time, the 30-year FRM averaged 4.01 percent. Click to continue