Hot Topics » Radovan Karadzic • Zimbabwe • Iraq • Environment • America votes • Olympics • more topics »
The amount of money Americans pulled out of their homes is at a four-year low as homeowners battle falling home values and stricter standards among lenders, Freddie Mac said Thursday.
Sales of existing homes in June slowed more than expected and hit their lowest level in 10 years, according to an industry trade group report released on Thursday.
The House on Wednesday passed a $300 billion housing rescue bill aimed at helping troubled homeowners avoid foreclosure and supporting mortgage giants Fannie Mae and Freddie Mac.
Rates on 30-year mortgages rose for the third consecutive week amid concerns about mounting inflation, the weak housing market and speculation that the Federal Reserve will hike interest rates soon.
Mortgage application volume declined 6.2% during the week ending July 18, according to the trade group Mortgage Bankers Association's weekly application survey.
President Bush dropped his opposition Wednesday to legislation aiming to calm the chaotic housing market despite his objections to a $3.9 billion provision. The House was expected to vote on the bill Wednesday, and it could become law as early as this week.
The government would help struggling homeowners get new, cheaper loans and be allowed to offer troubled mortgage giants Fannie Mae and Freddie Mac a cash infusion as part of legislation that aims to calm the chaotic housing market.
U.S. stocks staged a late-day rally Tuesday, with the Dow closing up 135 points, as falling oil prices overshadowed grim quarterly financial reports.
Treasury Secretary Henry Paulson urged Congress Tuesday to approve the Bush administration's plan to back up mortgage financiers Fannie Mae and Freddie Mac.
There are two things you may have heard about the Federal Reserve Board, both of which are wrong.
The amount of money Americans pulled out of their homes is at a four-year low as homeowners battle falling home values and stricter standards among lenders, Freddie Mac said Thursday.
Sales of existing homes in June slowed more than expected and hit their lowest level in 10 years, according to an industry trade group report released on Thursday.
The House on Wednesday passed a $300 billion housing rescue bill aimed at helping troubled homeowners avoid foreclosure and supporting mortgage giants Fannie Mae and Freddie Mac.
Rates on 30-year mortgages rose for the third consecutive week amid concerns about mounting inflation, the weak housing market and speculation that the Federal Reserve will hike interest rates soon.
Mortgage application volume declined 6.2% during the week ending July 18, according to the trade group Mortgage Bankers Association's weekly application survey.
President Bush dropped his opposition Wednesday to legislation aiming to calm the chaotic housing market despite his objections to a $3.9 billion provision. The House was expected to vote on the bill Wednesday, and it could become law as early as this week.
The government would help struggling homeowners get new, cheaper loans and be allowed to offer troubled mortgage giants Fannie Mae and Freddie Mac a cash infusion as part of legislation that aims to calm the chaotic housing market.
U.S. stocks staged a late-day rally Tuesday, with the Dow closing up 135 points, as falling oil prices overshadowed grim quarterly financial reports.
Treasury Secretary Henry Paulson urged Congress Tuesday to approve the Bush administration's plan to back up mortgage financiers Fannie Mae and Freddie Mac.
There are two things you may have heard about the Federal Reserve Board, both of which are wrong.
Treasury Secretary Henry Paulson said Congress needs to quickly approve a support package for Fannie Mae and Freddie Mac in order for the two to maintain their vital roles
Bank examiners from the Federal Reserve and the Comptroller of the Currency are scrutinizing the books of U.S. mortgage finance giants Fannie Mae and Freddie Mac, according to a published report.
Treasury Secretary Henry Paulson sought to reassure an anxious public Sunday that the banking system is sound, while also bracing people for more troubled times ahead.
Mortgage financier Freddie Mac took a step toward issuing common and preferred stock to help bolster its balance sheet Friday
Are you ready to buy a house in this crazy market? Better bring a boatload of money to the closing.
A group representing the buyers and sellers of mortgage backed securities unveiled a plan on Wednesday to recharge the moribund mortgage market.
A plan emerging in Congress would require government approval of executives' pay at Fannie Mae and Freddie Mac as part of a federal lifeline for the mortgage companies.
Rates on 30-year fixed mortgages fell for the second week in a row on increased speculation that the Federal Reserve will not raise interest rates before the end of the year, according to mortgage backer Freddie Mac.
Washington is tying itself in knots trying to shore up confidence in the financial sector.
The FBI is investigating Indymac Bancorp for fraud, a source tells CNN.
Now-defunct IndyMac Bancorp Inc. is under investigation by the FBI for possible fraud in connection with home loans made to risky borrowers
Now-defunct IndyMac Bancorp Inc. is under investigation by the FBI for possible fraud in connection with home loans made to risky borrowers, The Associated Press has learned.
Mortgage application volume rose 1.7% during the week ending July 11, according to the trade group Mortgage Bankers Association's weekly application survey.
The housing finance crisis and spiraling energy costs will remain a drag on the U.S. economy for the rest of the year, Federal Reserve Chairman Ben Bernanke told lawmakers in a gloomy presentation about the economic outlook.
Fannie Mae and Freddie Mac were created to help individuals realize the American dream of home ownership, but they now find their survival at risk in the U.S. mortgage crisis.
Originally created to bail out banks during the Great Depression, the two giant mortgage companies are struggling due to a modern-day housing meltdown -
The financial sector tumbled Monday, dragging down the broader market, as the IndyMac bank failure countered relief that the government is helping Fannie Mae and Freddie Mac.
Shares of Washington Mutual and National City both plunged Monday as fears grew about the credit crisis plaguing big banks.
The Federal Reserve unanimously approved new mortgage lending rules Monday in a crackdown on shady practices - particularly those involving subprime loans made to borrowers with weak credit.
The dollar regained a little lost ground against most foreign currencies Monday as traders cheered the U.S. government's plan to rescue ailing mortgage finance firms Fannie Mae and Freddie Mac.
Oil prices were virtually unchanged Monday as a plan to aid the major U.S. mortgage finance firms was countered by continuing concerns about supply, particularly after Brazilian oil workers began a 5-day strike.
The fate of Fannie Mae and Freddie Mac may be hanging in the balance but many mortgage borrowers already find themselves struggling to find affordable loans.
There was unusually high demand for Freddie Mac bonds Monday, with its routine debt auction oversubscribed; but its shares continued to waffle as investors digested the government's weekend efforts to prop up the troubled company.
The Treasury Department and Federal Reserve on Sunday outlined a comprehensive government plan to prop up Fannie Mae and Freddie Mac - the two mortgage finance giants that play a crucial role in the U.S. economy.
The euro has fallen against the dollar after the U.S. government unveiled plans to shore up mortgage lenders Fannie Mae and Freddie Mac.
The U.S. Treasury and the Federal Reserve announced steps Sunday to shore up mortgage giants Fannie Mae and Freddie Mac
The anxiety over Fannie Mae and Freddie Mac, crucial to a recovery of the battered housing market and the economy as a whole, reached a fever pitch on Friday and took shares of the companies and the broader markets on a wild ride.
Anxiety over a possible government takeover of Fannie Mae and Freddie Mac sent financial stocks into a virtual tailspin Friday.
Should the mortgage giants fail, they'll load a huge portion of America's housing debt onto the already overburdened shoulders of the government
The fate of Fannie Mae and Freddie Mac may be hanging in the balance but many mortgage borrowers already find themselves struggling to find affordable loans.
Treasury Secretary Henry Paulson, seeking to calm nervous investors about the financial state of Fannie Mae and Freddie Mac said Friday the government's primary policy focus currently is to leave the congressionally-created mortgage giants intact.
U.S. stocks were poised to drop at Friday's open as troubled mortgage finance giants Fannie Mae and Freddie Mac plunged in pre-market trading.
Wall Street advanced Thursday at the end of a volatile session in which investors swayed between scooping up shares hit in the recent battering and worrying about a $5 spike in oil prices and fresh bank and auto sector woes.
Rates on 30-year fixed mortgages edged higher during the week ended Thursday, despite a recent dip in home sales for May.
Stocks looked set for an upbeat start Wednesday as European markets rally but traders remain wary of high oil prices.
Mortgage application volume rose 7.5% during the week ending July 4, according to the trade group Mortgage Bankers Association's weekly application survey.
The plunging stock prices of mortgage finance giants Fannie Mae and Freddie Mac could make the recovery for the housing market and the overall economy much more difficult, analysts say.
A mortgage rescue plan to save hundreds of thousands of homeowners from foreclosure drew overwhelming Senate support Monday, inching toward passage despite Republican objections.
Stocks headed for a stronger open Tuesday as falling oil prices met with nervousness about corporate profits and mounting woes in the financial sector.
A mortgage rescue plan to save hundreds of thousands of homeowners from foreclosure drew overwhelming Senate support Monday, inching toward passage despite Republican objections.
Shares of mortgage financing giants Fannie Mae and Freddie Mac both plummeted Monday after an analyst with Lehman Brothers wrote in a report that the two companies may need to raise billions of dollars if accounting rules are changed.
Rates on 30-year fixed mortgages fell for the first time in three weeks after the Federal Reserve said last week that it expects inflation to level off, according to mortgage backer Freddie Mac.
Mortgage application volume rose 3.6% during the week ended June 27, according to the trade group Mortgage Bankers Association's weekly application survey.
Rates on 30-year mortgages rose again this week, climbing to the highest level in more than nine months, reflecting more concerns about how the Federal Reserve will respond to higher inflation pressures.
If you have a mortgage, carry credit cards and are considering a home equity loan to cope with soaring food and energy prices, you should be paying attention to what the Fed has to say.
While Congress has talked for a year about a federal response to the foreclosure crisis, attorneys general have been busy helping troubled homeowners at the state level.
Rates on 30-year fixed mortgages have surged a tenth of a percentage point to a 9-month high on growing concerns about inflation, mortgage backer Freddie Mac said Thursday.
Soaring foreclosures are continuing to raise questions about the mortgage industry's claims that they are making a dent in the housing crisis
Rates on 30-year fixed mortgages have surged nearly a quarter percentage point to an 8-month high on growing concerns about inflation, mortgage backer Freddie Mac said Thursday.
When Lehman Brothers reported a stunning $2.8 billion loss Monday, it was just the latest sign that bad mortgage loans continue to be a problem for the financial markets and the economy.
Rates on 30-year mortgages were pushed up this week above 6 percent amid growing concerns about inflation, mortgage backer Freddie Mac said Thursday.
Sen. Barack Obama on Tuesday rolled out ideas he said will help stabilize the U.S. housing market, while saying President Bush's response was "too little, too late."
Northwest Airlines promises Dave Herstad 18,375 frequent flier miles when he applies for his mortgage. He gets the loan, but not the miles. After several rounds of finger-pointing between supervisors at Northwest, Lending Tree and Home Loan Center, his miles remain missing. What should he do?
Congress moved a big step closer Tuesday to expanding government efforts to help at-risk homeowners.
Senate Banking Committee leaders said Monday that they have come to a deal on a housing bill that would prevent foreclosures, create affordable housing and revamp oversight of two of the mortgage market's biggest players: Fannie Mae and Freddie Mac.
On Capitol Hill this week, lawmakers are set to continue to grapple with the best response to the rising tide of home foreclosures. But the Bush administration says it has a solution in place: A nine-month old mortgage refinancing program run by the Federal Housing Administration.
Treasury Secretary Henry Paulson is talking tough, but don't expect Washington to bring Fannie Mae to heel till the housing crisis eases.
Key lawmakers spent Thursday trying to broker a deal on a bill that would allow the government to insure up to $300 billion of home loans and overhaul oversight of key players in the mortgage industry.
Rates on 30-year mortgages eased this week, but remained above 6%, as signs that the overall economy is recovering helped offset ongoing weakness in the housing market, mortgage backer Freddie Mac said Thursday.
Freddie Mac is the latest beneficiary of wishful thinking about the housing market.
Politicians in Washington are busy arguing about the financial and moral hazards of coming to the aid of troubled homeowners.
It's entirely possible that in the future buying a house that is shocking pink, ultramodern or in a neighborhood that's up and coming (no Starbucks yet) could add an extra fee to your mortgage for what banks perceive as added risk.
Rates on 30-year mortgages edged lower this week but remained above 6% as signs of economic stability overshadowed continued weakness in the housing market.
Fannie Mae, the nation's largest buyer of home loans, expects that the housing slump will persist into next year
Mortgage financer Fannie Mae warned Tuesday that the tumbling home values and loan defaults that have crippled the U.S. economy are likely to worsen, after posting a far larger-than-expected first-quarter loss.
The percentage of homeowners who refinanced with a Freddie Mac-owned loan in the first quarter of 2008 and received mortgages with loan amounts higher than their original mortgages, fell to the lowest levels since early 2004.
A good credit score doesn't mean you can't end up in foreclosure.
Among the nightmares lurking around the corner for the already battered housing and credit markets would be a meltdown at mortgage financing giants Fannie Mae and Freddie Mac.
You may think your job is safe. But you still may not be spared the pain resulting from the weak labor market.
Mortgage rates were mixed this week as the index of leading indicators fell for the fifth straight month, home prices continued their decline and consumer confidence reached a 5-year low, Freddie Mac reported Thursday.
Consumer confidence plunged to a five-year low Tuesday as tight credit markets, rising prices and worsening job prospects weigh on American consumers. But Gerri Willis is here to give us reasons for optimism.
Earlier this year, when mortgage rates dipped below 6% for the first time since 2005, homeowners rushed to refinance costlier loans. In fact, more than six out of 10 mortgage applications so far this year have been for refis.
Lenders claim they want to help troubled mortgage borrowers stay in their homes. But the reality is that many foreclosure prevention counselors are running into lots of obstacles.
Borrowers looking for fixed-rate mortgages can now find the lowest rates in more than a month. But experts warn the decline may not last for long.
An additional $200 billion in financing is headed to the battered mortgage markets after federal regulators Wednesday said they would allow finance giants Fannie Mae and Freddie Mac to reduce the capital they keep on hand.
The Federal Reserve cut interest rates by three-quarters of a percentage point Tuesday, but don't expect mortgage rates to go down too. In fact, home loans could be heading higher.
The credit crunch has finally hit the traditional mortgage market.
Mortgage rates rose across the board this week as lower home prices and mortgage rates contributed to a more affordable market for homebuyers, Freddie Mac reported Thursday.
It's going to cost some borrowers even more to get a mortgage beginning in 2009.
Interest rates on 30-year mortgages are down and mortgage applications are up. Is it time to refinance?
Stocks tanked and bonds rallied Thursday as investors eyed the latest wave of credit market woes and opted to dump equities and scoop up the relatively safer government debt.
More home owners than ever are losing the battle to make their monthly mortgage payments.
After a series of gloomy readings on the economy, mortgage rates fell this week in the slumping housing market, erasing last week's jump, Freddie Mac reported Thursday.
Home foreclosures soared to an all-time high in the final quarter of last year, underscoring the suffering of distressed homeowners and the growing danger the housing meltdown poses for the economy
Stocks slumped Thursday after comments from Fed chair Ben Bernanke on the banking sector and weak reports on economic growth and the jobs market revived worries about a recession.
Stocks slumped Thursday after comments from Fed chair Ben Bernanke on the banking sector and weak reports on economic growth and the jobs market revived worries about a recession.
The housing bust is handing Fannie Mae and Freddie Mac a fresh chance to rebuild their battered images. But the hefty losses the firms reported this week, and worries about the health of the economy, show it won't be easy.
Following a January surge in refinancing activities, mortgage rates rose this week in the lackluster housing market, but are likely to decline, Freddie Mac reported Thursday.
Foreclosure gets Congress' attention Tuesday when the Senate decides whether to end debate on a bill aimed at helping homeowners avoid losing their homes.
The Fed has lowered short-term interest rates this year but longer-term bond yields have risen. Call it the new conundrum. And it's adding to the confusion on Wall Street about the economy.
| Most Viewed | Most Emailed | Top Searches |
| Most Viewed | Most Emailed | Top Searches |
Video
