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09/21/2007 Mortgage Rate Up Just Slightly
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McLEAN, VA -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.34 percent with an average 0.5 point for the week ending September 20, 2007, up from last week when it averaged 6.31 percent. Last year at this time, the 30-year FRM averaged 6.40 percent.
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09/21/2007 Dual Green Gain From Working At Home
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It used to be working at home was a way to tell the boss to shove it, exit the rat race, work in your jammies and get a few tax benefits in the process.
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09/21/2007 Multiple Offers Sign of Faltering Buyers Market
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I've talked with four agents this week who have had contracts beat out by competing buyer offers. This news surprised me, but it shouldn't have. With last month's meltdown in the mortgage industry (actually, more of a purifying), it seems that buyers are starting to come out of the woodwork with good financing in hand to compete with other buyers for houses that are in good shape and priced right.
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09/20/2007 Bush officials say GSEs could be allowed to guarantee jumbo loans
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The Bush administration will consider allowing Fannie Mae and Freddie Mac to guarantee loans in excess of the $417,000 conforming loan limit to inject liquidity into the secondary market for jumbo loans, officials told Congress Thursday.
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09/20/2007 Point2 CEO steps down amid sexual exploitation charges
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Wendell Willick, co-founder and CEO for real estate marketing and technology provider Point2 Technologies, resigned his position last week and this week entered a guilty plea for sexual exploitation of a teen from January 1996 to November 1999 while serving as a church elder in the teen's congregation, according to news reports and court records.
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09/20/2007 Washington state continues crackdown on title insurers
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Four title insurers in Washington state face nearly $300,000 in fines after being accused by the state's Insurance Commission of violating a rule that limits annual spending on gifts and other inducements to $25 per person.
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09/20/2007 New single-family home prices fall 8.6% in California
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New-home sales dropped 27.8 percent in July compared to July 2006, the California Building Industry Association reported today, and new single-family sales fell 20.3 percent, with median new-home prices dropping 4.8 percent and median new single-family home prices falling 8.6 percent.
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09/20/2007 NAR, MBA urge government to continue backing terror insurance
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Realtors and mortgage bankers are applauding House passage of a bill that would expand and extend for an additional 15 years the Terrorism Risk Insurance Act.
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09/20/2007 Mortgage rates up slightly this week
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Long-term mortgage rates were up only slightly this week as markets awaited the Federal Reserve's interest-rate decision Tuesday, Freddie Mac and Bankrate.com reported today.
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09/20/2007 Economic outlook gloomier in August
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A key barometer of future economic conditions fell sharply in August as both jobs and stocks rattled consumers' nerves, The Conference Board reported today.
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