NEWS AND INFORMATION

Mortgage rates fall; Unemployment data still weak
WASHINGTON - Mortgage rates are falling as this week's dramatic action by the Federal Reserve provides a boost to the dismal housing market, but the nation's unemployment rolls are stuck at historically high levels amid a deepening recession.
POSTED: 12-18-2008

News Release from the Federal Housing Finance Agency
Starting Dec. 15, Fannie Mae and Freddie Mac, the huge, government-controlled mortgage underwriters, will sponsor various kinds of relief to homeowners at risk of foreclosure. Here are some of the requirements eligible borrowers must meet: Be at least three months behind on their mortgage payments Owe the bank at least 90% of what the home is worth Live in the home as a primary residence Not be in bankruptcy Be able to prove that they're not just trying to skip out on the loan
POSTED: 11-11-2008

Project Lifeline New Mortgage Help Plan
With home prices falling, even some people with good credit have gotten behind on their payments. Like many subprime borrowers, they signed up for adjustable-rate mortgages that allowed them to make smaller, steady payments for several years until a higher fluctuating interest rate kicked in.
POSTED: 02-12-2008

Mortgage rates at lowest level in 2 years
Freddie Mac said rates on 15-year fixed-rate loans averaged 5.73 percent, down from 5.83 percent last week. A year ago, the 15-year FRM averaged 5.87 percent. The 15-year rate has not been lower since the week ending January 26, 2006, when it averaged 5.70 percent. The 30-year rate has not been lower since the week ending Oct. 13, 2005, when it averaged 6.03 percent, Freddie Mac said
POSTED: 12-04-2007

Mortgage applications are on the rise
The average interest rate for 30-year fixed-rate mortgages decreased to 5.82 percent from 6.09 percent a week earlier. The average interest rate for one-year adjustable-rate mortgages increased to 6.28 percent from 6.24 percent the previous week.
POSTED: 12-04-2007

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