Rising mortgage rates and strong price appreciation lead to one of the largest quarterly increases in mortgage burden on record
The bureau's interim director said it continues to be associated with the principles of the person who founded it
(Bloomberg News) - Fannie Mae (FNMA) and Freddie Mac (FMCC), the U.S.-owned mortgage-finance companies, could return billions of dollars in profits to taxpayers who bailed them out in 2008, White House budget analysts said today.
The Federal Housing Finance Agency (FHFA) today directed Fannie Mae and Freddie Mac to extend the Home Affordable Refinance Program (HARP) by two years to December 31, 2015. The program was set to expire December 31, 2013.
While the median national list price rose by only a modest amount in March, all indicators suggest that a broad-based housing recovery is beginning to take hold across the nation as a whole. List prices are appreciating at a year-over-year basis in more than 100 of the 146 markets tracked by Realtor.com and nearly all are within reach of achieving positive year-over-year price growth by the end of the year. A successful spring market could move the entire nation into the black.
(CNBC) - Homes are more affordable now than they have been in decades, but that could turn more quickly than expected, because the affordability is based entirely on mortgage rates.
(AEI) -- Over the past year, the Federal Reserve has ramped up its policy of quantitative easing, with the result being new stock market highs and surging bond prices. Moreover, housing prices jumped 8%, the biggest annual gain since 2006.
It was very popular at one time for real estate investors to use the Seller as a source of funding when the interest rates at the bank where in the 15%+ range just a few decades ago.