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Mortgage Rate Information

By Mike Vila on April 15, 2013 After an early morning sell-off, mortgages rallied in the afternoon and ended yesterday more or less unchanged.  This morning mortgages are flat, and given the lack of scheduled economic releases, I don’t anticipate much change in mortgage rates.  However, Boston Fed President Eric Rosengren (who is typically pretty dovish on monetary policy) speaks around lunch, and if he indicates that he is open to the idea of tapering asset purchases later in the year, we could see some selling off in the afternoon. Want to save on your monthly mortgage paym...

April 15th, 2013 | Mortgage Rates, Mortgage Rate Information

National Mortgage Settlement Funds to be mailed

By  Mike Vila on April  9, 2013 Approximately 4  million borrowers will share $3.6 billion in cash as part of a settlement between federal regulators and banks accused of foreclosure-processing mistakes. Most borrowers will receive checks ranging from $300 to $1,000. Bank regulators allowed consumers to ask for a review of their foreclosure files. About 439,000 of those getting payments under the settlement did so. Those borrowers will be paid twice as much as those who didn’t seek a review. Those who qualified for the smallest payments include many who lost their home...

April 9th, 2013 | Foreclosures, National Mortgage Settlement Funds to be mailed