June 4, 2009 |
Applications for home loans fell more than 16% last week as interest rates rose, according to a Mortgage Bankers Assn. survey released Wednesday. As expected, a drop-off occurred among people seeking to refinance their homes, because the benefits of refinancing are driven by rate trends. The trade group said the average rate for 30-year, fixed-rate mortgages jumped to 5.25% from 4.81% a week earlier -- the biggest weekly increase since October.
CALIFORNIA | LOCAL
May 14, 2013 |
SACRAMENTO - In the last century, Californians have said yes to every request for money to help veterans buy homes. Since 2000, they have signed off on $1.4 billion in bonds for that purpose. But most of that money remains untapped. In fact, the state's home loan program for veterans, run by the agency known as Cal-Vet, is doing less and less each year to help servicemen and women returning from Iraq, Afghanistan and elsewhere. Yet there's more money available for the program than in the agency's annual operating budget.
December 11, 2012 |
Accusing Wells Fargo & Co. of reneging on a sweeping mortgage-modification deal, a lawyer for troubled homeowners is trying to reopen a lawsuit involving risky "pick-a-pay" loans written during the housing bubble. Legal filings last week said Wells had failed to provide wide-ranging reductions of loan balances to delinquent borrowers, as it had promised two years ago, when it settled a combined national class-action suit. A bank spokeswoman disputed the filing, calling it riddled with errors.
September 18, 2012 |
Things are looking up for homebuilders, who are in their best collective mood in six years, according to an index from the National Assn. of Home Builders and Wells Fargo. In September, a gauge of builder sentiment rose to 40 from 37 in August, reaching the highest reading since June 2006. The index has risen for five straight months. A measure of their expectations for the next six months rose to 51, up from 43 to another six-year high. Any reading above 50 represents positive feelings about the housing market for new, single-family homes.
March 21, 2004 |
Good news for home buyers: U.S. mortgage lenders are adding funds to their loan portfolios because of continuing low interest rates. The Mortgage Bankers Assn. said Monday that lenders are expected to make $2.5 trillion in new loans this year, 25% higher than forecast earlier. The U.S. mortgage industry last year issued a record volume of home loans -- many for refinancing -- totaling as much as $3.8 trillion, the trade group said.
March 21, 2008 |
Countrywide Financial Corp.'s ex-president and at least nine other former executives of the giant mortgage lender are starting a company that will initially focus on buying home loans on behalf of private investors. Stanford Kurland, who left Calabasas-based Countrywide in 2006, is leading the management team of Private National Mortgage Acceptance Co., or PennyMac, according to the company's website. It plans to buy loans "from financial institutions seeking to reduce their mortgage exposures" in response to "the dislocations in the U.S. mortgage market."