The NYT’s Gretchen Morgenson sounds a tad bit skeptical about President Obama’s call last week to convene a new task force to investigate last decades’s mortgage-market debacle, including Wall Street’s bundling of “crap” mortgages into massive securities.
After all, it’s now four years since Bear Stearns went belly up. The SEC and Justice Department have had [...]

This is potentially big: Fannie Mae and Freddie Mac may allow people mortgage forbearances (i.e. skip payments) if they can prove unemployment interfered with their ability to pay their mortgages.
This will undoubtedly help people who are jobless and financially struggling. There’s no question about it. But here’s the question: What does it do to the [...]

Some libertarians — and supporters of Ron Paul — think home “ownership” as currently defined and structured is basically a fraud.
We’ll let you read the above link and decide for yourself. But even one of the libertarian proponents of a revamped mortgage-loan industry concedes: “Of course, all of this would mean effectively returning to [...]

Bank of America has organized a good-intentioned event: It plans to meet in Boston with mortgage holders, face to face, in person, to go over how mortgage-payment pressures can be eased.
“The purpose of this event is to eliminate the faxes, the FedEx mailings and the phone calls to 800 numbers and allow for face-to-face interaction [...]

Scott thinks that a 20 percent downpayment requirement to get a mortgage may actually help the housing market in the long run, largely by keeping home prices down and preventing market bubbles. He makes a persuasive case.
Currently, all the media hype aside, most lenders are not requiring 20-percent downpayments. The national downpayment average is 12.29 [...]

Good news via the BBJ:
The report found that, as of April 30, 5.79 percent of active home loans were delinquent in the so-called Boston-Quincy region. The rate was down from March’s rate of 5.91 percent and marked the region’s lowest delinquency rate on record since July 2009. CoreLogic qualifies a mortgage as delinquent if it [...]

Some fear plans by the government to reduce its levels of guaranteed mortgage loans could lead to further sale and price reductions.
This is obviously a big deal, especially for high-cost states like Massachusetts.
But don’t such fears kind of confirm the notion that guaranteed government loans for high-end homes led to absurdly high prices in the [...]

Inquire within for current Mortgage Rates or questions with Guidelines
Overall, it likely will be another active week for mortgage rates. Besides the week’s important economic news, look for the stock markets to be a major influence on trading. The most important day of the week is Thursday with the Retail Sales and PPI reports on [...]

This Post will talk about the upcoming weeks Economic Data and how it will affect current Mortgage Rates

This Post will talk about the upcoming weeks Economic Data and how it will affect current Mortgage Rates