Average U.S. rates on fixed mortgages have risen for a fourth straight week, remaining slightly above record lows. Cheap mortgages have helped fuel a modest housing recovery this year.
The number of Americans applying for unemployment benefits edged up slightly last week but remained at a level consistent with modest gains in hiring.
Mitt Romney defined and took command of the 2012 presidential election by selecting Wisconsin congressman Paul Ryan as his running mate.
Tom Fitton's recent column misstates the facts and law surrounding the home mortgages of former Sen. Chris Dodd, Connecticut Democrat ("Crony capitalism, Countrywide and Congress," Web, July 30).
Government-controlled mortgage giant Freddie Mac posted net income of $1.2 billion for the second quarter and isn't requesting any additional federal aid for the period.
The average rate on the 30-year fixed mortgage fell again, this time dropping below 3.50 percent for the first time on records dating back 60 years.
World oil prices hit two-month highs Thursday as traders fretted over the impact of simmering geopolitical tensions in the crude-rich Middle East.
Q. I frequently read your column in the Friday Home Guide. Recently, you described a retired couple who were thinking of refinancing from a 10-year fixed rate to a 30-year term because interest rates are so low their financial adviser recommended that they keep a mortgage. We, too, tried to refinance out of our 30-year 4.75 percent mortgage to a lower interest rate. Our credit union, with whom we have done business for decades, declined our loan application because of a lack of income. (I am recently retired.)
The former Countrywide Financial Corp., whose subprime loans helped start the nation's foreclosure crisis, made hundreds of discount loans to buy influence with members of Congress, congressional staff, top government officials and executives of troubled mortgage giant Fannie Mae, according to a House report.
