- Unbeliebable: White House turns Bieber petition response into immigration screed
- Obama signs law denying Iran ambassador’s visa, but says law is ‘advisory’
- Mich. judge to laughing convicted killer: ‘I hope you die in prison’
- Man charged in Kansas City-area highway shootings
- Keystone XL pipeline still on hold after State Dept. decision
- Fla. man charged with killing 16-month-old son to play Xbox undisturbed
- Drones from the deep: Pentagon develops ocean-floor attack robots
- Michigan mayor slaps back atheists’ try to erect ‘reason station’ at city hall
- PHILLIPS: Where is the conservative establishment?
- 7.5-magnitude earthquake shakes southern Mexico
Women losing coverage under Obamacare, too
Topic - Mortgage Bankers Association
The biggest jump in interest rates since 1987 is pummeling the mortgage market and raising worries about the health of the robust housing rebound that has been fueling economic growth this year.
Lending to homebuyers in the U.S. remains little above the depressed levels hit during the recession because banks are wary about lending amid a slew of regulations coming out next year and proliferation of enforcement actions by state and federal regulators, a top mortgage banking official told The Washington Times.
The Federal Reserve touched off the biggest mortgage refinancing wave since 2009 last month by driving the interest rates on 30-year mortgages to record lows near 3.5 percent.
The Old World's worries are not necessarily bad news for the New World's economy — at least in the short term.
Mortgage applications rose 13 percent last week as consumers refinanced at the lowest rates in decades.
Housing speculators who got burned and are walking away from their investments drove the foreclosure rate on prime mortgage loans to a record high in the first quarter, with the problem most prevalent in California, Florida, Arizona and Nevada.