McLean Home Review

Delinquency Rates Suggest End Is In Sight

5. March 2010

The delinquency rate for mortgage loans on one-to-four-unit residential properties fell to a seasonally adjusted rate of 9.47 percent of all loans outstanding as of the end of the fourth quarter of 2009, down 0.17 points from the third quarter of 2009 and up 159 points from one year ago, according to the Mortgage Bankers [...]

The Latest On Mortgage Fraud

5. February 2010

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After six years of double-digit growth, reports of suspected cases of mortgage fraud by lenders leveled off in the first half of 2009 but remained at a historically high level, according to a government report, says Inman News. The Financial Crimes Enforcement Network (FinCEN) said depository institutions reported 32,926 cases of suspected mortgage fraud in [...]

Mortgage Rates Fall For Third Week In A Row!

21. January 2010

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By JOAN E. SOLSMAN of The Wall Street Journal Mortgage rates fell this week, with the third-straight decline pushing the average for 30-year fixed-rate loans back below 5%, according to Freddie Mac’s weekly survey of mortgage rates. Treasury yields have declined recently, and mortgage rates tend to follow the yields. Meanwhile, the U.S. housing market remains unsteady. Wednesday, the [...]

Mortgage Rates Drop!

18. September 2009

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As noted in The Wall Street Journal today: “WASHINGTON — Home-mortgage rates fell again this week, remaining at three-month lows, with the average rate on 30-year, fixed-rate mortgages retreating closer to 5%, according to Freddie Mac’s weekly survey. After yields on Treasurys rebounded from the multidecade lows they hit earlier this year, they have since retraced a [...]

New FBI Reprt Documents Upswing In Mortgage Fraud!

16. July 2009

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Suspicious Activity Reports (SARs) relating to mortgage fraud filings from financial institutions increased 36 percent to 63,713 during Fiscal Year 2008, says the FBI. Analysis of available law enforcement and industry information indicates the top states for mortgage fraud last year were California, Florida, Georgia, Illinois, Michigan, Arizona, Texas, Maryland, Missouri, New Jersey, New York, [...]

Mixed Market Reactions and Premature Announcements

18. May 2009

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Provided bySun Trust Mortgage: ”I WILL ACT NOW. I WILL ACT NOW. I WILL ACT NOW.” Og Mandino. The markets took those words to heart last week, with plenty of timely action ranging from telling economic reports to interesting announcements from the government, related to homebuyers. On the economic news front, the headlines were mixed. On the [...]

Mortgage Notes, March 30, 2009

16. March 2009

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March 30th, 2009 Mortgage Rates Hold Low Levels The Fed announcement last week about an expansion of the mortgage-backed securities (MBS) purchase program pushed mortgage rates down to the lowest levels in decades, according to the weekly surveys from the Mortgage Bankers Association (MBA) and Freddie Mac. This week, mortgage rates held the improvement, ending nearly unchanged [...]

Mortgage Commentary For The Week

14. February 2009

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February 13, 2009 Mortgage bond prices rose last week pushing interest rates lower. Stocks struggled throughout most of the week, which helped funnel some funds toward bonds. The Treasury auctions dominated trading along with headlines questioning the efficacy of continued bailout efforts. Fortunately the Fed continued to buy mortgage bonds with purchases of about $23.2 billion [...]