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RISMEDIA, October 2, 2009—The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased slightly from last week to 5.02%, down from 5.04% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com. Rates for 15-year fixed mortgages fell …

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News Sources wrote an interesting post today on
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RISMEDIA, October 2, 2009—The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased slightly from last week to 5.02%, down from 5.04% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by real estate website Zillow.com. Rates for 15-year fixed mortgages fell to 4.42% from 4.45%, and 5-1 adjustable rate mortgages fell to 3.94%, down from 4.00% the week prior. The volume of mortgage requests fell very slightly last we

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News Sources wrote an interesting post today on
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Scott Conroy pays the mortgage every month on his one-bedroom condominium in San Diego, even though it’s worth 33 percent less than what he owes and it may take more than a decade to break even. Homeowners like Conroy who can afford their monthly payments are weighing whether to sell and pay the difference, stick it out until housing prices recover, or walk away. In the U.S., 26 percent of borrowers owe more than their home is worth, said Karen Weaver, global head of securitization research fo

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Real estate markets have been widely coveted for considerably high rates of return, creating one of the best investment mechanisms today. However, the extremely high rates of mortgage foreclosure has put the mortgage and real estate markets into the most severe crisis in recorded history. With reports of mortgage defaults reaching such a high level, up 81% over 2007, and 215% over 2006, we should at least take a closer look at how borrowers have gotten themselves into such trouble. For the

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News Sources wrote an interesting post today on
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All and sundry report on a new Obama Administration proposal to provide $35 billion in emergency funds to state and local housing agencies in order to subsidize new mortgages. The money — $20 billion in purchases of bonds issued by state housing finance authorities (HFAs), and $15 billion in as-needed followup funding for the HFAs — is designed to get states back on track to subsizing more than 100,000 mortgages per year. Most HFAs have closed their doors to new borrowers since the credit

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