Finance & Mortgage

US Mortgage Refinance Applications Up, Purchase Applications Down Last Week

Mortgage applications increased 6.9 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending April 13, 2012.

Mortgage Rates Slip, Tie Record Lows: Bankrate

Mortgage rates moved into record low territory again this week, with the average rate on the benchmark 30-year fixed mortgage rate settling at 4.10 percent, a level last seen in February, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.42 discount and origination points.

Freddie Mac Sets New Timelines for Short Sales to Help Add Transparency, Expedite Decisions

In an effort to make the short sale process more transparent, Freddie Mac (OTC: FMCC) is updating its timelines and also requiring servicers to provide weekly updates when decisions take more than 30 days after the receipt of a complete application for a short sale under the Obama Administration's Home Affordable Foreclosure Alternative (HAFA) initiative or Freddie Mac's traditional requirements. All decisions must be made within 60-day