Mortgage | refinancing

It happened again: mortgage rates hit new lows this week, according to Freddie Mac’s latest Primary Mortgage Market Survey (PMMS) released Thursday.Frank Nothaft, vice president and chief economist at Freddie Mac, attributes the decline in mortgage rates to the economy:”Most mortgage rates eased to all-time record lows this week as fourth quarter growth in the economy fell short of market    .. more …

The averagerateon the 30-year fixedmortgagefell this week to a record low, the ninth time that has happened in the last year. Even with the cheapestratesin history, the housing market remains depressed.Mortgagebuyer Freddie Mac said Thursday that therateon the 30-year loan dropped to 3.87 percent this week. That is below the previous record of 3.88 hit two weeks ago.The average on the 15-year    .. more …

LONDON (ShareCast) – - UK GDP contracts in the fourth quarter.- BoE unanimous in decision to maintain rates.- Mortgage approvals rise.In spite of a strong start, London’s FTSE 100 (Euronext: VFTSE.NX – news ) experienced a sharp decline in morning trade following some disappointing gross domestic product figures which came in worse than expected. Banks were leading the fall by lunchtime.The UK    .. more …

Bank of America said Thursday it made $2 billion in the last three months of last year, reversing a loss from a year earlier. For the year, the nation’s No. 2 bank made $1.4 billion. It lost $2.2 billion in 2010.Morgan Stanley narrows its losses New York investment bank Morgan Stanley posted a fourth-quarter loss of $275 million Thursday, a reversal from its gain of $600 million a year ago. The    .. more …

A roller coaster year for housing in McHenry County ended with the county selling more homes in 2011 than it has in four years.The Illinois Association of Realtors reported Friday that McHenry County registered 267 home sales in December, up 35.5 percent from the 197 sales made in December 2010.That pushed the county to 2,834 sales in 2011, up 5.6 percent from the 2,684 sales registered in 2010.    .. more …

BOSTON (CBS) – The nation’s financial industry will never be the same, but there are signs of recovery from the biggest bank in the country.Bank of America squeaked out $85 million in the black for 2011, barely making a profit.That signifies a big turnaround for the bank, which had lost $2.2 billion in 2010.Bank of America has been re-organizing from the top down, slimming down and focusing    .. more …

Mortgage rates have dipped as low as the temperatures but havedone little to heat up the home sales market.The average rate on a 30-year fixed mortgage this week fell to arecord low 3.88 percent, the eighth record in the past year astracked by mortgage buyer Freddie Mac. The average on the 15-yearfixed mortgage ticked up to 3.17 percent from 3.16 percent, whichwas also a record low. Records for    .. more …

The toxic-asset bonuses given tosenior Credit Suisse Group AG (CSGN) bankers at the depths of the 2008financial crisis are turning out to be almost as good as gold. Credit Suisse employees who got $5.05 billion of junk-gradeloans and commercial-mortgage-backed bonds in late 2008 as partof annual bonuses have reaped gains of 75 percent on the payoutssince the end of that year through Nov. 30,    .. more …

NEW YORK, Jan. 19, 2012 /PRNewswire/ –Mortgage rates were little changed this week, with the average 30-year fixed mortgage rate holding at the record low of 4.18 percent for the third consecutive week, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.35 discount and origination points.(Logo: )To see mortgage rates in your area, go to .The    .. more …

TORONTO , Jan. 16, 2012 /CNW/ – CIBC (TSX: CM.TO – News ); (NYSE: CM.TO – News ) today announced the following special mortgage rate offers, effective January 17 th, 2012:4-year Fixed-Rate Mortgage2.99 per cent7-year Fixed Rate Mortgage3.99 per centThese offers are in addition to the competitive mortgage offers across CIBC’s full mortgage product lineup.A CIBC poll released December 28 th 2011    .. more …