federal reserve: FEDERAL REGULATION TARGET MORTGAGE BROKERAGE & ORIGINATION PRATICE FEES - 10/14/10 03:30 PM
Yield Spread Premiums Make Endangered Loan-Fee Species List by Broderick Perkins
Newly-approved federal regulations target a mortgage brokerage and origination practice that experts say contributed heavily to the mortgage meltdown and ultimately the greatest recession since the Great Depression.

Effective April 1, 2011, the Federal Reserve will prohibit loan originators and mortgage brokers from receiving compensation based on a borrower's interest rate or other loan terms.
That will save consumers thousands of dollars on a mortgage.
In the past, brokers and originators were compensated, in part, for steering borrowers to more expensive mortgages. The more costly the mortgage, the … (3 comments)

federal reserve: MORTGAGE RATES SINK To 4.19% - 10/14/10 08:38 AM

by The Associated Press
text size A A A October 14, 2010
Rates on 30-year mortgages fell this week to 4.19 percent, the lowest level in decades. They were pushed down by lower Treasury bond yields.
Investors are buying up Treasury bonds in anticipation of a move by the Federal Reserve designed to lower mortgage rates and yields on corporate debt.
As a result, the average rate for 30-year fixed loans dropped to the lowest level on records dating back to 1971, mortgage buyer Freddie Mac said Thursday. It's down from 4.27 percent the previous week. The last time rates … (2 comments)

federal reserve: Mortgage Rates Drop to a 38 year low - 03/27/09 05:28 PM
Fed Plans Spark Drop in 30-Year Rates The average interest on a 30-year mortgage fell to a 38-year low of 4.85 percent during the week ending March 27 from 4.98 percent the prior week, Freddie Mac reported. The decrease came on the heels of the Federal Reserve's announcement that it plans to purchase another $750 billion in mortgage-backed securities and up to $300 million in Treasuries. President Obama says refinancing is now possible for 40 percent of mortgages and encourages home owners to reap the benefits of the record-low rates.Source: Boston Globe (03/27/09)

 
(2 comments)

federal reserve: MORTGAGE RATES PLUNGE to RECORD LOWS - 12/19/08 05:12 AM
 Mortgage Rates Plunge to Record Lows
 
In response to the Federal Reserve's cut in the federal funds rate to near zero, Freddie Mac reports that the 30-year fixed mortgage rate fell to 5.17 percent during the week ended Dec. 18--down from 5.47 percent last week and the lowest since the survey's inception in 1971. Interest on 15-year fixed loans slipped to 4.92 percent from 5.20 percent. Meanwhile, the five-year hybrid adjustable mortgage rate dropped to 5.6 percent from 5.82 percent; and the one-year ARM dipped to 4.94 percent from 5.09 percent. A year ago, the 30-year fixed rate stood at … (1 comments)

 
Julie Staradumsky, CREN (Keller Williams Realty -  Atlantic Shore)

Julie Staradumsky

CREN

Northfield, NJ

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Keller Williams Realty - Atlantic Shore

Address: 200 Tilton Rd. , Suite #5, Northfield, NJ, 08225

Office: (609) 484-9890

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