Archive for the ‘Moving’ tag
Central Bank Watch: Banks in Wait-and-See Mode, Some Moves Expected by Year End
Another round of major world central bank decisions
are out of the way, yet rates are still where they were at prior to the
decisions. However, many economists expect at least some of the banks to
start moving on rates before the end of the year.
Fed is Moving into Consumer Protection Role on Mortgages
Speaking at the Federal Reserve open meeting on mortgage
rules, Federal Reserve Chairman Ben Bernanke said the new rules
will be aimed at protecting consumers from deceptive practices.
Bernanke said that the new rules would apply to all mortgage lenders,
as delinquencies and foreclosures continue to grow rapidly. Bernanke
pointed to deceptive practices as the key reason for the inappropriately
high cost of loans.
The new rules ban prepayment penalties on mortgage
loans whose…
Mortgage Rates Mark Time Waiting for Federal Action
Mortgage rates continued to set record 2008 levels
with long term rates moving up slightly during the week ended June 26,
and short term rates increasing modestly but in double digits.
Mortgage applications increased 3.6 percent on a seasonally adjusted
basis and…