US home foreclosures doubled last month from a year ago and the nation’s biggest mortgage lender said late payments rose, suggesting that the mortgage crisis is not abating.
The number of foreclosures jumped to 223,538 in September, 99 per cent higher than the number last year, though down 8 per cent from August, according to RealtyTrac, […]

For a decade, credit-challenged homebuyers have used a regulatory loophole that lets them get Federal Housing Administration mortgages without putting their own money down, while at the same time avoiding costly subprime loans. About 7,000 buyers per month were exploiting the loophole, and now the feds are squeezing it shut.
The new policy means that prospective […]

Employment numbers show economic strength, rates move up: economist
The 30-year fixed-rate mortgage averaged 6.40%, up from last week’s 6.37% average, according to Freddie Mac’s weekly survey. The mortgage averaged 6.37% a year ago.
“The economy added 110,000 new jobs last […]