Mortgage, Refinance | featured news

Obama is expected to announce a fresh bid to revive the housing market—despite likely congressional opposition—by letting millions of homeowners refinance their mortgages.

Fixed mortgage rates fell once again to a record low, offering a great opportunity for those who can afford to buy or refinance homes. But few are able to take advantage of the historic rates.

How big a whack did your credit score take during the grim years of economic distress following the housing bust? Was it 20 points, 50 points, 100 points — or maybe no drop at all? These are key questions affecting millions of potential home buyers who hope to qualify for mortgages as well as current owners looking to refinance. New research from a major credit-risk evaluation company suggests that the drop in huge numbers of Americans’ scores was dramatic.

A leading housing regulator on Monday announced changes to a government refinancing program that could help up to one million homeowners whose homes are worth less than their mortgage.

Talks between states and top banks over mortgage abuses are nearing agreement on a major sticking point that has bogged down settlement negotiations for more than a year.

Applications for home mortgages surged last week, racking up the biggest increase in four months on a flood of refinancing demand as interest rates remained low, an industry group said on Wednesday.

A six-month decline in mortgage rates has spurred a surge in refinancing while doing little to increase property demand as US unemployment hovers near 10 percent.