Latest News in Mortgages and Home Loans- May 12, 2009

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Banks Want to Pay Back TARP; Mortgage Rates Up
One of the bigger pieces of financial news this morning is that some of the banks want to pay back TARP. There have been some murmurs from banks about getting approval to pay back TARP money, but solid plans and positioning have been on hold as bank stress test results were analyzed. Now, since [...]

Home Mortgage: How Much Can You Afford?
With the recession on, and home values low, people realize that now is a good time to buy a home. Mortgage rates are low, and many homes can be had for good prices. It makes sense to get a good deal while you can. But it is essential that you do not make the mistakes [...]

Tax Deductions for Refinancing
There is a great deal of excitement over the home buyer tax credit in the recently passed economic stimulus bill. However, many people are wondering if there are any benefits for those planning to refinance their homes. Sure, most people know about the interest rate tax deduction, but there are other tax deductions associated with [...]

Mortgage Lenders Tighten Standards Even as Demand Increases
Mortgage lenders are tightening their standards for those looking to buy a home. Demand for traditional home mortgage loans is increasing, but lenders aren’t always lending. Indeed, many mortgage lenders are tightening their standards further, concerned that they will end up with more defaults on their hands. MarketWatch reports on the concerns had by lenders [...]

30 Year Mortgage Rates Drop to Record Low (Again)
There are have been a number of mortgage rate predictions flying about lately, and it is interesting to see how rates have been playing out. Right now, 30 year mortgage rates have returned to record lows as pressure remains on the housing market. Right now, the average 30 year mortgage rate is at 4.78%. That’s [...]

Second Home Mortgage for 1%?
Image by Getty Images via Daylife
Back in February, the Obama Administration revealed a foreclosure prevention plan, called Making Home Affordable. This plan is aimed at helping home owners avoid foreclosure through a combination of lower mortgage interest rates, refinancing and loan modification. Incentives for mortgage lenders and borrowers were revealed. However, the plan was mostly [...]

Would You Like to Lend to Banks?
Image via CrunchBase
Peer to peer (P2P) lending has been around for a while, but it has really been gaining in popularity since the financial crisis. With the credit markets gummed up, many people are turning to regular people — with the help of such organizations as Prosper and Lending Club — to get financing. And [...]

Home Ownership at Levels Seen in 2000
As one might expect, the housing market crisis is resulting in a decreasing level of home ownership. Indeed, all of the foreclosures that have been happening are sending the level of home ownership to the levels seen in 2000. Calculated Risk has this great graph that illustrates the home ownership trend of recent years in [...]

Mortgage Backed Securities on the Rise Again
Image via Wikipedia
Mortgage backed securities are on the rise again. As more people refinance, taking advantage of the low mortgage interest rates, more securities based on mortgage are being sold. Indeed, Freddie Mac has issued (and bought) billions in mortgage backed securities in recent months. National Mortgage News Online reports on this trend:
Freddie Mac’s issuance [...]

New Credit Card Regulations Proposed

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