Cautious BofA heeds history
Remember the wise decision that Bank of America made in August 2001 in light of the decision it's making now.
Jobs report and mortgage rates
When policymakers and pundits talk about home affordability, they usually discuss mortgage interest rates and student loan debt. But the underlying problem is slow wage growth.
Send letter; cancel 3-year-old loan?
When a lender makes a paperwork error, is justice served by forcing the lender to cancel the loan three years later?
Will the last homeowner please turn out the lights?
The homeownership rate keeps sinking. Now it's at its lowest level since 1994.
Posted in Mortgages
Tagged Mortgages, real estate
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How those mysterious bonds work
Mortgage rates are influenced by bond prices, and when bond prices go up, yields and interest rates go down. But why? Here's a brief, simplified explanation.
Much ado about mortgages
A bunch of agencies are trying to expand the number of would-be homeowners who can qualify for mortgages. But I'm skeptical that these efforts will help many people.
Why not have loan inspectors?
I have an idea: Let's set up a network of mortgage inspectors.
Hard task of making things easier
In 10 months, it's going to be easier to shop for a mortgage. And those intervening 10 months aren't going to be easy at all for mortgage companies.
Yay for consumer-friendly forms
Beginning Aug. 1, 2015, the Good Faith Estimate and Truth in Lending statement will be replaced by one brand-new document called the Loan Estimate. The new disclosure is a big improvement.
Posted in Mortgages
Tagged consumer protection, Mortgages
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Bernanke rejected for mortgage refi
Former Fed Chairman Ben Bernanke recently admitted he was rejected for a refinance on his Washington, D.C., home. What does that say about the mortgage market?