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A Rush Into Refinancing as Mortgage Rates Fall - The Ledger
Last week, the Federal Reserve announced that it would buy $500 billion in mortgage-backed securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae. Mortgage rates immediately dropped, and that led to a surge in mortgage refinancing activity ...

Four Things to Know Before You Refinance Your Mortgage - CNBC
The Federal Reserve's decision to buy up mortgaged-backed securities caused mortgage rates to fall and created new opportunities. Should you refinance your mortgage now? Before you rush to refi, take a few minutes to determine if it's the right move ...

Fed Aid Sets Off a Rush to Refinance - Wall Street Journal
The Federal Reserve's attempt to stabilize the housing market set off a chain reaction across the U.S. on Tuesday, dropping interest rates and quickly spurring a burst of refinancing activity by borrowers eager to lower their mortgage costs. Some ...

Mortgage Refinance Applications Soar As Rates Fall - Wall Street Journal
NEW YORK (Dow Jones)--Applications to refinance mortgages soared last week as interest rates dipped by almost 1 percentage point after the Federal Reserve announced that it would purchase billions in mortgage related debt. The Mortgage Bankers ...

India Extends Refinance Facility for Banks to June 30 (Update1) - Bloomberg
Nov. 28 (Bloomberg) -- India’s central bank today extended the refinance facility for banks to June 30, 2009, to increase liquidity in the banking system, the Reserve Bank of India said in a statement e-mailed from Mumbai. The central bank also ...

Fed chief pleads for housing aid - Richmond Times-Dispatch
Federal Reserve Chairman Ben Bernanke pleaded yesterday for more government action to relieve the foreclosure crisis and break a vicious cycle in which the housing meltdown is plunging the country deeper into recession. Beaten-down shoppers ...

Mortgage rates drop sharply - WABC
WASHINGTON -- Rates on 30-year mortgages plunged this week to the lowest level since January after the government launched a sweeping new effort to aid the U.S. housing market. Mortgage finance giant Freddie Mac reported Thursday that average rates ...

RBI extends scope of liquidity measures - Reuters India
MUMBAI (Reuters) - The Reserve Bank of India (RBI) said on Friday it will extend a special refinance facility for banks until June 30, 2009, and will also make available concessional credit to exporters for a longer period of time. Following are ...

Fed chief: Keep foreclosures at bay - Boston Globe
WASHINGTON - Federal Reserve chairman Ben S. Bernanke yesterday urged using more taxpayer funds for new efforts to prevent home foreclosures, saying the private sector is incapable of coping with the crisis on its own. The Fed chief outlined four ...

New Fed program spurs interest - Orlando Business Journal
Central Florida lenders were barraged with calls last week from homeowners seeking mortgage refinancing information after the Federal Reserve Board committed $800 billion to shore up the housing sector. That’s because the Fed’s move caused fixed ...

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Today's Mortgage Terms starting with G

  • Good Faith Estimate: A written estimate of the closing costs the borrower will most likely have to pay based on common local practices. Under the Real Estate Settlement Procedures Act (RESPA), the lender is must provide this disclosure to the borrower within three days of receiving a loan application.

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