Tagged : borrowers

Found 4 blog entries tagged as "borrowers".

interest__max5128_450Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 4.03 percent, up from 3.98 percent at this same time last week.

The 30-year fixed mortgage rate steadily increased last week, spiking to 4.26 percent on Friday before declining to the current rate over the weekend.

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A growing number of mortgage borrowers are keeping their heads above water, according to a report from RealtyTrac.

The company reported Thursday that 9.3 million properties, or 19% of all homes with mortgages, were "deeply underwater" in December, meaning borrowers owed at least 25% more on their mortgage than the home was worth. That's down significantly from 26% of all homes with mortgages, or 10.9 million properties, last January, RealtyTrac reported.

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interest__max5128_450money.cnn.com - The rate for a 30-year, fixed loan fell to 4.32% from 4.5%, according to a weekly survey from Freddie Mac.

While that represents only a small savings for borrowers - $21 a month on a $200,000 balance - it's still good news for the housing market. Mortgage rates have been moving higher in the last few months, which analysts feared could put the brakes on the real estate recovery.

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NEW YORK (CNNMoney) -- The $26 billion foreclosure settlement has finally been given the green light, making it possible for roughly two million of the nation's hardest hit borrowers to see a significant reduction in their mortgage payments.

Agreed to between the nation's five largest banks and attorneys general from 49 states and the District of Columbia, the deal settles charges of foreclosure processing abuses dating back to 2008.

Under the settlement, which was approved by a federal judge on Thursday, the banks will reduce the principal on loans held by underwater homeowners, refinance some mortgages to today's low interest rates and compensate those who lost their homes due to improper foreclosure practices.

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