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Mortgage Rates Hold Steady While Homes Sales Tumble
A week filled with better than expected economic data kept mortgage rates fairly steady. Home sales continue their downward trend as lenders tighten up credit standards for homebuyers.

"Keys To Recovery"
Fannie Mae plans to announce a new series of initiatives called “Keys To Recovery” on a conference call with investors and analyst. The new effort consists of providing solutions to help homeowners avoid foreclosure, and helping 1st time homebuyers with purchasing a home.

Mortgage Bankers Association Agenda To Stabilize Housing Market
The MBA is calling on Congress and the Administration to take further action to help stabilize the housing market, help distressed borrowers and ensure that history does not repeat itself. Although programs such as Hope Now have helped over one million people, there is still work to do.

Mortgage Rate Forecast For May 2008
With the Fed cutting interest rates by a quarter of a percent to end April, mortgage rates in May should get off to their strongest hold at the beginning of the month. The real estate industry is still very volatile which could send mortgage rates off to the races.

Fed Rate Cut – Mortgage Rate Reaction
On Wednesday the Federal Open Market Committee cut the federal funds rate by a quarter of a percent, bringing the key rate at which banks borrow from one another to 2 percent. However, inflation expectations have risen over the past couple of months which may start to drive mortgage rates upward.

Upcoming Fed Rate Cut
Inflation will play a major role in how the Federal Reserve decides how to handle the next rate cut and following rate cuts.

Mortgage Rates Rising, Mortgage Applications Decreasing, Home Values Level Off
Mortgage rates begin an upward march as mortgage applications for refinancing a home purchase both show declines. Last month home values showed a positive sign as the average median price actually rose.

Bank of America And Citigroup Loosing In Mortgage Lending
Bank of America and Citigroup both posted their 1st quarter results that show further indication that what started as a subprime mortgage lending problem has reached further into the US economy.

Bank Of America Hit By Mortgage Meltdown
Bank of America posted a 77 percent loss in its quarterly profit for the first quarter of 2008 which may send shock waves through the mortgage and credit industries. The new trend shows that US homeowners with second mortgages, homebuilders and small business owners are showing an alarming trend in defaulting on their mortgages, which lead BoA to set aside $3.8 billion.

Mortgage Rates Hold Steady As A Rate Cut Is Believed To Be Coming
Fixed rate mortgages averages held pretty steady throughout the week while the adjustable rate mortgage average declined. Short term mortgage rates may continue to slide downward as speculation of a Fed rate cut at the end of the month.

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