mortgage bankers association

Borrowers looking to capitalize on historically low interest rates to refinance or buy homes are discovering those rates are often out of reach -- and not necessarily because of their credit scores. Understaffed banks, rigid rules, and low-ball appraisals are costing customers the best deals.

It doesn't look like the housing market will come roaring back anytime soon, but with historically low interest rates, now's a good time to buy. The hard part is that banks in the post-bubble era are notoriously stingy with that cheap money, so figuring out how to get a smile out of a mortgage lender is task No. 1.

A recent survey found that around three-quarters of home owners and two-thirds of renters said the mortgage interest deduction (MID) is important to them. Of course, the survey was conducted by the pro-homeowner National Association of Realtors.

The number of applications for mortgages to buy homes rose to its highest level in six months last week. The Mortgage Bankers Association Purchase Index rose 14.4% from a week earlier, the association said. No adjustment was made for Veteran's Day, which occurred in the previous week. The index...

The Congressional Oversight Panel created in the wake of TARP to oversee and monitor the Treasury Department has issued a devastatingly clear report about the mortgage mess and its legal implications, which are ugly.

Demand for mortgage loans rose last week, driven by low interest rates. The Mortgage Bankers Association said its Market Composite Index rose 5.8% on a seasonally adjusted basis from a week earlier. The index measures the volume of applications for loans. Demand for loans for new homes gained...

The Mortgage Bankers Association said they tumbled 10.5% last week, the biggest fall-off in four months. While the foreclosure crisis may be playing a role in the decline, rising interest rates are also partly to blame.

The crisis could hit bank earnings in several ways, not all of them directly related to the foreclosure problem. One big risk is "putbacks," the faulty loans banks could be forced to repurchase. JPMorgan puts that cost at up to $120 billion.

Even as the impact of the ongoing debacle slowly unfolds, it's not too early to tote up a list of 10 far-reaching developments that have already happened. None bodes well for the U.S. housing market, banks or economy.

Mortgage applications fell 1.4% in the week ending Sept. 17, dragged down by a decline in the number of applications for loans to purchase houses. Applications for loans to purchase a home dropped 3.3% from a week earlier on a seasonally adjusted basis, The Mortgage Bankers Association said....