mortgage rates

5 Things You Must Know About Mortgages

Even after the housing crisis, many potential buyers still don't know even the most basic things about mortgages. Here are five essential facts about financing a home.

U.S. New-Home Sales Jump to Highest in 4.5 Years

U.S. new-home sales jumped in January from the previous month to the highest level since July 2008, a sign that the housing recovery is accelerating. New-home sales rose nearly 16 percent in January to a seasonally adjusted annual rate of 437,000, the largest percentage increase in nearly 20 years.

Late-Payment Rate on U.S. Mortgages Hits 4-Year Low

Homeowners who took on mortgages well after the housing bubble burst are doing a better job in keeping up with payments, a trend that has helped push the national rate of late payments on home loans to the lowest level in four years.

A Look at Back at Bank Scandals Since the Financial Crisis

Even before the LIBOR scandal hit, the financial industry's image was already badly tarnished by its leading role in causing the global financial crisis and recession. Here's a look at some of the low points for banking and bankers since the start of the financial crisis.

Year-End Review: Simple Ways to Cut Your Budget Now

If a fiscal cliff deal isn't reached soon, we'll all wake up on Jan. 1 with higher taxes and lower government spending. One way or another, you'll likely have a bit less cash to spend, so the next few weeks would be a good time to figure out where you can cut your spending to compensate.

Home Prices Rise in October by 6.3%, the Most in 6 Years

U.S. home prices rose 6.3 percent in October compared with a year ago, the largest yearly gain since July 2006. The jump adds to signs of a comeback in the housing market. But month-over-month, prices fell 0.2 percent in October from September, reflecting the end of the summer home-buying season.

The Downside of Credit Unions

Credit union membership is at an all-time high, thanks to our rising disillusionment with traditional banks. Banks, after all, are run by executives aiming to enrich stockholders, while credit unions are owned by, and run for the benefit of, their members. But that doesn't mean credit unions are right for everyone.

Fighting Off Foreclosure: One Woman's Three-Year Ordeal

When even a single home goes into foreclosure, the effects can be far reaching. In the case of Dee, when she faced foreclosure on her home in Prince George's County, Maryland, the potential hardship extended well beyond her immediate family.

Woman Who Lost Home Sues Big Banks Over LIBOR Manipulation

What can you do when a megabank takes your home? How about suing a dozen of them. Annie Bell Adams has filed suit against 12 of the world's biggest banks, alleging that their manipulation of the LIBOR rate caused her mortgage payments to be much higher than they otherwise would have been.

Are You Better Off Than You Were Four Years Ago?

It's the question every incumbent up for reelection has had to answer since challenger Ronald Reagan first posed it to President Jimmy Carter in 1980. But in this 2012 campaign, the answer is not so simple, for all the rhetoric on both sides.

Wall Street Watch Thursday: Hewlett-Packard Drops the Box

No one was expecting good news out of Hewlett-Packard's analyst day on Wednesday, but few imagined the leading PC maker would dramatically slash its near-term guidance. CEO Meg Whitman stunned investors, forecasting profitability to drop in the fiscal year that begins next month.

U.S. Home Sales Jump to Highest Level Since May 2010

U.S. sales of previously occupied homes jumped in August to the highest level in more than two years, adding momentum to the housing recovery. Sales rose 7.8 percent to a seasonally adjusted annual rate of 4.82 million, the National Association of Realtors said.

Wannabe Homeowners: Now Is the Time to Buy

If you've been putting off buying a house -- playing a game of chicken with long-term interest rates to see just how low they can go -- now might be the time to make your move: Mortgage rates and home prices are slowly heading back up.

Home Prices Rise in Nearly All Major U.S. Cities

Home prices rose in nearly all major U.S. cities in April, further evidence that the housing market is slowly improving. According to the Standard & Poor's/Case-Shiller home price index, the only top 20 metro area to see prices fall was Detroit.

Builders Start More Single-Family Homes; Permit Requests Surge

U.S. builders started work on more single-family homes in May and requested the most permits to build homes and apartments in three and a half years. The increase suggests the housing market is slowly recovering even as other areas of the economy have weakened.

6 Simple Reasons Why You Shouldn't Buy a Home

Houses are cheap. Interest rates are low. And the economy is improving. Even Warren Buffett says that housing might be the best investment today. So should you run out and buy a home? Not necessarily.

Fixed Mortgage Rates Hover Near Lows for 6th Week

The average rate on the 30-year fixed mortgage hovered above its record low for a sixth straight week. But the super-low rates aren't providing a lift to the struggling housing market. Rates have been below 5 percent for all but two weeks this year. Yet this year could be the worst for home sales in 14 years.

Women Don't Shop Enough -- for Their Mortgages

There's a surprising new finding that says women get lousier mortgage rates than men, but not because of gender discrimination. It's because instead of shopping around, they rely on friends' recommendations.

Obama's Refinance Plan Explained

The Obama administration is revamping a program that's designed to let more homeowners refinance their mortgages even if they don't have any equity. This isn't a new program, but instead attempts to turbo-charge an existing federal initiative called the Home Affordable Refinance Program. Here's a look at some frequently asked questions.

No Low-Rate Refis for Underwater Homeowners

Today's record-low mortgage rates are out of reach for millions of U.S. homeowners who would benefit from them most. These "underwater" borrowers have virtually no shot at refinancing. Their plight is a drag on the housing market and the broader economy.