Rates and Resistance

  • Posted at 10:44, December 20, 2013
  • By Quidnunc Staff

Two originally posted yesterday:

  • In “Bank of America: Where Borrowers Couldn't Get a Break,” the new issue of Bloomberg BusinessWeek magazine talks to employees at Urban Lending Solutions in Broomfield, Colo., a firm accused of hindering borrowers seeing to work out their mortgage loan problems with the company that hired it to process its Home Affordable Modification Program, Bank of America.   It’s a shorter version of the investigative report that also appears online that QuidnuncRE linked to Monday, HERE
  • Bankrate issued its weekly mortgage rates report yesterday, and it showed a slight increase in the benchmark 30-year fixed mortgage rate 4.58%, up from 4.55%--and up from 3.52% since May 1--according to Bankrate.com's weekly national survey. The rate carries an average of 0.38 discount and origination points. The average 15-year fixed mortgage also rose, to 3.63%, from 3.60%, while the jumbo 30-year fixed mortgage rate rose to 4.60%. Adjustable rate mortgages were mixed: the three-year ARM held at 3.28%, the five-year dipped to 3.33% and the 7-year rose to 3.71%.The Bankrate report is HERE.
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