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Lending picks up at big banks

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http://seattletimes.nwsource.com/html/businesstechnology/2016532769_earnings18.html

Despite all the bleak economic news, a funny thing has been happening in the financial industry: The banks have quietly turned on the lending spigot.

Loan growth is still modest and weighted toward the strongest borrowers. But after several quarters of flat or plunging loan balances, several of the nation’s biggest banks are reporting increases.

On Monday, Citigroup officials said the bank recorded loan growth, compared with a year ago, in almost every one of its businesses during the third quarter, and in almost every corner of the globe. Its profit in the third quarter rose 74 percent.

Wells Fargo, which saw its third-quarter profit jump 21 percent, said new loan commitments to small businesses rose 8 percent, while lending to bigger companies has been growing for 14 months in a row.

But the new lending numbers suggest that while the economy remains extremely fragile, the confidence of consumers and businesses may be more resilient than many experts had believed.

Most banks have ratcheted up the underwriting criteria so that fewer new borrowers qualify for a loan, especially in the housing markets hit hard by the recession. As existing loans end, they are less likely to replace them with a new one.

But there has been a modest increase in lending elsewhere. Overall, corporate lending has rebounded 7.2 percent after bottoming out in October 2010.

Some of the growth was due to foreign lenders ceding some ground to Wells and other large U.S. banks, rather than an overall increase in demand.

Even its mortgage business, which reported more than a 50 percent jump in home-loan applications, owed some of the lending growth to consumers refinancing existing loans — not people obtaining new ones.

Rate on 30-year mortgage falls to record 4.01%

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Fixed mortgage rates have fallen to historic new lows for a fourth straight week and are likely to fall further.

The average on a 30-year fixed mortgage fell to 4.01 percent from 4.09 percent this week, Freddie Mac said Thursday. That’s the lowest rate since the mortgage buyer began keeping records in 1971. The last time long-term rates were lower was in 1951, when most long-term home loans lasted just 20 or 25 years.

The average on a 15-year fixed mortgage, a popular refinancing option, ticked down to 3.28 percent. Economists say that’s the lowest rate ever for the loan.

固定利率连续两周创造新低

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固定利率连续第二周刷新最低纪录,30年固定利率跌至4.09%,15年固定利率跌至3.30%。

详细历史记录请参看:Rates History

固定利率再创新低!

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30年、15年固定利率本周再次双双创造新的历史记录。30年从上周的3.22%跌到了3.12%,15年则跌到了3.33%。

但是很多美国人却享受不到低利率的好处,大约有1/3的房主的房屋净值是0,甚至是资不抵债。

虽然利率在低点徘徊,但贷款申请却持续下滑

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http://finance.yahoo.com/news/Mortgage-demand-slides-rb-66343115.html?x=0&sec=topStories&pos=8&asset=&ccode=

根据Mortgage Bankers Association星期三的季节调整后的数据显示,上周的贷款申请连续下跌了三周,幅度达4.9%,其中重贷下跌了6.3%,而新贷则略为攀升0.2%。重贷的数量只有去年同期的35%,显示很多客户在去年就已经做过重贷了。

Reports: US to sue big banks over risky mortgages

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http://seattletimes.nwsource.com/html/businesstechnology/2016086768_apusbigbankslawsuit.html

The U.S. government is planning to sue some of the country’s largest banks over mortgage-backed securities they sold that lost value in the housing market collapse, according to published reports Friday.

The reports say the government would seek to be compensated for billions of dollars in losses. The government says the banks misrepresented the quality of the mortgage securities.

The New York Times and The Wall Street Journal say the Federal Housing Finance Agency, which oversees mortgage buyers Fannie Mae and Freddie Mac, could file a lawsuit within days.

The reports say securities that were backed by subprime and other risky loans but were deemed safe investments by ratings agencies are the ones at issue in this case.

The lawsuits come as a result of past claims from the FHFA. Last year, the FHFA issued 64 subpoenas to various entities seeking documents related to mortgage-backed securities in which the Fannie and Freddie had invested.

The agency said at the time the documents would enable it to determine whether the banks and other financial entities were liable for losses they had suffered from their investments. FHFA said it expected to recoup funds, which would be used to offset payments made by the U.S. Treasury to Fannie and Freddie.

Fannie Mae and Freddie Mac are viewed as critical to the mortgage market, because they buy mortgages loans and mortgage securities issued by the lenders.

MBA: 购房贷款申请跌到了15年来的最低点

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http://seattletimes.nwsource.com/html/businesstechnology/2015999484_apusmortgageapplications.html

据Mortgage Bankers Association星期三的数据显示,虽然上周的利率跌到了有史以来的最低点,但是显然对房地产市场并没有带来买气。上周的购房贷款申请跌到了15年以来的最低点。

7月份的新屋和成屋销售双双下滑。新屋销售已经接近1963年以来的最糟糕记录。成屋销售也是14年来的最低点。

房价也是遭到重挫,从2007年的峰值已经下跌了近1/3。

经济还是相当低靡。全美1千4百万人赋闲在家。7月份创造的新工作职位只有117,000。上个月的失业率还是高踞9.1%。

固定利率从低谷反弹

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30年固定利率上周达到了历史最低的4.15%,本周开始回升至4.22%。15年固定利率也从上周的历史最低点反弹,从3.36%升至3.44%。

贷款拖欠比例重新上升

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http://finance.yahoo.com/news/Number-of-troubled-mortgages-cnnm-1479272071.html?x=0&sec=topStories&pos=2&asset=&ccode=

据Mortgage Bankers Association (MBA)的跟踪调查显示,6月份截止的第二季度,贷款拖欠比例经季节调整后,比第一季度上升0.12%,达8.44%。未经季节调整的比例上升了0.32%,达8.11%。

虽然上升幅度不大,但是在过去的2年时间里,拖欠比例原本一直在稳定下降。这只能说明有些情况在恶化。

The MBA将拖欠时间分类成30天、60天、90天和90天以上。数据显示90天及其以上的拖欠比例一直在持续减少。这是一个利好的消息,因为这意味着越来越少的人会失去自己的房屋。

但是拖欠30天和60天的比例却在增加,这意味着更多的人暂时遇上了经济困境,比如说医疗费或刚刚被解雇。而这和当前的经济形势刚好吻合,因为领失业保险的人数在上升。

2007年以后签发的贷款则安全很多。数据显示,2005年到2007年间签发了30%的贷款,但是拖欠比例却高达65%。

30年固定利率改写历史最低纪录

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据Freddie Mac每周跟踪调查数据显示,30年固定利率达到了有史以来的最低点-4.15%,刷新了去年11月份创造的4.17%的最低纪录。

15年固定利率也同样创造了新的历史记录,3.36%。这已经是连续第三周刷新历史纪录。

30年固定利率正在跌近历史!

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根据Freddie Mac每周利率跟踪调查数据显示,本周的利率全面崩溃。15年和浮动利率在继续创造历史新纪录。15年从上周历史性的3.54%下跌到3.50%。

30年固定本周跌到4.32%,正在向去年创造的历史记录冲刺。去年的历史性记录是在11月中旬创造的,利率是4.17%。

利率一泄如注,屋主重贷争先恐后

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http://seattletimes.nwsource.com/html/businesstechnology/2015876209_mortgage11.html

随着30年利率跌近甚至低过4%,屋主正在争先恐后重新贷款。上周重新贷款的人数比前一周暴增30%.

号外:15年固定和5年浮动双双创造历史新低!!!

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本周所有利率都全面大幅下滑。根据Freddiemac每周平均利率统计, 30年固定创造了年度的新低点4.39%。15年固定利率和5年浮动利率双双创造了历史最低点。15年固定低达3.54%,5年浮动低达3.18%。

15年固定上一次创造的历史纪录是2011年11月11日,利率是3.57%。

历史数据请参看:Rates History

论证:现在的利率到底怎样低?

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http://blogs.forbes.com/moneybuilder/2011/08/01/how-low-are-current-mortgage-rates-3-convincing-answers/

现在您最常听到有关贷款的一句话就是:“目前的贷款利率处在历史的低位”。到底该不该认真对待这句话,您至少可从三个不同的层面来解读它:

  1. 现在的贷款利率几乎处在历史平均水平的一半。从70年代早期起,30年的固定利率平均在8.86%左右。现在的30年的固定利率是4.50%,正好处于8.86%的一半偏高,仅仅比历史低位的4.23%高出一点。
  2. 当前的贷款利率与通货膨胀率比较起来要低。历史上贷款利率刨掉通胀率后平均值为4.42%。以目前贷款利率为4.50%来计算,减掉去年的通货膨胀率3.6%,小于1%,不到历史平均数的1/4。
  3. 目前的15年固定贷款利率很低。从90年代早期起,15年的固定利率一直要比30年的固定利率低0.46%左右,最多不超过0.66%。现在却低过0.83%。所以现在的15年的固定利率处在特别罕见的低位上。

假如您想买房或做重贷,会有很多地方值得您考虑。但有一点您应该非常确定:现在的贷款利率给予了您罕有的机会做出任何决定。

Video: Larger mortgages will cost more

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http://www.bankrate.com/finance/video/larger-mortgages-will-cost-more.aspx

King,Pierce 及Snohomish county的Jumbo Loan的新起点

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从10月1日起,King , Pierce 及Snohomish county的Jumbo Loan的起点下调至$506,000,San Juan调到$483,000,其他的counties调至$417,000。这意味着所有贷款额超过这个数字的将被视为Jumbo Loan来处理。Jumbo Loan的利率比Conforming Loan的利率要高。

截止9月30日,这个数字仍然是$567,500。

相关文章:从10月1日开始,Bigger Mortgages将支出更多

本周固定利率几乎没有变化

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本周的30年利率从上周的4.52%略微上涨到4.55%,比年度最低点4.49%稍稍高了一点。

15年利率本周是3.66%,只比年度最低的3.65%高出了0.01%。

详细历史数据请看:http://lowerloan.net/?page_id=26

大宅好卖,大额贷款又回来了

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http://finance.yahoo.com/news/Big-Mortgages-Are-wallstreet-1344265843.html?x=0&sec=topStories&pos=8&asset=&ccode=

Low interest rates are driving high-end home buyers to supersized mortgages at a pace unseen since the housing boom.

So called jumbo loans—generally those bigger than $417,000—are a better bargain now than they have been in years. The average rate on a 30-year jumbo mortgage is 5.15%, down from 6.41% two years ago. That means the monthly payment on a 30-year $600,000 home loan is now about $3,280, some $480 less than the cost of the same loan two years ago, for an annual savings of nearly $5,800.

Jumbo loans cheap relative to historical rates. The difference between the rates on a jumbo mortgage and a conforming loan is just 0.43 percentage point, the narrowest spread since 2007.

Jumbo loans accounted for almost one in every six new mortgages, including new-home purchases and refinances, in the first quarter of 2011, according to Inside Mortgage Finance.

拖欠贷款的人数持续减少

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与目前低麋的房屋市场及蹒跚而行的经济复苏相反的是:不管是1st mortgage 还是 2nd mortgage的拖欠贷款率持续下降。1st mortgages从2009年5月高峰期时的5.67%降到今年6月的2.09%; 2nd mortgages则从2个月前高峰期时的4.66% 下降到1.42%。这种下滑率在美国各地有所不同。那些受房地产泡沫打击大的城市(例如 Miami), 拖欠贷款率持续高位不下。

即使目前下滑的拖欠贷款率仍高于2004-2006 的水平. 但仍是房屋市场好转的一个信号。

本周利率继续在年度最低点徘徊

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根据Freddiemac的全国每周平均利率统计,与上周相比,30年固定利率上涨了0.1%,达到4.52%,只比年度最低的4.49%多出了0.03%。15年利率也从上周的3.65%略微上涨到3.66%。上周的3.65%创造了年度最低的纪录,与历史最低纪录3.57%已经非常接近。

具体历史数据,请参照:http://lowerloan.net/?page_id=26

15年固定利率创造年度最低点,直逼历史最低

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本周利率实现大反转,从一周前的向上涨迅速变成了向下落。尤其是15年的固定利率,更是创造出了2011年度最低利率3.65%(根据Freddiemac的全国每周平均利率统计),已经相当接近2010年的历史最低利率3.57%。

详细历史数据请看:http://lowerloan.net/?page_id=26

从10月1日开始,Bigger Mortgages将支出更多

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http://www.bankrate.com/finance/mortgages/bigger-mortgages-will-cost-more-1.aspx

美国房屋贷款中,目前普遍流行的Super Conforming Loan(又称为Jumbo Conforming Loan 或者 High-cost area Conforming Loan)的loan limits将从10月1日起调低。因为眼下这种贷款的Loan limits将在今年的9月30日到期。为了避免较高的支出及较少的产品选择,建议借贷人,不管是做新贷款还是做Refinance,应该在8月中就开始申请贷款,以确保有充足的时间在10月1日之前申请下贷款。

调低loan limits意味着有larger mortgage - jumbo loan的借贷人将会支出更多:不仅需要支付更多的头期款,而且相应的利息也比一般的高出大约 0.5%至 1%;同时,要qualify做larger mortgage的借贷人还要面对更加紧缩的银行guidelines。

目前的Super Conforming这种贷款的loan limits要高于两房Fannie/Freddie及FHA的Standard Conforming loan limits (贷款额<=$417,000) 。大西雅图地区(Seattle-Tacoma-Bellevue )的King, Pierce, Snohomish Counties目前的Super Conforming loan limit是<= $567,500。

新Conforming loan limits:

• 美国的大多数counties的conforming loan limits是$417,000

• 美国有206个high-cost housing的郡县loan limits 相对要高些。一些房价比较高的Counties的loan limits 将会从$729,750调低至$625,500或者更低,例如Los Angeles 及 New York City。其他的counties的loan limits也将会调低在$417,000 和 $625,500之间。Federal regulators目前还没有释出county-by-county的具体数字。

• 其结果,一些借贷人将不再符合Conforming loan,也许只好以larger mortgage – jumbo loan代替。

30年平均贷款利率升至4.60%

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根据Freddiemac的每周平均利率统计,经过长达一个月的停留在年度最低利率以后,本周的平均贷款利率结束了在低端的徘徊,

30年平均固定贷款利率直接从上周的4.51%飙升至4.60%。一个月以前的本年度最低平均利率是4.49%。

15年的平均利率也从上周的3.69%升至3.75%。

5年平均浮动利率从上周的3.22%升至3.30%。事实上,有些Lender可以做到2.xx%的浮动利率已有几个月的时间,不少Borrower做了Refinance把握住了这次的低浮动利率。

Rates history: http://lowerloan.net/?page_id=26

固定贷款利率继续停留在年度最低点附近

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根据Freddie Mac每周的跟踪调查数据显示,本周30年固定利率平均值是4.51%,与几周前达到的年度最低点4.49%相差不大。

详细的历史数据请到http://lowerloan.net/?page_id=26查询。

Mortgage fraud reports climb 31% in first quarter

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http://www.marketwatch.com/story/mortgage-fraud-reports-climb-31-in-first-quarter-2011-06-28?siteid=yhoof2

The number of mortgage loan fraud reports climbed 31% . A substantial majority of reports involved activities which occurred in 2006-2007.

The analysis found that California dominated the top mortgage fraud rankings. Miami dropped to the sixth most reported area after five years in the top two ranks.

Chase borrowers getting cash to complete short sales

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http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2011/06/chase_borrowers_getting_cash_t_1.html

The lender is giving borrowers behind on their mortgage payments $10,000 to $20,000 if they’ll agree to a short sale, which means they sell the home for less than they owe on the mortgage.

Most banks figure they’re doing homeowners a favor simply by agreeing to a short sale and forgiving the amount they owe. But in some cases, Chase borrowers are getting that and cash.

The program launched last fall, and a few South Florida real estate agents say their clients are getting offers.

Wells Fargo 向华盛顿州贷款困难户伸出援助之手

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http://kpbj.com/business_weekly/2011-06-27/wells_fargo_to_help_washington_customers_facing_mortgage_payment_challeng

Wells Fargo invites Washington homeowners to a free workshop for Wells Fargo Home Mortgage, Wells Fargo Financial, Wachovia Mortgage and Wells Fargo Home Equity customers facing financial hardships on July 7 and 8 at the Hyatt Regency Bellevue Ballroom, 900 Bellevue Way NE, Bellevue from 9 a.m. to 7 p.m. Walk-ins are welcome, but registration is strongly recommended in order to guarantee the ability to meet with home retention team members who will assist and work one-on-one with mortgage customers facing payment challenges. Borrowers may receive a decision on a loan modification, or other option, on site. Sign up by midnight, July 5, at www.wfhmevents.com/leadingthewayhome. For more information call (800) 405-8067.

Wells Fargo is making every effort to keep people in their homes. In the first quarter about 93 percent of Wells Fargo’s mortgage customers remained current on their loan payments. In the fourth quarter of 2010, the company’s combined delinquency and foreclosure rates were three-fourths that of the industry according to Inside Mortgage Finance.

As of April the company had 673,179 active trial and completed modifications, started since the beginning of 2009. Fewer than 2 percent of the loans secured by owner-occupied homes and serviced by Wells Fargo proceeded to a foreclosure sale in the last 12 months.

EHLP: 联邦政府帮助丢失工作的家庭度过贷款难关

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从本周开始到7月22日止,政府新出台了一个无息贷款项目 Emergency Homeowners’ Loan Program (EHLP), 旨在帮助那些丢了工作而且正在foreclosure边缘的家庭。联邦政府准备了10亿资金,准备帮助大约30,000个家庭。平均每个家庭能获得$35,000的无息贷款,具体贷款额视家庭的情况的不同而不同,最高额度是$50,000。

请注意,如果在收到这笔贷款以后的5年内homeowner能够一直坚持支付银行的mortgage,政府将会一笔勾销这笔EHLP贷款!也就是说,你拿到的将是free money。

申请条件包括:

  • 丢了工作
  • 收入下降至少15%
  • 到June 1, 2011为止,至少有3个月停止交付mortgage payments,已经处在foreclosure的边缘
  • 到明年情况会有所好转,有可能按月支付全额的mortgage payments
  • 收入小于当地平均值的120%

To learn more about the program go to www.FindEHLP.org or call 855-346-3345

固定贷款利率持续在年度最低点徘徊

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http://finance.yahoo.com/news/Fixed-mortgage-rates-flat-apf-826635177.html?x=0

WASHINGTON (AP) — Fixed mortgage rates were mostly unchanged this week, hovering near yearly lows.

The average rate on the 30-year loan held steady at 4.50% , Freddie Mac said Thursday. It hit 4.49% two weeks ago, the lowest level this year. The average rate on the 15-year fixed mortgage, popular for refinancing, inched up to 3.69%. Last week it reached a yearly low of 3.67%.

To calculate average mortgage rates, Freddie Mac collects rates from lenders across the country on Monday through Wednesday of each week. Rates often fluctuate significantly, even within a single day.

Paying Off Your Mortgage Early

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http://www.nytimes.com/2011/06/19/realestate/paying-off-your-mortgage-early-mortgages.html

About a third of American homeowners pay off their mortgage early, according to the Federal Reserve.

Assuming you have the cash — perhaps in a savings account or certificate of deposit earning less than 1 percent interest — should you pay off your mortgage early? It’s a question that has both financial and psychological components. There’s a big psychological benefit for some people who just want to pay off their mortgage. Many conservative people feel more comfortable when they pay off their mortgage and it makes them feel their cost of living is lower.

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