Articles About Mortgage

The Wells Fargo wagon delivered good news to Wall Street when the San Francisco-based bank announced a record first-quarter profit of approximately $3 billion, or 55 percent per common share.  Contrast these numbers with the fourth quarter of 2008, when Wells Fargo reported a $2.6 billion loss. The news sent the Dow Jones Industrial Average […]

The residential mortgage market is experiencing an unexpected – but welcome — boom, a result of interest rates for 30-year fixed-rate loans falling to 5.47 percent from 5.99 percent.  According to the Mortgage Bankers Association’s (MBA) weekly review, the average rate for a 15-year fixed-rate loan – popular when refinancing – fell to 5.13 percent […]

The surge in the construction-loan delinquency rate – both residential and commercial – suggests that lenders will remain reluctant to make loans for new construction. Developers usually finance projects through short-term construction loans.  Once the project has stabilized, the developer seeks long-term debt.  With the current economic downturn, developers are finding it difficult to obtain […]