| Mortgage volume spikes on refinancing
WASHINGTON (AP) - Mortgage application volume rose 48.1 percent during the week ending March 21 compared with the previous week, according to the trade group Mortgage Bankers Association's weekly survey. The MBA's application index increased to 965.9 from 652 the previous week. Volume surged on an 82.2 percent increase in refinance application volume during the week. Purchase volume increased 10.6 percent. Refinance applications accounted for 62 percent of all applications, after dipping below 50 percent last week for the first time all year. The refinance share of mortgage activity is at its highest since the week ending Feb. 8 when it accounted for 67.4 percent of mortgage activity. The index peaked at 1,856.7 during the week ending May 30, 2003, at the height of the housing boom.
Americas Watchdog Demands Banks & Financial Institutions Refund Small Investors Money Placed In Auction Rate Preferred ...
Americas Watchdog has uncovered a gigantic pattern of what appears to be possible fraud, with respect to US banks or global financial service companies selling US citizens an investment device called an "auction rate preferred share" (ARPS). The possible issue with fraud has to do with the banks or financial institutions telling investors that an auction rate preferred share was just like a CD & investors could get their money back in 7 business days. Now investors are being told there is no answer as to when they will get their money back. According to Americas Watchdog, "we are talking about thousands of US citizens that trusted a bank or financial instituion with their life savings & now they cannot get their money out. Why not"? .
How the candidates think we can save housing
The housing crisis took center stage in the presidential race this week. For good reason: Recent data show that nearly a million American households are at risk of foreclosure, 71% more than a year ago. Nearly 6% of all borrowers are past due on their mortgages. .
|
