Interest rates for 30-year fixed rates reached 4.01% last week per FreddieMac.  The 15-year rate reached a record low3.28%.  This news came after the Federal Reserve announced it would purchase 400 billion of treasury bonds and reinvest in agency mortgage backed securities! It will be interesting to see if the low rates will impact the […]

Lenders are having much more success in modifying loans for homeowners when they are forced on them. In the State of Connecticut 9,400 homeowners who joined in the modification program thru January 31, almost 80% avoided foreclosure and more than half of them received modifications! Only some states force lenders into the modification process. California […]