Mortgage Rates News

Why are mortgage interest rates rising with such bad news about the economy?

If fed cut rates, would mortgage rates also go down? I know the mortgage rates is correlated to the 10 yrs note rate. But what about when u hear about fed cutting rates. Does that also affect the mortgage rates? I heard on the news that the fed will cut more rates because of a fear in recession. So if fed cut rates, would mortgage rates also go down? What else affect mortgage rates beside the things I mention above?

What caused the spike in mortgage interest rates starting May 29th of this year resulting in a 6 month high? Look at any trend chart, and you'll see a definate spike resulting in a nearly 3/4% increase in a week! Any idea what caused this? According to the morning news, yesterday's meeting by the fed decided to leave rates at an all time low. So... if the fed's rates are at an all time low, why are mortgage rates up? For that matter, what causes them to change?

Will mortgage rates go down again into the 4's in the next couple of weeks? The news that company's slowing on laying people off drove up mortgage rates. It seems like that was a needle of good news in a haystack of bad news.

what is the latest status of freezing ARM mortgage rates? I had heard a few weeks ago that the government was trying to implement a program to temporarily freeze adjusting mortgage rates to help home owners from potential foreclosures. Any news on that, and what is the process to apply for this freeze if applicable

Is it true? mortgage rates may fall a bit more to catch up with the Feds cuts? I saw a guy on a morning news show saying we can expect rates to go down and hold steady for a bit longer in the near future. The past few days rates have went up and down every 5 minutes. Will we see 5.2% on a 30 year fixed soon?

Can I sue my bank for not lowering my mortgage repayments in line with interest rate drops? Today the Bank Of England are deciding what to do with interest rates again. From news reports I hear that it may remain unchanged. However, in the last year there have been plenty of interest rate cuts. What concerns me, is that my mortgage provider is not cutting my mortgage rate by the same amount? Sometimes not at all. I am hearing more and more complaints about this, and think something should be done to prevent the banks using another way to rip us off. This is surely unlawful?

I heard that Federal lowered mortgage interest rate by 0.5% who are qualified for this benefit? I heard a news about Federal goverment lowered mortgage rate by 0.5%, is it true? Who is qualified for this benefit? We get our loan from a mortgage company.

How can we lower our mortgage rate? Hi, I'm wondering what are the options to lowering our mortgage rate. We currently have about a 300,000 dollar loan for our house. However, we have them on two different loans; they're at 10% and 7% interest. I was wondering what steps we can take to lower these rates. With the economy recessing, it's becoming harder and harder to pay these bills. I have heard in the news that we can have our mortgage rates lowered up to 5%? Please, if there's anything we can do, please inform us. Thanks for your help.

How will the Fed's rate cut affect my mortgage rate? I have been pre-approved for a mortgage through my credit union. The loan is a 5-year ARM for 80% of the value, and a 5-year Balloon for 17% of the value, and I am putting 3% down on the house. I am set to close 1 week from today. I have a loan commitment from the lender. I read in the news today that the FED is considering curring interest rates for the money that banks borrow, (which to my understanding is how they set thier interest rates??) by .25 to .50 %. If they do cut rates, would that affect a credit union? Should it lower the rate that I am being offered for my home loan? Would I be foolish to ask my lender (credit union) if my rate goes down? What are your thoughts? Thanks!

Why does Bank or England base rate effect my mortgage rate when the BOE does not lend money to banks? Following recent news, I discovered that the Bank of England lends money only as the "lender of last resort". If the BOE does not reguarly lend money to banks (i.e. my mortgage is not underwritten by BOE loans) why does BOE base rate have a direct effect on my mortgage?

Interest rate cut and mortgage? It looks like rates are down to 3.5% according to news papers. But, mortgage rates are still in the upper 5 or lower 6 %. What is the relation between this federal rate and mortgage rate. Also, do you think it is good time for people with great credit to buy a first home?. Is fixed rate the best way to go to lock up a good rate forever?

What affect with President Bush's freeze on mortgage rates have on the economy? http://news.yahoo.com/s/ap/20071206/ap_on_bi_ge/mortgage_crisis

Econ Question, housing prices/mortgage rates? I answered the question but i'm not sure if my answer is fully correct or if i need more information Here is the question: You read in the newspaper the following two pieces of information: First, mortgage rates rise from 6% to 8% and second, the expected rate of increase in housing prices rises from 4% to 8%. Do you think this news can affect people's decisions on buying houses? How and why? Answer: Im thinking that this news will negatively effect people to buy houses becuse houses will be more expensive and the cost of maintaining the house will also require more funds. However, I don't really know if it can positively effect people as well because since housing prices go up, there is a greater rate of return on the house (i'm not sure if I got this right). Can you tell me if I said something that was off or I can add something to my argument. Thanks xD

Federal Reserve's ability to affect availability of Mortgage Funds ? Based on what you have read in the textbook, heard on the news, researched on the internet or read in various publications, how much influence does the Fed have over long term mortgage rates? If yes, why and how and if no, why not and what does influence mortgage rates. Cite your sources.

Subprime mortgage rate freeze plan: what kind of rates are we talking about? From articles like this: http://news.yahoo.com/s/nm/20071202/bs_nm/usa_subprime_dc_3 I've been reading about plans involving lenders freezing rates for subprime mortgages at their "teaser" levels for up to seven years. What nobody is mentioning is what these teaser rates are, and what these rates will reset to. When I think of a teaser rate, I think of something around 4% that would reset to something in the neighborhood of 6%, but that's for a borrower with a 700+ credit score. Based on personal experience or understanding of this issue, can you provide examples of what the note rates on these mortgages currently are and what they may reset to?

Anyone know what the best 30 year mortgage rate is NOW? After the news this morning about the rate cut. I was in the "middle" of a refinance at 5.75%, but I haven't signed any paperwork yet. Of course, the bank (countrywide) is telling me that's still the lowest rate. I find it hard to believe and I'm telling them to hold off. They are trying to hold some $300 app fee over my head. Any ideas?

so what is the news getting at about fannie and freddie? is themedia trying to tell us that the mortgage rates are going down ? or sky rocketing , ? bad news seems

What's the latest news on Chris Dodd's mortgage? Did he or did he not receive a rate more favorable than what the market rates were, and has he given his HUD statement?

Was the purpose of the govt. bailout to make mortgage rates go UP?? Cuz that's what's happening...? I've heard multiple people talk about how fixing the financial crisis depends upon stabilizing the housing market. This bailout would appear to be doing the exact opposite. Your thoughts?? http://news.yahoo.com/s/time/20081017/us_time/thebankbailoutssideeffectrisingmortgagecosts I thought the point of the $750 billion was to keep this from happening...

Will mortgage rates go down enought to refi a Jumbo loan to a conforming loan? I keep seeing that the fed is cutting the interest rates, however the 30yr fixed rate seems to keep going up. I was hoping to refi my jumbo loan @ 6.125% down to a conforming loan with a better rate. Am I going to be able to find a rate low enough to justify a refi? I was excited about the change in limits on conforming loans, now it seems that the good news has gone out the window for me. The loan I am in now is a good one, 30yr fixed, however it is at the jumbo rate. I want to take advantage of the gov't raising the limits on conforming loans this year.

I currently have an adjustable rate mortgage loan and would like to set a fixed rate ? I have heard on the news that we can petition our lender for a fixed rate. They also gave a phone number to a place called, Homeowners Unity Foundation whom I talked to, and they say they charge $2500.00 to help you because they work with lawyers that help the process move faster. But they do not guarantee results. Can anyone give me some insight or suggestions?

Is it really possible to pay off my 30-year fixed rate mortgage in 5-7 years? I saw a so-called expert on a news broadcast this morning who said people in Australia and Europe have discovered a way to leverage their debt and finances in order to pay off their home mortgages at a faster rate without changing their monthly payments. How is this possible? It was quickly suggested that a Home Equity Line of Credit (HELOC) was the secret, but what does getting more debt have to do with eliminating debt?

Is the worldwide stockmarket crash good or bad news for me? Obviously lots of investors will have lost heavily over the last few days with the fall in worldwide stocks. I know it's a bit selfish but how will it affect ME? I have a safe job with little risk of redundancy, no savings or investments, a moderate sized variable rate mortgage, NHS pension and travel abroad frequently. Will things get cheaper or more expensive? What will happen to exchange rates? Will it push house prices up or down? I'm not looking for an economics lesson, just wondering what it means to the average person....

Conservatives, under the Federal Reserve, Mortgage rates have dropped sharply. Should we overthrow them? http://www.toolsofthetrade.net/industry-news.asp?sectionID=1519&articleID=912705 And now since they are buying more housing debt, sparks are declining. Should we completely overthrow them, and blame the American people for their own problems? What else is next? Where is your budget proposal? Why do you criticize when you don't have any ideas of your own? War on Demons - I am on my own computer. I gave an answer with a source, and you didn't even answer my question. How does this make ME the kid? It's blatant that you are just trolling, exept it's not a question, it's an answer! That's even worse. Bobbo - I respect your opinion. But, hybrid cars and bridges are part of the economy if you didn't know. Mrs. C - Okay the Democratic congress has been in for only 2 years, they got in in 2007. The Recession occurred in December 2007. And according to common sense, a Recession doesn't happen within 11 months. Not only that, deregulation caused irresponsible loans, not the reinvestment act. There is a difference. Mortgage rates haven't been down for years, JUST in 2008 the mortgage rates started slowly going down. Throughout the last 8 years, mortgage rates were high as hell. I was reading a graph created by one of our economists but I can't remember where I saw it. Mrs C, it is obvious you don't know what you are talking about. We now have a $10.5 trillion deficit to deal with, along with a failing economy, things started going down under Republican power, and you're going to blame the current administration, along with JUST the democratic congress? How silly is that? Dude, if you produce a hybrid car, do you know how many people you have to hire to create an assembly line? Do you know how building bridges and cars works? It takes more than 1 person to do this. And this isn't even the only thing we are doing. We are reforming healthcare, so doctors who work for our country can get payed more money, tax cuts will go to 95% of working Americans. There is no incentive for the wealthy people of America to receive a tax cut and live like Kings and Queens while the middle class suffers job loses and high mortgage rates. We did this already. Why do you want to do it again? Wow, it takes more emissions to create electricity, and it takes more emissions to create things like shaping metal? That doesn't make any sense at all. This is to benefit the long run, not the short run. We are all in this together for the future we are not here to create raises for ourselves and let everything revolve around us. You guys are the ones who proposed tax cuts. Why is it so bad when Obama does it? You certainly are not going to get chosen the best answer. ZOMG RICH PEOPLE WHO WORK HARD SHOULD GET A RAISE Shut up. We already gave the rich a raise and look where we are now. Have we progressed at all? No. Why do you propose raises for the rich, and get mad at things like the AIG bailout? Stop contradicting yourself. It is the middle class who works hard, and the upper class controls the middle class by showing contempt for them and doing anything to benefit no one but themselves. They will certainly not get an income raise. Not happening.

Should I lock my variable mortgage with RBC? I have a variable mortgage with RBC Bank. I heard news that interest rate will be going up starring next year. So I was wondering if I should lock my interest rate. Also if I lock my variable mortgage will the monthly payment stay the same? Because with variable mortgage my monthly payment is always the same. If I lock it will it act as other mortgage where the monthly payment will be different each month.

Do lending institutions in the US really give higher mortgage rates based on the race of the applicants? http://news.yahoo.com/s/nm/20080407/us_nm/usa_banks_lending_dc I don't doubt that more sub prime loans went to minority applicants, but isn't it based on their credit and finances? I've financed 2 homes over the last 5 years and I don't recall being asked about my race or ethnicity. How would my lenders even know that I'm 1/2 Native American (both my loans are conventional by the way- no subprime or ARM junk)? Both transactions were done through a broker (not the lender). Like I said, I sure don't remember being asked about my race. I guess I could've been asked to check a box and just don't recall.

What do you see happening with Mortgage Interest Rates? I am looking to buy a house. I was approved last month and rates were great - I think my rate with discount points was about 4.5%. Today, I was told with discount point I could get down to maybe 5%. Given the recent news from the Fed, do you think rates will likely decrease again back to April/May rates, increase, or stay the same for a while? I would like to make an offer but am afraid to lock in a rate, only for rates to drop a week later. If you do see rates rising vs falling, would you be comfortable going with an FHA 5 1ARM? as opposed to an FHA 30 yr fixed? Do you think rates could rise that much in the next 5+ years?

Would you go for a 3 or 5 year fixed term mortgage? I heard on the news that in the UK, it was best to take out a 5 year fixed term mortgage, as the interest rates will go up and 5 years will protect you to an extent. However I have been offered a good deal on a 3 year fixed term. Any suggestions?

What's good right now in the news? Thousands perished in an earthquake and hurricane...many lost everything in a raging forest fire...war in the middle east continues...the price of gas keeps rising...mortgage rates plummet... Are there any good news that actually outweighs the bad??

Did I hear correctly - Bush's plan to help the mortgage crisis? I just caught the tail end of a CBS Evening News report about George W. Bush's 'plan' to help relieve the mortgage crisis in this country. If I understood correctly, government-backed refinancing packages would be available, but ONLY to those who own $400,000+ homes - those people with subprime loans and adjustable-rate mortgages wouldn't qualify for assistance. Bush said something to the effect that we can't bail people out who buy homes they can't afford. Then WHY would we bail out people who buy half-million-dollar homes? It sounds to me like this is just another Bush 'plan' to provide welfare for the wealthy and nothing for those who really need the financial assistance. -RKO- 08/31/07

Mortgage rate to interest rate? If the fed does drop the interest rate to zero as some news agencies have suggested, would that have a direct correlation to the mortgage rate? what if the prime rate were to drop, would mortgage rate decrease as well? thank you

What happens to my mortgage if Countrywide goes into bankruptcy? I read in the news that shares fell, and company could declare bankrupcy..would my mortgage(s) be affected as far as terms/rates? I read this on latimes/cnn/thestreet.com

Is there anybody out there facing foreclosure? I keep hearing about it on the news. Foreclosure rates are up, way up, and this is closely tied to the global economic crisis. NPR is talking about it all the time, but mostly, they're talking to economists and relaying the news on Wall Street. I would like to hear about it from the perspective of somebody who has lost their property because of one of these adjustable rate mortgages. What are you going through? I've been in situations before where I just wasn't sure I could pay my rent, so I think I could relate.

Mortgage Finance Experts: How will the market affect homeowners who will be refinancing next year? My parents bought their home 4 years ago at a 4% rate, which is due to change next year when their loan rate. With the market crunch and the new strict lending that's bound to occur as a result of this, they are worried about what refinancing has in store for them. The good news is that they have flawless credit (they successfully removed their PMI, and they are early every month on their mortgage payments ---and they pay an extra couple of hundred dollars than they should. Not to mention their credit card debt is very low (only a couple of thousand dollars). They've both been at their great paying jobs for over a decade; but they are still worried about whether they will be able to secure a decent fixed rate when their mandatory refinance is up. Any hope?

About mortgage foreclosures? This is not typically a question I would ask in an open forum like this. Eventhough mortgage forclosure has been one of the biggest stories in the news I have to ask due to my lack of knowledge and understanding on the topic. How much does change in mortgage rates have to do with the recent foreclosure phenomenon? What is the relationship between real-estate and mortgage increases? What ultimately lead to the foreclosures of so many families with in such a short period of time?

What do you think about the credit crunch? How long do u think it will last? How high do you think mortgage rates will go and when do you think they will start to come down? What effect does the fact that only 56% of mortgages were agreed by the banks last month in the UK compared to the same period last year? Also, what about fuel prices, the BBC news last night said to expect a 40% rise in fuel bills by the end of the year, how much of a disgrace is this? And finally, is there any ways that we can minimise the effects of the credit crunch?

What's the point of the emergency rate cut by the BOE shouldn't rates be increased instead? http://news.bbc.co.uk/2/hi/business/7683661.stm right lets get away from the election for a while, interest rate cuts make our currency and investment likelihood less enjoyable by investors, why cut rates as not all the value is past onto mortgage holders? Views tvm.

How much has your mortgage gone done since the recent interest rate cuts? Mine has gone down by £277 a month but I am overpaying while I can to make the most of it. First bit of good news this year! Thankss Minki I am not usually that sensible! But it feels really good to be doing something useful with the money! Does making overpayments make a significant difference to your mortgage balance? Oops!!! I meant gone DOWN!

where i can find today's wholesale market rate for fixed mortgage (2years)? where i can find today's wholesale market rate for fixed mortgage (2years)? as i want to exit a fixed mortgage with ANZ, and they could not locate today's wholesale market rate and told me to look in the news papers. is it available online?

YIKES...we have an adjustable rate mortgage...advice? We are due to refinance our A.R.M. this coming July. I'm really freaking out because of this big credit crunch that's going on and all of the homes that are being foreclosed. We went with an A.R.M. because our credit wasn't all that great, and the interest rate was better than with a fixed rate mortgage. I really need some advice and I'm hoping for some good news.

Who is really behind the sub-prime mortgage bailout,? If you thought Hillary Clinton’s government takeover plan for health care was bad, wait ‘til you see what she has in store for the housing sector. As always with the Clintons, the market is the problem and Big Nanny is the solution. Unfortunately for taxpayers, Hillary has bipartisan company in the Bush administration on this issue. Their election season prescription? Rewarding bad behavior. Punishing responsible behavior. Doing more harm than good. In case you’ve been living in a cave, there’s a painful credit crunch underway. The culprit is the subprime mortgage — a species of risky home loans to buyers with dubious credit and income. Cash-rich lenders doled out the subprimes hoping rising home prices would compensate for any failed bets. But when housing prices started plummeting and interest rates began rising, many borrowers started defaulting. Insolvency looms for countless lenders. Instead of letting lenders and subprime mortgage-holders suffer the consequences of their actions, politicians and grievance-mongers are riding to the supposed rescue. In a supreme irony, the very same champions of the needy in the Democrat party who complain constantly about the lack of “affordable housing” are now fighting tooth and nail to keep housing prices high. To “cure” the housing crisis, Hillary wants a 90-day moratorium on foreclosures for homeowners who default on subprimes. In addition, she wants a five-year freeze on the monthly rate for subprime adjustable mortgages. While she demonizes lenders as predatory out of one side of her mouth, the other side of her mouth is floating legislation to protect lenders from lawsuits and let them convert certain mortgages into “stable, affordable loans.” On top of all that federal meddling, she proposes a $5 billion — yes, that’s “billion” with a “b” — fund to “help communities suffering from high rates of foreclosures.” Jesse Jackson is also stirring the pot. With subprime victim sob stories flooding the news and anecdotes of minority homeowners in trouble, there’s no way the shakedown king could stay away. But the subprime mess isn’t a result of ruthless racial discrimination. If anything, it’s the result of too little discrimination by lenders too willing and eager to sign on people who had no business taking on mortgages. (And you know Jesse Jackson would be screaming either way. The lenders are damned if they lend and damned if they don’t.) Let’s boil this down to fundamentals: Why should the rest of us have to shoulder the burden because some buyers made poor choices, overextended themselves, and bought more house than they could afford? Why should other business owners bear the costs of lenders’ failed bets? And why are falling home prices such a catastrophe to be “fixed” in the first place? Sacramento Bee columnist Daniel Weintraub put it well: “It is great news when the price of energy, food, transportation, health care and consumer electronics drops. But for some reason it is bad news when the price of shelter drops. . . . Shouldn’t we be seeing stories filled with anecdotes about formerly priced-out middle-income families finally getting their chance at the American Dream?” There’s another side of the housing crunch equation that’s not making it onto the newspaper front pages and presidential campaign websites. “For every house sold because the buyer couldn’t make the payments,” Weintraub notes, “there is a buyer on the other end of that transaction who got a good deal. And for every foreclosure, there are probably 10 buyers of nearby homes who benefited from the general easing of house-price pressure.” Bingo. Fiscal conservatives ought to be balking at HillaryCare for housing. But President Bush’s treasury secretary, Hank Paulson, is singing a similar tune. He proposed a new safety net to stem the tide of home foreclosures through a bailout plan for homeowners with bad credit scores. They’d be eligible for relief from paying hundreds of dollars in additional monthly payments when their mortgage rates reset. Those who have been responsible enough to maintain good credit, however, will be out of luck. In addition, Federal Reserve Chairman Ben Bernanke has proposed that government-sponsored mortgage enterprises Fannie Mae and Freddie Mac be allowed to raise their loan limits and have their debt explicitly guaranteed by the public dole. Lawmakers on both sides of the aisle are colluding to protect the reckless and keep home prices high on the backs of prudent taxpayers. Who’ll bail us out from this perversion of the American Dream?

Obama Stimulus plan - Mortgage rate of 4.0%? I read this article http://news.yahoo.com/s/ap/20090206/ap_on_go_co/stimulus_housing saying that the votes didn't go through for the lower mortgage rate of 4.0 as part of Obama Stimulus plan. If you read/heard of this stimulus plan, please share with me. I am thinking of refinancing my mortgage with a lock in rate of 4.8% + 1 point that would expired end of this week. Should I go with this rate? What's the chances that the 4.0% rate stimulus plan would go through? LGuz the $15,000 tax credit do not apply existing home mortgage.

So, a bill to lower interest rates was killed by democrats? what are your thought on the news article below? It's all about social programs-this would of helped the housing market pick up, and if the housing market goes up so does everything else. WASHINGTON – A plan by Republicans in the Senate aimed at pushing mortgage rates lower has gone down to defeat at the hands of Democrats. The plan by Nevada Republican John Ensign would have encouraged banks to issue mortgages with interest rates of 4 to 4.5 percent. The government-controlled mortgage giants Fannie Mae and Freddie Mac would have bought the mortgages on the secondary market. Jumbo loans would have been ineligible. Democrats killed the idea Thursday night by a 62-35 vote. The plan also contained an assortment of expensive tax cuts such as cutting the bottom 10 percent income tax rate in half for two years.

Should I lock in my interest rate now or wait? We are buying a house and our mortgage company wants us to lock in our rate now at 5 1/2% with no points. We heard on the news interest rates should be dropping soon so should we wait?

Doesn't this seem like the govt. is paying the mortgage lenders to lower your payments? So basically if you agreed to a stupid mortgage the govt. will now pay your mortgage company in exchange for modifying your loan. Why would anyone try to buy things they can afford if the govt. is just going to cover the difference when you spend too much?? http://news.yahoo.com/s/bw/20090501/bs_bw/apr2009pi20090428324133;_ylt=AvXOXQOUevxk9jam4Y85o6dg.3QA;_ylu=X3oDMTE2N2kwcW8xBHBvcwMxBHNlYwN5bi1yLWItbGVmdARzbGsDZXYtb2JhbWFleHBh The new plan aims to get rid of that roadblock, Administration officials said. "With these latest program details, we're offering even more opportunities for borrowers to make their homes affordable under the administration's housing plan," Treasury Secretary Timothy Geithner said in a statement. $500 Up Front The Administration's initiative, funded out of $50 billion in financial rescue money, relies on a series of payments to mortgage companies as an incentive to modify second loans at lower interest rates. Mortgage companies would get $500 up front for each modified loan, plus $250 a year for three years as long as the borrower doesn't default. Borrowers would get up to $1,000 over five years applied to the principal balance of their primary mortgage, and the government would pick up part of investors' costs as well. Lenders would also be given the ability to remove second mortgages entirely in exchange for larger government payouts. The Administration also plans to give mortgage companies $2,500 payments to entice them to participate in the "Hope for Homeowners" program. It was launched by the government last fall but so far has been a failure, proving unattractive to banks required to absorb large losses. The program was supposed to allow 400,000 troubled homeowners to swap risky loans for traditional 30-year fixed-rate mortgages with lower rates. Instead, only a handful of borrowers have been able to qualify, and as of earlier this spring only one loan had completed the program.

Is it fair that Obama got an incredible deal on his mortgage from Rezko, but we all have to play by the rules? What was it again? Shortly after being sworn in as a U.S. Senator in January 2005, Obama bought a Georgian mansion in an upscale Chicago neighborhood. Obama bought the house for $300,000 less than the asking price of $1.95 million. The Obamas' income had just risen dramatically. As a U.S. Senator, Obama got an annual salary of $162,100, Random House agreed to reissue an Obama memoir as part of a $2.27 book million deal, and the University of Chicago Hospitals promoted Michelle Obama and more than doubled her pay, to $317,000. To finance his new mansion, Obama secured a $1.32 million loan from Northern Trust in Illinois. Obama received a discount on the loan:He locked in an interest rate of 5.625 percent on the 30-year fixed-rate mortgage, below the average for such loans at the time in Chicago. The loan was unusually large, known in banker lingo as a "super super jumbo." Obama paid no origination fee or discount points, as some consumers do to reduce their interest rates. Compared with the average terms offered at the time in Chicago, Obama's rate could have saved him more than $300 per month.So who cares? Perhaps you should. Joe Stephens explains why in the Washington Post:But amid a national housing crisis, news of discounts offered to Sens. Christopher J. Dodd (D-Conn.), chairman of the banking committee, and Kent Conrad (D-N.D) by another lender, Countrywide Financial, has brought new scrutiny to the practice and has resulted in a preliminary Senate ethics committee inquiry into the Dodd and Conrad loans. Within Obama's presidential campaign organization, former Fannie Mae chief executive James A. Johnson resigned abruptly as head of the vice presidential search committee after his favorable Countrywide loan became public. Driving the recent debate is concern that public officials, knowingly or unknowingly, may receive special treatment from lenders and that the discounts could constitute gifts that are prohibited by law. "The real question is: Were congressmen getting unique treatment that others weren't getting?" http://www.examiner.com/x-268-Right-Side-Politics-Examiner~topic5532-Rezko

Opinions: What are the effects of constant exposure to advertisements? What percentage of the pages in popular magazines are for advertisements? How many TV and radio commercials do we see and hear every day? And now, consider this. To a greater extent every day, we rely on interactive and multi-media internet tools for our information. Weather, sports, news, and other interesting or necessary information for our daily lives are now accessed through websites, and ever-increasing amounts of bandwidth have allowed for video advertisements to be found nearly everywhere. Load a site? See an advertisement. Find a sports update? Watch a video ad first. Check the weather? See a dancing figure beg you to pay attention to the advertisement of their new super-low rate mortgage offer. I perceive advertisements to be increasingly trespassing onto our every waking moment. Over a long enough period of time, what do you think this does to us?

Yahoo News Headlines Biased? #1 The story of the girl who dies from being denied a liver transplant from insurance? Is this really unique? Why aren't there stories of the thousands who die in Canada each year from all of the red tape causing breakdowns in their Socialized Healthcare system? #2 Tent City in Suburbs? - Referring to the "victims" of the Subprime mortgage rate bust. NO ONE is responsible except these people. They signed for mortgages with VARIABLE RATES, meaning the rates could rise at any time for any reason. They signed for introductory rates that were LOWER than the Prime Rate, which means the banks were going to lose money if the Prime Rate rose. WHAT IN THE HELL DID THEY THINK WAS GOING TO HAPPEN??? - The Banks raised their rates and all of the sudden, these people could not afford the mortgages that THEY signed for. How dumb can a person really be? And they want the government to bail them out? Are they going to bail me out if I buy car that I couldn't afford? - Hell No!

Mortgage Bailout USA, Now how does this work? 2 families miles apart, both have mortgages around $2000 a month. Family #1 see problems in the future so they save their money, cut expenses and brace themselves for the turmoil of today. They are fortunate enough even though with the drop in employment, they so far have successfully suffered through these tough times Barely making each mortgage payment. Family #2 on the other hand did not prepare at all. They went about their daily lives and did not change their spending habits. Soon enough they were falling behind on their mortgage payments and other bills. They are now on the foreclosure list waiting anxiously for some government mortgage bailout help. Who do you feel needs the help? Family #1 are just getting by with their existing mortgage. Family #2 have no money and are in foreclosure. Family #2 gets ALL the help. They get a reduced interest rate on their mortgage and possibly even a reduced amount on the principal amount of the total mortgage. Family #1 gets NOTHING. They get no reduction in their mortgage interest rate and must continue to pay their full mortgage on a home that has lost almost $100,000.00 in value. How do you feel about the way the gov't is handling the mortgage crisis after reading this story that was on the news this morning? Good Answer Carl Marx, only thing is Family 1 can't sell because their home is not worth todays values and probably can't refinance either because they have negative equity. Dave S, not according to GMA on this morning. Family #1 is going to get no help at all.

8 years of Republican-omics:mortgage rate what?DUBYA's golf pals doin' fine!? LET THEM EAT RECESSION http://news.google.it/news?ned=us&hl=en&... Exxon profit beats its record again Seattle Times, United States - 4 hours ago Exxon Mobil reported another blowout quarter Thursday, as oil prices hit a record over the summer and gasoline soared well above $4 a gallon across the ... Global giants’ profits jump The Statesman, India - 4 hours ago NEW YORK/LONDON, Oct. 30: Energy giants Exxon Mobil and Royal Dutch Shell reported strong quarterly profits, propelled mainly by record oil prices which had ... Exxon Mobil beats own profit record Chicago Tribune, United States - 4 hours ago Exxon Mobil Corp. smashed its own record for quarterly profit Thursday, ringing up $14.8 billion in net income in the third quarter, powered by high ... Exxon sets profit record —- again Atlanta Journal Constitution, USA - 4 hours ago By Steven Mufson Washington —- Exxon Mobil Corp. smashed its own record for quarterly profits Thursday, ringing up $14.8 billion in net income in the third ... Exxon wins big again at the pump Salt Lake Tribune, United States - 5 hours ago In this July 31, 2008 file photo, a customer holds a gas pump handle at an Exxon station in Vancouver, Wash. Exxon Mobil Corp. sets quarterly profit record ... Oil producers’ profits may be at their peak Houston Chronicle, United States - 7 hours ago By KRISTEN HAYS Copyright 2008 Houston Chronicle With oil prices no longer in the triple digits, analysts expect to see cutbacks from energy companies. ... Exxon sets record with nearly $15 billion quarterly profit Dallas Morning News, TX - 7 hours ago By ELIZABETH SOUDER / The Dallas Morning News Exxon Mobil Corp. earned more in the third quarter than any US company has ever earned in a single quarter, ... Exxon shatters record for US profit on operations Minneapolis Star Tribune, MN - 9 hours ago Exxon Mobil Corp., the world's largest publicly traded oil company, reported income Thursday that shattered its own record for the biggest profit from ... Exxon breaks profit record; Shell, Marathon also soar Houston Chronicle, United States - 10 hours ago By KRISTEN HAYS Copyright 2008 Houston Chronicle Exxon Mobil again broke its own quarterly profit record amid the summer’s unprecedented oil prices, ... Shell and Exxon join the profits bonanza guardian.co.uk, UK - 11 hours ago

Despicable - mortgage lenders in "No rush" to pass on rate decrease to borrowers - disgusting? The source:- http://news.bbc.co.uk/1/hi/business/7713158.stm Today, BOE base rate was slashed to a new 53-year low. However, as we have seen with previous other interest rate cuts, mortgage lenders are shuffling their feet in passing the drop to customers, or even worse, not passing on the full rate. If we look at a typical mortgage T&C's, we reveal that all payments encompass the previous calendar month. So, at most, lenders should take a corresponding month to pass the rate cut onto customers. Why then, have many of the high street banks not passed this on previous cuts? If the FSA was not a bunch of toothless, chinless wonders who serve no actual productive contribution to the world of economics, much less humanity, the banks would be hung, drawn and quartered. Is it cynical to assume banks want to milk maximum return on customer's borrowings, in the days where every morsel counts? Do you agree it is a disgusting practice, and something really ought to be done, ot do you think it is simply atypical of a financial institution?

Are there any statistics available on who is being foreclosed on and why? Apparently, this financial mess started with massive foreclosures, and was made exponentially worse by shady trading. But, I haven't heard anything explaining why people all the sudden are defaulting. At one time, they had enough money to pay their mortgage, why not now? Are most of these people defaulting because they lost their jobs? Are they defaulting because the banks raised their rates? The only news I've heard about this, is a 90yr old woman shot herself when she was being foreclosed on (didn't say why) and people on FOX talking about how the financial crisis is all the consumer's fault for lying about their income, which still doesn't explain how these people were able to make payments before, and not now. And everybody except people on FOX (lol) say it's because of some kind of shadow, unregulated derivatives market. Since foreclosures seem to be one of the causes of the financial crisis, you'd think there would be a lot of research going into who and why people are being foreclosed on.

Subprime mortgage "crisis". Several questions? I keep hearing on the news where Subprime mortgage borrowers are losing their homes due to the rising interest rates. I have even seen where some of the companies who granted the loans are closing up shop. What happens to the mortgage after the lender folds? Did the companies not see this coming? What will happen to the people who can't afford the mortgage payments?

When did E*Trade stop issuing mortgages? The rates page is gone from their website. There was nothing about it on the news. I just heard a rumor this weekend that mortgage rates on conforming loans (<$417K) are going to go up to 7% this week. Mortgage brokers are circulating this. I wanted to check from a more reliable source, and noticed E*Trade apparently no longer offer mortgages!! When did they stop it?

Closing on a new home..what does today's news mean for me? I'm closing in 2 weeks on a brand new home in Texas. I'm assuming the rate I was quoted last week has dropped a bit but what else does today's news mean for a 30 year fixed mortgage?

Are banks still selling adjustable rates for homes? Why hasn't the gov. stepped in? I was wondering if our government has stepped in and ended the adjustable rate bank loans for houses. So many people have defaulted. Why havne't we heard anything on the news about that? They act like the loans are still out there. If they are and you still did qualify somehow why would the gov. continue to let this happen. According to some business journals we've only seen the first couple waves of defualted adj. rate mortgages. We still have 3-4 more years of forclosures. What a mess. How can poor people working meanal jobs ever think they will afford a house? I have a 30 years fixed on a really nice house that I can afford. Are most people in America really that stupid? You must all be realitors or something. Ya let people borrow money they don't have and watch me pay for it. Free market my ass!!!