The recession and the subprime mortgage crisis hit Florida with hurricane force, leaving a wake of home foreclosures and more than 10 percent unemployment at its peak. Four years later, the state still works hard to build back its economic strength.
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Slow but steady grows the Florida economy
Posted by mortgage 7 days ago (Editorial)
Residential Capital seeks Chapter 11 protection
Posted by mortgage 7 days ago (Editorial)
Residential Capital, the unprofitable subprime mortgage company whose parent Ally Financial is trying to repay a U.S. government bailout, filed for bankruptcy and plans to sell most of its assets to Fortress Investment Group.
RBC, Credit Suisse among bidders for BofA wealth units: sources
Posted by mortgage 7 days ago (Editorial)
SINGAPORE/HONG KONG (Reuters) - Royal Bank of Canada and Credit Suisse are among suitors who have put in initial bids to buy the non-U.S. wealth management business of Bank of America in a deal that could be worth about $2 billion, sources said. Swiss bank Julius Baer was also keen to bid for some of BofA's units in Europe, the Middle East, Latin America and Asia excluding Japan, the sources
National mortgage rates for May 17, 2012
Posted by mortgage 7 days ago (Editorial)
Interest Rate Roundup Mortgages CDs Auto Loans Home Equity Credit Cards Find the best mortgage rates in your area. Mortgages 3.97% (30-year fixed) 0.44 (average points)Mortgage rates reached record lows, ...
Mortgage rates at record lows as 30-yr at 3.79%
Posted by mortgage 7 days ago (Editorial)
WASHINGTON (MarketWatch) - Mortgage rates hit record lows in the week ending May 17, with the 30-year fixed-rate mortgage average falling to 3.79% from 3.83% in the prior week, Freddie Mac said Thursday in its weekly report. These data go back to 1971. The rate was 4.61% a year earlier. To obtain the latest 30-year rate, payment of an average 0.7 point was required, according to Freddie, a buyer
Rates keep dropping and refis are hopping
Posted by mortgage 7 days ago (Editorial)
Mortgage rates dipped again, for the sixth week in a row, pushing the rate on the most common type of mortgage below 4 percent for the first time in the history of Bankrate's survey.
Mortgage rates at record low as 30-year rate falls to 3.79%
Posted by mortgage 7 days ago (Editorial)
Mortgage rates at record low as 30-year rate falls to 3.79%
Mortgage refinancing applications jump; rates fall: MBA
Posted by mortgage 7 days ago (Editorial)
NEW YORK (Reuters) - Applications for U.S. home mortgages surged last week, driven by increased demand for refinancing as interest rates hit fresh lows, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, jumped 9.2 percent in the week ended May 11. The
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