October 2nd, 2011

Weekly Recap (09/26/11-10/01/11)




New calculators could save you thousands!

Both consumers and professionals alike are drawn to for our ever-expanding suite of financial tools, articles, mortgage rate information, expert commentary and more.

Just this week, released two new and unique calculators designed to help homeowners save thousands by paying off their mortgages early…


Bostonians protesting against BofA

Recent groups of protestors that have sprouted up across the city of Boston haven’t been voicing their displeasure with their baseball team’s September collapse, they’re protesting against Bank of America.

Today, over 1,000 people are expected to march in downtown Boston to protest against the bank, and “rally against Wall Street greed, predatory lending, and skyrocketing foreclosures in urban communities,” according to a press release.

Take Back Boston, one of the websites that has the latest information on anti-BofA protests and ralliess across the city, says although these protests are happening in Boston, this is a national concern…


Consumers need more protection

The newly-formed Consumer Finance Protection Bureau has come out with an agenda of sorts–the goals it sees for itself to better the mortgage marketplace.

Here are the three central concepts which the CFPB outlined:

1. “People should be able to know before they owe. More paperwork doesn’t mean better disclosure.”

I would seriously doubt many people have any clue as to the actual content of their loan documents or settlement papers…


“The triple threat facing first-time homebuyers

First-time homebuyers are extremely important to this country’s housing market. The participation of this buying demographic is essential for housing to function properly.

However, just like many other potential buyers in the current marketplace, the influence of first-timers has been diminished.

Check out all our articles dedicated to first-time homebuyers

Today, we’re going to examine three specific factors keeping this integral portion of the market on the sidelines…


Shadow inventory, high rents: Prolonged crisis, yet deals abound”

How many additional foreclosures are likely in the pipeline during the next few years?

The answer is as many as 10,367,515, according to Laurie S. Goodman with the Amherst Securities Group.

Speaking before a Capitol Hill subcommittee, Goodman said


Mortgage rates find more room to fall

There were plenty of economic twists and turns last week which allowed mortgage rates to find some additional room to fall.

Fed and economy send rates downward

As we mentioned last Monday:

The “wildcard in the [mortgage rate] forecast is the Fed; if something unexpected comes in the statement which will come on Wednesday, some additional volatility in either direction might occur.”

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About the HSH Blog's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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