Both fixed-rate mortgages are at record lows, after falling for nine of the past 10 weeks and shattering several previous record lows. Freddie Mac began tracking the 30-year fixed-rate mortgage in 1971 and the ...

NEW YORK (AP) — Mortgage rates fell to the lowest level in decades for the ninth time in 10 weeks as concerns grow that the economy is weakening. Mortgage buyer Freddie Mac said Thursday that the average rate for a 30 ...

Sept. 4 (Bloomberg) -- Treasury 10-year notes ... added the most jobs in three years. Shorter-term Treasuries rose this week as investors remained convinced that the Fed would hold its target lending rate at zero to ...

10:59 a.m., Thursday, September 2 ... Average rates on five-year adjustable-rate mortgages fell to 3.54 percent from 3.56 percent the week before. Rates on one-year adjustable-rate mortgages fell to an ...

They also raised their jobless rate forecast for ... Treasuries and $1.425 trillion in mortgage securities. The BofA Merrill analysts said these purchases, equivalent to $850 billion in 10-year Treasuries,

... 10-year note yield was headed for an August drop of 43 basis points, which would be the biggest monthly decrease since December 2008, when the yield fell 71 basis points after the Fed cut its target lending rate ...

Thirty-year mortgage rates have fallen to fresh lows for 10 out of the past 11 weeks. Freddie Mac started the survey in April 1971. Meanwhile, 15-year fixed-rate mortgages averaged 3.83 percent, down from 3.86 ...

which influence mortgage rates and which began a sharp slide five months ago because of worries about the economy, have surged since Tuesday along with the stock market. The yield on the 10-year Treasury note rose to ...

... average rate for a 30-year fixed mortgage fell to 4.32 percent in the week that ended yesterday from 4.36 percent, Freddie Mac said. That was ... previously owned homes fell to the lowest level on record in July,

... in Pennsylvania for a $200,000 loan is $1,358.75 basic rate and $1,222.88 reissue rate, if another policy was issued on the property in the previous 10 years, he said. Horsham mortgage broker Peter Buchsbaum ...

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notayesmanseconomics.wordpress.com
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I'm 24 and i owe some money, started out at £1500 but with all the bailiff charges is now about £3500 (small to the national average i know) split between 3 different card companies from about 3 years ago. i had no means of paying them and basically ran out of options i'm off their grid, letters from bailiffs are occassionally sent to a very old address of mine, no visits and quite frankly i think they've got bigger fish to fry. i now have one bank account which i was always excellent with and still am i have no intention of getting a mortgage and dont need credit for anything. my car, bike, flat lease and bills are in my girlfriends name (she has no idea i have this debt) and am now more or less on my feet and am saving about £1000-1500 a month i say i dont need credit for anything but i may in the future and am quite sure my credit score will have the lowest rating possible. So what do i do? do i wait till i have the £3500 comfortably (i only just have it now and am not about to clean myself out) and then pay it by postal order? will there be any comeback? then do i just slowly build up my credit score with small things like a £100 overdraft application and mobile contract etc over the next 10 years. will it ever be a solid score? one thing i dont want to do is alert my girlfriend to the predicament (it was from before we were together and she'd just worry). i just want to pay it and let that be the end of it...... can this be done?

I know that investment companies buy 10 year treasuries from the US government and that as stocks become less attractive, these investment companies have more demand for the treasuries, thus the government can lower the yield they need to pay (basic supply and demand). What I don't get is how this treasuries relates to mortgage rates. I can't quite make the connection. Thanks in advance.

My report says 9/2010 it will be removed, well, its 9/2010, Ive waited 10 years for this, rebuilding my credit, etc, just waiting for this to come off so I can get a mortgage at a good rate. Does 9/2010 mean 9/30/2010 or what? Just wondering what to expect here, ready to close this chapter, no pun intended, in my life.A point on that "it hasnt mattered for a while" thing. I figured I would apply for a store credit card online, as I shop for work clothes at the same store, all the time. Well, I applied for the card, and it was denied, reason: Bankruptcy, this was just last week, so it does still give me a black eye in the eyes of some creditors.

Long story short (kind of)...my husband and I are in one of those crappy adjustable rate mortages which is set to go up in January. We have been trying to refinance, but are having horrible luck. Our credit is considered good (even though we do have a bankruptcy on our record) - but we are being told that our loan to home value is what is throwing us off. We need to be refinanced for $180,000 but our home value is falling short of that. I know there are programs out there like "relief programs" but we keep being told we do not qualify because our loan is neither a Freddie Mac or Fannie Mae. Another stickler seems to be the fact that we pay ALL our bills ontime. There are programs out there for people who are behind on their mortgages...which is not our situation. We are current on all our bills. Bankruptcy was discharged over 2 years ago, and we have worked to rebuild our credit. Is there ANY hope for us out there as far as being able to refinance before our mortgage adjusts is January? Oh, and I DO understand that a bankuptcy will stay on our record for 10 years - but according to a few different mortgage brokers, that's not the problem...it's the economy. HELP!

My husband and I are looking at a home thats been on the market for over two years. Its priced at 600k all everything. When we went for a showing, the sellers tell us it is $660k. Since we expressed an interest in doing a lease purchase with them, we mentioned we might could offer them a little more than the price of the home to make it appealing to them....but $60k higher? What the hell. They jumped on our offer for the lease purchase. They want $66k down (10%) and also 3 months rent up front. They also are going to charge us rent using a standard mortgage calculation....the balance after our 66K down up front 6% interest rate for 30 years to calculate the rent. BUT now they also are demanding we pay 4300 taxes and the insurance as well.... Looking at this all, (and we havent said a word back to them yet) I think we are getting a little screwed. First there is the price increase based on a little comment I made after giving thema little more for the home, then they give us an outrageous rent amount with NO RENT CREDITS toward the principle of the home, they want US to pay taxes and insurance and on top of that, the seller wants to remove two structures on the property which are part of the home because he wants to keep them. Being this home has been on the market for such a long time, and went to auction with NO BIDDERS or shows, I would think that we would be in the position to make demands. I'm a fair person, why is it that sellers are always trying to be such a PITA making demands. I went through this once already with our first home and regret that purchase. I dont want to be in that position again. I want the seller to feel good and us too. It should be a win win...not seller cleaning the floor with us. If you were me..how would you counter offer this and be fair....cause thats what its all about.We definately plan on getting a real estate lawyer too btw..im not stupid hehe :)Yes, I was thinking more like 620000.00 also. I want them to take the sheds..i dont like them..but that also remove value from the property 16k to be exact. I have an appointment to meet a real estate lawyer next tues. to show him the contract they are giving us tomorrow ...I expoect to counter them heavily and I'm prepared to walk abway even though im already emotionally attached to the home. We love it..its perfect...but im sick of dealing with sellers who think they have a right to make silly demands in a market like this. They should be happy to have found us period.

I'm 24 and i owe some money, started out at £1500 but with all the bailiff charges is now about £3500 (small to the national average i know) split between 3 different card companies from about 3 years ago. i had no means of paying them and basically ran out of options i'm off their grid, letters from bailiffs are occassionally sent to a very old address of mine, no visits and quite frankly i think they've got bigger fish to fry. i now have one bank account which i was always excellent with and still am i have no intention of getting a mortgage and dont need credit for anything. my car, bike, flat lease and bills are in my girlfriends name (she has no idea i have this debt) and am now more or less on my feet and am saving about £1000-1500 a month i say i dont need credit for anything but i may in the future and am quite sure my credit score will have the lowest rating possible. So what do i do? do i wait till i have the £3500 comfortably (i only just have it now and am not about to clean myself out) and then pay it by postal order? will there be any comeback? then do i just slowly build up my credit score with small things like a £100 overdraft application and mobile contract etc over the next 10 years. will it ever be a solid score? one thing i dont want to do is alert my girlfriend to the predicament (it was from before we were together and she'd just worry). i just want to pay it and let that be the end of it...... can this be done?

Currently we have a 10 yr ARM with 3 years left on it. It's a jumbo loan of $469,000 with a monthly payment of $2500. When time is up we won't be able to afford to refi into a fixed rate mortgage. I feel that there are 2 choices: 1.) Refi into another affordable ARM, repeat as needed to stay in the home. 2.)Sell the house - Our home is in a nice area and is larger than most plus it has been completely remodeled so I estimate it would sell for $540,000 (before the bubble burst it was appraised at $700,00). We could move into my Dad's rental property which is in the same neighborhood. That would allow us to save a little money, the rent is a few hundred cheaper than our current mortgage and then not have to worry about mortgage issues. We have no debt, but we also have no savings. I really want to make the right decision this time! Thanks.

Our balloon is due on our building. We took out the mortgage over 7 years ago. The bank first took all our paperwork. They then approved a refinance, but they ONLY lowered our interest rate by 1/2% to 8%. What a slap in the face. Now, they are telling us that we will owe them around $10,000, which is the difference between 73% of the LOW appraisal said our building is worth, and what we owe. I can't afford to take that out of our meager savings! I feel like I am being strangled to death by this bank. Are there any tips I can get from anyone here about banks and negotiating with them?By the way, my credit score is just over 800, we make a good living, and 8 1/2% was common over 7 years ago for commercial properties.

I technically do have friends (the people I went to university with) but they all live such a long way away that I've only seen them a handful of times. I had to move back in with my parents after university. I cant "just move to another town" as I don't have that kind of money. I really want some local friends who I can hang out with midweek. There are few people my age in my town and all the social and interest groups are dominated by people at least 10 years older than me. I've had individual older friends before but when you are the only one in a group of older people you just get excluded from the conversation. Work is similar. Am I going to have to wait until I'm 30 and can join in conversations about interest rates, mortgages, child care arrangements and the stress of a high powered career before I can make friends?I don't think that they are excluding me to be mean. I think its just that we have so little in common that its difficult for me to join in the conversations.

Our own people are suffering and Obama save the homes programs failed. What should come first illegals getting free college educations or helping out fellow Americans ?WASHINGTON — One in 10 American households with a mortgage is at risk of losing its home, and the foreclosure crisis could worsen if jobs remain scarce. About 9.9 percent of homeowners had missed at least one mortgage payment as of June 30, the Mortgage Bankers Association said on Thursday. That number, adjusted for seasonal factors, was barely down from a record-high of more than 10 percent as of April 30. The Labor Department said requests for unemployment benefits fell sharply last week. The drop in first-time claims to a seasonally adjusted 473,000 was the first decline in a month and a hopeful sign after a raft of dismal economic reports. Still, unemployment claims remain much higher than they would be in a healthy economy. Employers are reluctant to hire as economic growth appears to be slowing. The number of Americans who are missing payments and falling into foreclosure has followed the upward trend in unemployment. The jobless rate has remained near double digits all year. "Ultimately, the housing story, whether it is delinquencies, homes sales or housing starts, is an employment story," Jay Brinkmann, the Mortgage Bankers Association's top economist, said in a statement. "Only when we see a consistent increase in employment will we see an increase in sales and starts, and a sustained improvement in the delinquency numbers." More than 2.3 million homes have been repossessed by lenders since the recession began in December 2007, according to foreclosure listing service RealtyTrac Inc. Economists expect the number of foreclosures to grow well into next year. Besides forcing people from their homes, foreclosures and distressed home sales have pressured home values and crippled the broader housing industry. They have made it difficult for homebuilders to compete with the depressed prices and discouraged potential sellers from putting homes on the market. The housing market is struggling even as mortgage rates fell to the lowest level in decades for the ninth time in 10 weeks. Mortgage buyer Freddie Mac said the average rate for a 30-year fixed loan fell to 4.36 percent this week. Rates have fallen since the spring as investors, spooked by a slowing economy, shifted money into the safety of Treasury bonds. That has lowered the yields on long-term Treasurys. Mortgage rates tend to track those yields. The economy has grown for four straight quarters. But the pace has slowed from a 5 percent annual rate in last year's fourth quarter to 3.7 percent in the January-to-March period. It has weakened even further in the past several months. Many economists expect the government Friday to revise lower its growth estimate for the April-to-June quarter to below 2 percent. That's weak in normal times and even more worrisome after a steep recession. http://www.chron.com/disp/story.mpl/business/7172778.html

For Exercises 1-3: (a) State the null hypothesis and the alternate hypothesis. (b) State the decision rule. (c) Compute the value of the test statistic. (d) What is your decision regarding H0? (e) What is the p-value? Interpret it. 1. The manufacturer of the X-15 steel-belted radial truck tire claims that the mean mileage the tire can be driven before the tread wears out is 60,000 miles. The standard deviation of the mileage is 5,000 miles. The Crosset Truck Company bought 48 tires and found that the mean mileage for their trucks is 59,500 miles. Is Crosset's experience different from that claimed by the manufacturer at the .05 significance level? 2. The management of White Industries is considering a new method of assembling its golf cart. The present method requires 42.3 minutes, on the average, to assemble a cart. The mean assembly time for a random sample of 24 carts, using the new method, was 40.6 minutes, and the standard deviation of the sample was 2.7 minutes. Using the .10 level of significance, can we conclude that the assembly time using the new method is faster? 3. Experience raising New Jersey Red chickens revealed the mean weight of the chickens at five months is 4.35 pounds. The weights follow the normal distribution. In an effort to increase their weight, a special additive is added to the chicken feed. The subsequent weights of a sample of five-month-old chickens were (in pounds): At the .01 level, has the special additive increased the mean weight of the chickens? Estimate the p-value. 4.41 4.37 4.33 4.35 4.30 4.39 4.36 4.38 4.40 4.39 4. A recent article in the Wall Street Journal reported that the 30-year mortgage rate is now less than 6 percent. A sample of eight small banks in the Midwest revealed the following 30- year rates (in percent): 4.85.36.54.86.15.86.25.6 At the .01 significance level, can we conclude that the 30-year mortgage rate for small banks is less than 6 percent? Estimate the p-value. Note: Methods of computation could include the usage of Excel®, SPSS®, Lotus®, SAS®, MINITAB®, or by hand computation.

My husband of 13 years and I are going through a divorce. We have two boys aged 9 and 10 who I have custody of, but he sees them every other weekend. We have a large mortgage on the matrimonial home. He wants me to take over the mortgage (I do not work but claim benefits and will receive child maintenance) so it will be a struggle but I am prepared to do it. My main concern is if the interest rates go up. Do you think it would be appropriate to put forward that he pays for any increase in the mortgage payments should the interest rates go up? My solicitor seems to think it is a fair offer but I am worried he won't accept it. Any advice please.I thought when I said husband of 13 years it was obvious what I meant lol. I DID NOT MARRY A 13 YEAR OLD D'OH!!! We were married for 13 years!!!

I know you can use a calculator but I want to be able to calculate a mortgage without. The correct answer is $1,199.10 30 year mortgage at a 6% interest rate with a $200,000 loan. Here is a link to the formula http://steadfastfinances.com/blog/wp-content/uploads/2010/02/Amortization-Equation-example.jpg Here is what I bashed into my calculator 200 000 * 0.0005 = 100 0.06 / 12 + 1 = 1.005 1 - 1.005 = -0.005 -0.005 - 12 * 30 = -360.15 100 / -360.15 = -260.15 What did I do wrong? I already have the algebra I just don't know how to interpret it.

Hey, So in November 2008 I took out a 14 day trial of Orange Mobile Broadband (the USB Dongle) through Phones 4 U. I found, over the first 7 days, that I wasnt getting a very good reception. I took it back and got a replacement. This one got low reception too. I cancelled the trial on the last day. End of story, right? Well it should have been. However Orange apparently didnt receive the cancellation, and continued billing me. After the first bill I went into the Phones 4 U store and told them what had happened. They looked it up on their system - there it was, clear as day, cancellation date of 2nd December. I seem to remember they told Orange at this point, and said not to worry about it. So one reminder to pay this bill (threatening to disconnect and affect my credit rating) and one bill later (now owing > £38) I went back and complained again. Pretty much same thing happened. Eventually, one more reminder / threatening letter and bill later, I paid the bill and got paid back for it by Orange. End of story, or so I thought... A week ago I tried to apply for a credit card. It was turned down due to my credit report. I looked up my credit report and guess what? Orange had affected my credit report despite it not being my fault. I complained to Orange by email straight away and got a reply yesterday. I was told to write a letter to Experian (with a £2.50 cheque - yes Orange are telling me to pay to correct THEIR mistake!! What an insult!!). I signed up to Experian and in the FAQs I noticed it said to ask the organisation involved to correct data if its wrong. I wrote a stroppy reply back to Orange saying that I had been advised completely the opposite of what I should have done and threatened to go to OfCom if this is not fixed immediately. I got a reply back within about 15 minutes saying to write to Orange Credit Referral Debt with a copy of the "file" (assuming they mean a printout of the credit report). I really strongly feel that I should ask for compensation for the amount of stress they have caused over the past 22 months (thats right - a 14 day FREE trial is still affecting me 22 months on!!). My parents both feel different about it - they think I should just regard it as a lesson, get all the damage undone and move on. What do other people think? Should I ask Orange for some kind of compensation (like 10 months free on my £10 per month phone contract that I still have with them, or £100 cash or something), take them to court for damages to my reputation or just leave it and move on? Are there any Orange employees on here that could tell me what they may be able to offer in compensation? Please bear in mind that, if I hadnt tried to apply for a credit card, I couldve been refused for a mortgage, graduate overdraft, loan or any other finance I may need in the first few years of my working life. This could have affected me drastically, and still could if they dont pull themselves together and get something done about this soon... Many thanks in advance. Regards, Richard PS if anyone can think of a better category for this then please change it if you can...Up until February, since September 2006, I was on at least £30 a month contract. I tried to leave in Feb and they gave me an awesome contract for the same deal at £10 a month (£25 less than I was paying at the time). I doubt I'll get offered the same deal any time soon so I took it without even thinking about it. In the scheme of things, bearing in mind that on > £30 a month they have made > £1230 out of me, I think they owe me something as a loyal customer... I called customer services this morning - the woman first said to go to Phones 4 U, to which I marginly raised my voice and said it was Oranges fault, and Phones 4 U have had nothing to do with it since they paid off my bill. She said to go to Experian and pay £2.50 (that insulted me and is wrong anyway - I said so, but not too loudly). She then said to contact the referrals email address with my credit report. I did this and asked for a bit of compensation then. Finally getting somewhere. Will post any more updates on here.Helen - thanks for the advice but, thankfully, my situation is not THAT desperate. I have parents and brothers I can fall back on if I absolutely have to. Its more the principle that I want the compensation for - the fact that the situation could have been a lot worse, had I decided not to apply for that credit card after all (I was sat on the fence about it when I suddenly decided to press Submit!). I have enough to get by, but with that mark on my record I may not be able to get a place to live or get enough money to survive the first couple of months in my first job if it doesnt get fixed soon. Anyway someone from Experian is on the case too - we are both pestering Orange to do something about it. Hopefully get it sorted out this afternoon or by the end of the week at least. RichardThanks for the information Charterman - very very useful. I will use this as a large resort. In fact if they either dont fix it or they do fix it but dont give me any compensation I will drop him an email requesting compensation (maybe threaten to go to Ofcom or the Daily Mail unless I receive compensation for the stress caused and damages to my reputation - but that does sound a bit like blackmail, doesnt it?). I will give them until Tuesday (i.e. 5 working days after my last email) to put this right. I have an exam (my final one!!) on Tuesday so it kinda makes sense leaving it till then. Will post back here to let people know how I am doing.Ok, so I was revising for my exam but getting increasingly frustrated by this situation. So I have sent Tom Alexander an email explaining the situation and finishing it with something about having a contact in the Daily Mail who I may use if I am not satisfied by the outcome of the situation. I have also said that I WILL be leaving in that case - and nothing anyone can say or offer me at the time of leaving will change my mind. Just gotta hope he gets back to me soon. I have marked it as High priority and requested a read receipt. RichardWell I just had an interesting phone call - from Sam from Orange Executive Office. I wonder if they all have 3 letter names.. He was just checking on how things were going. I had an email this morning from Referrals saying that they had removed all details of that account from my credit record but, due to the nature of the problem and their t's and c's, they could not compensate me anything. I apologised in case I had come across as stroppy at all and explained that I am about to sit my final exam and I have been ill recently, so I have good reason to be stressed out. Sam gave me a phone number to go straight through to his desk should I have any more problems with this case. He said he completely understands if I am angry about the situation and that it shouldnt have happened, but that Phones 4 U are at fault. They refunded me £40 to go towards the phone calls I have had to make as a result of this, for being a loyal customer. Thanks all for the advice. Regards, Richard

Right now my credit score is 787. I'm really wanting to get an used car, 1 or 2 years old car with less than 30K miles so that it would last me for the next 10 years. Currently my car is at 115K miles and is 9 years old, AC is broken. Radio is broken. The door handle is broken (my side). But no money to get them fixed. At the same time I am in a not-so-good situation with my house. I put it up for short sale. And applied for loan modification. After reading different articles, and posts, I learned that I won't be getting approved for loan modification because I'm selling the house. Yes I AM planning to move out of the house, I MUST downsize, settling in an apt so that my budget would be better as soon as my student loans repayment start in February. I simply cannot afford the mortgage anymore (after 3 years). My mom (whose name is also on the house) cant afford it either so she's planning to move out too. So there's no way I'd stay and ride it out. Or get drown. I tried offering deed of lien and they told me to just wait for the decision from loan department. Well, I told them they will NOT help me because I'm already current! So fine, I'll just stop paying the mortgage because I really need the money for security deposit and apt, as well as moving expenses. I KNOW my credit will ding ..and ding.. as soon as I miss payments. It's a matter of time when my credit gets totally ruined. So I wonder if I should hurry and get an used car that is in excellent shape that would last me for the next 10 years with good interest rate because I won't be able to get a car once my credit shot down with the house being behind in payments and into foreclosure. NOTE: I live in Florida. Yeah I know and it sucks! And no I'm not renting out my house due to horror stories about damages and my mother and I simply do not have the money for repairs. I'd rather suffer by walking away with deed of lien IF short sale did not work out. The house isn't in a great shape, and the market isn't so good either so it makes selling this house very difficult. Please help, advise what should I do? I prefer finding a good car, and low payment like $200 or $250. That's all I can afford. I'm done paying $935 a month on the $105K house. And my balance I owe is $101K. It's crazy! Thanks so much.

Ten year mortgage rates have a fixed interest rate slightly lower than 15-year or 30-year mortgages, which as of July 2010 are just below 4%. The 10-year mortgage gives great ...

Fixed 10 year mortgages, with lower interest rates, result in lower overall loan prices. Compare monthly payments and rate of equity growth for 10 and 30 year loans

A 10 year mortgage might be the right program for you. 10 Year fixed rate loans tend to be the lowest of all fixed rate products.

Mortgage rates fell to a new record low, but borrowers may find costs are higher than ... 10 year fixed; 15 year fixed; 20 year fixed; 30 year fixed; 30 year FHA; 15 year fixed refi

Treasuries reliably predict the direction of mortgage rates, but not the size of the move.

A 10-year fixed mortgage is a mortgage loan that keeps the same rate of interest throughout the loan's 10-year life. In most cases, fixed-rate mortgages are fully amortizing ...

10 year fixed mortgage rate at Daylight Discount Mortgage. Your resource for 10 year refinance mortgage rate, 10 year fixed mortgage, 10 year mortgage rate, ten year mortgage ...

10 year adjustable rate mortgage info at www.ForTheBestRate.com. Research 10/1 arm, 10 year ARM rates, and ten year adjustable rate mortgage products

Have you considered a 10 year mortgage? The benefits can be huge.

Information on 10 year fixed rate mortgages including mortgage companies and mortgages by state. Mortgage Info is your complete 10 year FRM guide.

Treasury bond yields, which influence the home-loan rates, have surged since Tuesday. Mortgage rates fell for the 10th time in 11 weeks, setting fresh record lows, Freddie Mac reported Thursday. But a rebound in Treasury yields in the last two days raises the possibility that home-loan interest costs won't fall again next week.

U.S. mortgage rates fell in the past week to the latest in a series of record lows as yields on government debt dropped, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.

JACKSON, MS (WLBT) - Mortgage buyer Freddie Mac reported Thursday that rates have once again struck an all-time low, dropping 10 times in the past 11 weeks.

(AP:WASHINGTON) Mortgage rates fell to the lowest level in decades for the tenth time in 11 weeks, as investors worried about the economy. Mortgage buyer Freddie Mac says the average rate for a 30-year fixed loan was 4.32 percent this week, down from 4.36 percent last week.

RECORD LOWS: Mortgage rates fell to the lowest levels in decades for the tenth time in 11 weeks, mortgage buyer Freddie Mac said Thursday. The average rate for a 30-year fixed loan was 4.32 percent. The 15-year fixed loan hit 3.83 percent. WORRIES ABOUT... Mortgage - Freddie Mac - Business - Loan - Financial Services

At the moment, Minnesota Housing, which helps an average of 2,300 first-time buyers find homes each year, is offering interest rates as low as 3.75 percent on a 30-year fixed rate mortgage.

US mortgage rates hit another record low: Freddie MacUS mortgage rates hit another record low: Freddie Mac

The mortgage giant quietly launches the HomePath program, which offers subprime-era terms for buyers: minimal down payments, no appraisals, no mortgage insurance and lower minimum credit scores. If you're a buyer with little cash or a small-scale investor looking for a deal on a foreclosed house, a little-publicized national lending program could be just what you need this fall.

The federal government now requires lenders to stand by the good-faith estimates they provide to mortgage applicants or face fines. Mortgage closing costs may look as if they've skyrocketed, but it would be more accurate to say that they've just gotten real.

Mortgage rates moved lower this week, with the average conforming 30-year fixed mortgage rate hitting another record low of 4.53 percent, according to Bankrate.com's weekly national survey.