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BofA Acquires Seattle Mortgage Unit (AP via Yahoo! Finance)   Bank of America Corp. said Friday it completed its buyout of Seattle Mortgage Co.'s reverse mortgage business. Financial terms of the deal were not disclosed. Seattle Mortgage is an


GMAC spent $410,000 lobbying on mortgage rules (AP via Yahoo! Finance)   Automotive and mortgage lender GMAC LLC spent $410,000 in the first quarter lobbying on several bills related to mortgage lending and other issues, according to a disclosure report.read more...


Mother not really sure where to turn  Carol Conway won't even pick up the phone these days. She knows the caller on the other end isn't likely to be a friend wishing 'Merry Christmas,' but a creditor


Sometimes paying off mortgage doesn't help (Portsmouth Herald)  Q: I would like to know if it would be wise for me to pay off my mortgage. My husband and I are both 77, and he is in a


Annual Fund Honor Roll Gives Some Good Options  read more...


Building Business Booming  Author: Abi Ray Posted On: Wednesday, June 16, 2004 Workers in one business say building houses is building up their pocketbooks.via

June 1st, 2007

Mortgage Rates Rise for Third Week

“Recent reports have indicated that economic growth outside of the housing market remains robust with a healthy consumer sector and improving business spending”

Rates on 30-year mortgages rose for a third straight week, hitting the highest level in eight months.

Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.42 percent in its nationwide survey this week.

That was up slightly from 6.37 percent last week and represented the highest point for 30-year mortgages since they averaged 6.43 the week of Sept. 14.

Analysts attributed the increase to signs of economic strength outside of housing such as the April rise in orders for big-ticket manufactured goods. Read more



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