More Arizonans can refinance under plan - Many homeowners will be able to find out next week how to seek refinancing, no matter how underwater they are on their mortgages. The new program, as laid out by the president, would be open only to homeowners who are current on their payments or have missed no more than one in the past year. It applies only to those with mortgages backed by government-owned mortgage giants Fannie Mae and Freddie Mac, but the two entities back more than half of all mortgages, meaning many homeowners are likely eligible. Read article:
http://www.azcentral.com/business/articles/2011/11/10/20111110more-arizonans-can-refinance-underwater-mortgages-under-new-plan.html
30-Year Fixed-Rate Mortgage Averages 3.99 Percent - Freddie Mac's Primary Mortgage Market Survey showed average mortgage rates changing little from the previous week amid a mix of economic data reports as the 30-year fixed-rate mortgage averaged 3.995, dropping below 4.00% for the second time this year. The 30-year fixed averaged 3.94% in the October 6, 2011 survey. 30-year fixed-rate mortgage (FRM) averaged 3.99% with an average 0.7 point for the week ending November 10, 2011, down from last week when it averaged 4.00%. Last year at this time, the 30-year FRM averaged 4.17%. Read article:
http://realtytimes.com/rtpages/20111111_rates.htm
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