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News
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Financial News
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CHARLOTTE, N.C. , Nov. 30, 2011 /PRNewswire/ -- Average mortgage rates rose slightly week-over-week according to the LendingTree Weekly Mortgage Rate Pulse, which tracks the lowest and average mortgage rates offered by lenders on the LendingTree network. LendingTree also today announced the "Top Ten Lenders" on its network, based on customer reviews. These lenders have provided customers with exceptional customer service combined with the lowest mortgage rates available.On November 29 , average mortgage rates offered by LendingTree network lenders were 4.30 percent (4.58% APR) for 30-year fixed mortgages, 3.59 percent (4.03% APR) for 15-year fixed mortgages and 3.24 percent (3.51% APR) for 5/1 adjustable rate mortgages (ARM), showing little change from the previous week. [Read the full article]
WASHINGTON Nov 30 (Reuters) - A group of Democrats in the U.S. House of Representatives on Wednesday pressed the regulator of Fannie Mae and Freddie Mac to explain why the agency has blocked the two housing finance providers from reducing mortgage balances for borrowers who owe more than their homes are worth. "For too long now, we have heard superficial excuses about why principal reduction programs are not feasible at Fannie Mae and Freddie Mac, despite a growing chorus of economists and other experts who believe these programs serve the long-term interests of taxpayers," Representative Elijah Cummings, the top Democrat on the House Government Oversight Committee, said in a statement. Cummings and the 16 other Democrats on the panel voiced their concerns in a letter to the Federal Housing Finance Agency, which oversees the two government-controlled finance firms. FHFA acting director Edward DeMarco told the panel on Nov. [Read the full article]
WASHINGTON , Nov. 30, 2011 /PRNewswire/ -- Fannie Mae's (OTC Bulletin Board: FNMA) October 2011 Monthly Summary is now available at www.fanniemae.com/ir/monthly. The monthly summary report contains information about Fannie Mae's monthly and year-to-date activities for our gross mortgage portfolio, mortgage-backed securities and other guarantees, interest rate risk measures, serious delinquency rates, and loan modifications.Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America. [Read the full article]
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