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Growing threat hangs over legacy mortgage bonds

Investors including US mortgage giant Fannie Mae holding decade-old residential mortgage bonds are fretting over potentially huge losses on securities where delayed foreclosures could lead to complete write-offs on defaulted loans. “If a foreclosure runs afoul of the statute of limitations, it's a problem,” said Bruce Bergman, a partner at Berkman Henoch Peterson Peddy & Fenchel, a New York law …

Average rate on 30-year mortgage falls to 3.66 pct.

WASHINGTON (AP) — Average long-term U.S. mortgage rates fell for the third straight week, with the benchmark 30-year rate again marking its lowest level since May 2013. The average for a 15-year mortgage, a popular choice for people who are refinancing, dipped below 3 percent for the first time since then.

30-year-mortgage Rate Falls To 3.66%

The average rate for a 30-year fixed-rate mortgage fell to 3.66% in the week that ended Jan. 15, hitting the lowest reading May 2013, from 3.73% in the prior week, according to a Thursday report from federally controlled mortgage-buyer Freddie Mac .

Mortgage Rates Decline for Third Consecutive Week

Freddie Mac today released the results of its Primary Mortgage Market Survey® , showing average fixed mortgage rates falling for the third consecutive week as bond yields continued to drop despite a strong …