Mortgage News

Household debt in Canada hit a new all-time high in the just completed third quarter, but the tiny increase from the previous quarter suggests Canadians are reaching their limit on borrowing.

The Bank of England's chief economist Spencer Dale says Britain's housing market is like a microwave that turns "from lukewarm to scalding hot in a few economic seconds".

The United States may add Wells Fargo & Co Vice President Kurt Lofrano as a defendant in its year-old lawsuit accusing the country's largest mortgage lender of fraud, a Manhattan federal judge said.

Bank of Canada governor Stephen Poloz says he remains focused on achieving his inflation target over the next two years and hasn't been sending signals that would depress the Canadian dollar in order to boost exports.

Metro Vancouver apartment vacancy rates are down slightly to 1.7 per cent and monthly rents have climbed $10 to $20 from a year ago, according to a new survey.

The Detroit automaker said Thursday it expects to record a gain of $500 million from the deal in its fourth-quarter earnings.

Merrill Lynch has agreed to pay $131.8 million to settle U.S. civil charges that it misled investors about risky mortgage bonds it sold ahead of the 2008 financial crisis.

Merrill Lynch has agreed to pay 131.8 million dollars to settle US civil charges that it misled investors about risky mortgage bonds it sold ahead of the 2008 financial crisis.

Average U.S. rates for fixed mortgages eased slightly this week, remaining near historically low levels.

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Stanley Fischer, who led the Bank of Israel for eight years until he stepped down in June, has been asked to be the Federal Reserve's next vice chair once Janet Yellen takes over as chief of the U.S. central bank, a source familiar with the issue said on Wednesday.

The agreement on the federal budget was good for business confidence, Dimon said at an investor conference in New York, adding he would send thank-you notes to congressional leaders.

While foreclosures remain a concern in select states, the number of U.S. homes entering the path to foreclosure or winding up repossessed by lenders has fallen to levels not seen in more than six years.

The signing of the order Wednesday marks the court's formal approval and a major milestone in the bankruptcy of the troubled mortgage lending and service company.

Having a bank turn you down for a loan really sucks, I can tell you from experience.

Star Exemption: The deadline is approaching for applying for the Star Exemption.

Tesco looks to capitalise on the PR problems facing the banking industry as it creates hundreds of jobs to carry out its plans.

A former California lawyer has pleaded not guilty to federal charges that he lent his law license to others in connection with a fraudulent $12 million mortgage modification scheme.

"My team and I tested the banks' compliance with the National Mortgage Settlement's original 29 metrics for the first half of this year," said Joseph Smith, monitor of the organization, in a December 4 oversight update .

The Department of Housing and Urban Development announced on Friday that it will lower the loan limits for its Federal Housing Administration mortgage - a loan used by many first-time and lower-income home buyers - from $729,750 to $625,500.