Housing Crash

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Housing Crash
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Mortgage Firm Files for Bankruptcy Amid Housing Market Deep Freeze

(Bloomberg) — Starwood Capital-backed home lender Reverse Mortgage Funding LLC filed for Chapter 11 bankruptcy, the latest company to succumb amid a rapid run-up in mortgage rates. The company, which makes reverse mortgages, listed assets and liabilities of at least $10 billion each in its bankruptcy petition. Chapter 11 bankruptcy allows companies to keep operating […]

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Home Mortgage
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Mortgage Refinance

US Mortgage Rates Plunge for a Second Week, Hit Two-Month Low

(Bloomberg) — US mortgage rates retreated sharply for a second week, hitting a two-month low and providing a bit of traction for the beleaguered housing market. The contract rate on a 30-year fixed mortgage decreased 23 basis points to 6.67% in the week ended Nov. 18, according to Mortgage Bankers Association data released Wednesday. Rates […]

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Fed Sees Risk of Big Declines in Still-Lofty US House Prices

(Bloomberg) — The Federal Reserve suggested on Friday that lofty home prices could be susceptible to steep declines after big run-ups in recent years on the back of ultra-low interest rates. “With valuations at high levels, house prices could be particularly sensitive to shocks,” the Fed said in its semiannual Financial Stability Report released Friday. […]

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