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Current Mortgage Rates Today – HSBC lowers rates while KeyBank raises them

ARM Chart

(Best Syndication News) Mortgage interest rates were nearly unchanged today as secondary lenders post mixed required net yield rates (see the mortgage rate charts below). Bank of America and HSBC lowered their loan rates while KeyBank and SunTrust raised them.

Benchmarks

Stocks advanced Thursday after the U.S. Department of Labor released a better-than-expected initial jobless claims number. The Labor Department said that 370,000 Americans filed for initial jobless claims last week. That is 25,000 fewer than the previous week and below analyst expectations of 385,000.

Current Mortgage Rates Today – PNC and Wells Fargo Lower Rates

15-Year Mortgage Rate

(Best Syndication News) Mortgage interest rates slipped as equities sank and then advanced later in the session (see the mortgage charts below). Nearly all of the major banks, including JPMorgan Chase, KeyBank, Bank of America, and Wells Fargo, lowered their loan rates.

Benchmarks

The Dow muddled around the par mark throughout the day before closing slightly higher by the closing bell. Factory orders and a positive service index figure helped stave-off fiscal cliff fears – at least temporarily. The three major stock indexes moved lower but shifted higher mid-morning before leveling-out throughout most of the day.

Current Mortgage Rates Today – Bank of America and Citibank Lower Loan Rates

VA Loan Rate

(Best Syndication News) Mortgage interest rates trended lower today as secondary lenders competed in the capital markets (see the mortgage rate charts below). JPMorgan Chase, KeyBank, Bank of America, and Citibank were among the banks lowering their rates.

Benchmarks

Pessimism spread through the equity markets as very little progress was made in Washington concerning the fiscal cliff. The Whitehouse rejected a proposal by Republicans prompting House Speaker John Boehner to tell reporters that the ball is back in President’s court.

Current Mortgage Rates Today - U.S. Bank and SunTrust raise their rates

FHA Chart

(Best Syndication News) Mortgage interest rates were higher today after investors and secondary lenders assessed new economic reports (see the mortgage rate charts below). SunTrust, U.S. Bank, JPMorgan Chase, and KeyBank were among the banks making changes.

Benchmarks

Good news concerning manufacturing in China provided early confidence for Wall Street traders, but a negative number from the United States deflated the optimism. Lingering fiscal cliff worries also weighed on stocks throughout the session.

Fannie Mae and Freddie Mac halt Foreclosed Property Evictions until after Holidays

House and calendar - BSN

(Best Syndication News) - Fannie Mae and Freddie Mac announced that they would halt evictions during the holidays.

The Federal National Mortgage Association (OTC:FNMA) will halt evictions from foreclosed single family and 2-4 unit properties between December 19, 2012 and January 2, 2013. Similarly, the Federal Home Loan Mortgage Corp (OTC:FMCC) announced a nationwide halt to evictions between December 17, 2012 and January 2, 2013 for single-family homes and 2-4 unit properties.

Fannie Mae and Freddie Mac said that during this temporary pause, the families living in these properties will not be evicted. However, the legal and administrative proceedings will continue and the eviction process may continue during this period, but the actual evictions will be postponed.

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