Mortgage rates have been at historical lows since 2008 following the financial crisis, but the consensus is that they will rise; it’s just a matter of how much and when.
Bank of America’s much-anticipated settlement with the U.S. Justice Department over fraudulent mortgage securities the bank sold to investors is less punitive than the $17 billion price tag suggests and does not address the wrongs it purports to remedy.
Bank of America and DOJ Near $17 Billion Settlement Over Mortgage Securities
The Washington Post | August 20, 2014
Final terms are almost in place for the record $17 billion settlement between Bank of America and the Justice Department over allegations that the nation’s second-largest bank knowingly sold faulty mortgage securities. The settlement will be the largest penalty ever paid by a single company, eclipsing the $13 billion deal that JPMorgan Chase struck with the department last year over similar charges.
How to Play the Housing Recovery: Pros
CNBC | August 19, 2014
New positive housing data show the consumer environment is still healthy and some of the concerns about the housing recovery are misplaced, investment pros told CNBC on Tuesday.
Mortgage Applications Rose Last Week as U.S. Refinancing Climbed
Bloomberg | August 20, 2014
The Mortgage Bankers Association’s mortgage application index rose 1.4 percent in the period ended Aug. 15 after declining 2.7 percent in the prior period.