The rate-indicative 10-year Treasury yield has fallen below the psychologically important 4% level, according to Yahoo! Finance.Bear Stearns researchers said the decline in the benchmark yield for long-term rates resulted in part from the Federal Open Market Committee's decision Sept. 21 to raise the target short-term federal funds rate and accompanying comments by the committee indicating that inflationary pressures appeared to have diminished somewhat. "The market seems to be emphasizing the potential economic impact of Fed funds, with a drop in funds pushing inflation risk up and a boost in funds bringing it down," Bear Stearns' financial analytics and structured transactions researchers said in a recent report.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
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Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
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