Congress's proposed plans to phase out government-backed mortgage giants Fannie Mae and Freddie Mac will almost certainly mean higher mortgage rates for consumers.
With signs of vigor returning to the real estate market, it's easy to miss the other reality: Many people got stuck with terrible mortgages during the boom years and the Obama administration says they still need help.
The value of the benchmark 10-year Treasury note is down, amid signs the U.S. economy is gathering strength. The yield is up to 2.14 percent, and 30-year mortgage rates are inching close to 4 percent, the highest in a year.
Domestic migration, when you move from one place in the country to another, plunged in the aftermath of the 2008 financial crisis. Now things are looking up.
Starting today, checks are on the way to victims of wrongful foreclosures as part of a $3.6 billion settlement between banks and federal regulators. But for most of those borrowers, it won’t exactly be Christmas in April.
