Applications for U.S. home mortgages rose last week as demand for refinancing increased, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 1.4 percent in the week ended August 15.
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A statement from the office of the British Prime Minister David Cameron revealed that 6,000 mortgage applications, with over 80% of them as first-time buyers, applied for home loans under the government's Help-to-Buy program.
Without government backing, Citigroup is now offering mortgage backed securities backed by prime jumbo mortgages mortgages from private sources.
The Manhattan State Supreme Court finally got Bank of America set for trail with its US$8.5 billion settlement with home loans bundled into securities.
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