Bank of America to buy Country Wide

CHARLOTTE, N.C. –Bank of America said Friday it will buy Countrywide Financial for $4.1 billion in stock, a deal that rescues the country’s biggest mortgage lender and expands the financial services empire of the nation’s largest consumer bank. The acquisition will make Charlotte-based Bank of America Corp. the nation’s biggest mortgage lender and loan servicer. […]

Mortgages rates drop to low last seen in 2005

The benchmark 30-year fixed-rate mortgage plunged 26 basis points, to 5.88 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week’s survey had an average total of 0.35 discount and origination points. One year ago, the mortgage index was 6.24 percent; […]

Historical Home Price ROLLER COASTER!

US Home Prices, adjusted for inflation, from 1890 to Present, represented as a roller coaster!

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