Daily News 12/26/14
December 26, 2014
Friday – December 26
With the end of the year drawing close, headlines are riddled with forecasts of the upcoming year. Today, Wall Street trading is positive while die hard investors push stocks higher. Mortgage Bonds remain flat and are not expected to have much movement all day.
This year has seen a 5% growth in the U.S. Economy. For the first time in several years, the majority of Americans are feeling confident in our recovery. Freddie Mac’s recently released MiMi report found the housing market stabilizing at year’s end, although still weak. The index showed a 4.48% improvement from a year ago.
The Federal Housing Administration announced enhancements to the Home Affordable Modification Program. Subject to U.S. Treasury guidelines, borrowers may be eligible to earn $5,000 in the sixth year of their performing loan modification. This incentive is in conjunction with other annual incentive payments during the first five years of loan modifications that are performing. These incentives could reduce an FHA borrower’s unpaid principal balance by as much as $10,000.
