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Home Loans News

Interest rate lowered on rural home loans (The Buffalo News)
The U.S. Department of Agriculture Rural Development Agency has reduced its interest rate on direct home loans for low-income rural New Yorkers.

Increase in arrears on finance firm home loans (Stuff)
Arrears on home loans funded by residential mortgage-backed securities have increased to 2.98 per cent in February from 2.86 per cent a month earlier according to Standard & Poor's Rating Services.

GMAC Has $305 Million 1st-Quarter Loss on Home Loans (Update5) (Bloomberg.com)
May 2 (Bloomberg) -- GMAC LLC the finance company partly owned by General Motors Corp. said it had a $305 million first- quarter loss and injected $1 billion into its home-lending unit amid a ``sharp downturn'' in the U.S. mortgage market.

GMAC Has $305 Million 1st-Quarter Loss on Home Loans (Update2) (Bloomberg.com)
May 2 (Bloomberg) -- GMAC LLC the auto and home lender formerly wholly owned by General Motors Corp. reported a $305 million first-quarter loss on a ``sharp downturn'' in the U.S. mortgage market.

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