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Average US 30-year mortgage rises to 4.48 percent (access required)

WASHINGTON  — Average U.S. rates for fixed mortgages crept higher this week but remained low by historical standards. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan increased to 4.48 percent from 4.47 percent last week. ...

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PNC paying $35M to resolve loan claims (access required)

WASHINGTON  — PNC Financial Services Group is paying $35 million to resolve government claims of discrimination in residential loans against a Cleveland-based bank that PNC bought in 2009. The agreement announced Monday by the Justice Department and the Consumer Financial ...

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5 ways Fed’s influence has expanded over 100 years (access required)

WASHINGTON  — The press called it an early Christmas present for President Woodrow Wilson: On Dec. 23, 1913, Congress passed legislation creating the Federal Reserve. Hours later, Wilson signed the Federal Reserve Act into law. No one at the White ...

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US mortgage applications tumble to a 13-year low (access required)

WASHINGTON — The number of Americans applying for mortgages has fallen 63 percent since a May peak, reflecting a cooling housing market and higher borrowing rates. The Mortgage Bankers Association says applications fell a seasonally adjusted 6.3 percent last week ...

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Vegas mortgage fraud scheme mastermind sentenced (access required)

LAS VEGAS — The mastermind of a Las Vegas mortgage fraud scheme has been sentenced to just over 11 years in prison. U.S. District Judge Gloria Navarro handed down the sentence Wednesday to 60-year-old Lloyd Gardley, who pleaded guilty in ...

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