Tag Archives: federal reserve

In October, Consumer Borrowing Made Its Largest Jump In More Than Two Years

Consumer borrowing does not include mortgage loans. It includes student loans, credit cards, and the like. As I reported here, banks are sending out many more credit card applications, including to people with less than stellar credit. Since 2008, Americans … Continue reading

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Yisroel Pensack: Why Economists Cannot Think Clearly About Economics

The “Economix” blog at The New York Times today features an article headlined “Interest Rates and the Housing Cycle” by Casey B. Mulligan. Mulligan, an economics professor at the John D. Rockefeller-founded University of Chicago (read: citadel of privilege), treats … Continue reading

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Finding The Best Mortgage Deals

Rupert Jones writes for the Guardian of London: Where can you find the best mortgage deals? There was a similar message from financial website Moneyfacts.co.uk, which said on Tuesday that of the 20 best home loans for someone looking for … Continue reading

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Mortgage Recovery To Be Slow

WASHINGTON (Reuters) – The U.S. mortgage market will recover slowly from a wave of bad loans that threw broader financial markets into crisis and the lending system will need repairs, Federal Reserve Governor Randall Kroszner said on Thursday. "Recovery in … Continue reading

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Mortgage Market Repair Will Be Slow

WASHINGTON (Thomson Financial) – Repair and recovery of the U.S. mortgage markets will be a gradual process that demands both market and regulatory discipline, Federal Reserve Governor Randall Kroszner said today. ‘Greater transparency and less complexity in credit instruments will … Continue reading

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Refinancing Your Mortgage

From Ohio.com: It was designed as a primer for people who might find in a period of high housing inventory and low mortgage rates, that it’s the right time to buy a home. But we also strove to give step-by-step … Continue reading

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Refinance Mortgage Demand

CHICAGO (Reuters) – A new policy on mortgage down payment requirements from Fannie Mae (FNM.N: Quote, Profile, Research) is "sound," and could help unleash pent-up demand, James Lockhart, director of the Office of Federal Housing Enterprise, said on Friday. "There … Continue reading

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Refinance Solutions – Expand The FHA

The Milwaukee Journal Sentinel says the FHA should have a bigger role. It backs Barney Frank’s new legislation passed by the House. About 1.5 million homes were foreclosed on last year and there should be at least 2 million this … Continue reading

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Adjustable Rate Mortgages

Mortgage consultant Peter Boutell writes that borrowers assume the risk when they take on an ARM. You’ve probably heard about balloon payments. If you haven’t paid off your loan by a certain date (after three to five years), you’ll have … Continue reading

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Fixed-Rate Interest Rates Rise Again

The rates on 30-year mortgages have a seven-week high. They are above 6%. Inflation and a weak dollar are growing problems along with the sluggish economy. The AP says: WASHINGTON (AP) — Rates on 30-year mortgages remained above 6 percent, … Continue reading

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