Tag Archives: low interest rates

Dow Jones Near Record Highs, Mortgage Rates Stay At Record Lows

A lack of demand for new mortgages is keeping rates around record lows, under 4% on 30-year fixed rate mortgages for folks with great credit scores. There’s yet to be an uptick in home sales as a result of these … Continue reading

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Bank Of America Overwhelmed By Refinancing Demand

A new government program to boost mortgage refinancing is overwhelming some banks such as Bank of America. That bank has been telling some customers to wait 90 days before applying for a refinance. Banks have to staff up to handle … Continue reading

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Another Obama Stimulus For The Housing Market

This one appears to have as much chance for success as his previous plans — tiny! The more the government intervenes in the housing market, the more it mucks up the workings of the free market and delays the market … Continue reading

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Mortgage Interest Rates, Home Sales Rise

These two indicators often run together. With increased demand for home buys and mortgages, interest rates rise. With fewer people interested in buying homes and taking on mortgages, interest rates fall. Record low interest rates have not been enough to … Continue reading

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Mortgage Applications Decline Despite Record-Low Interest Rates

Potential borrowers do not seem that excited by the lowest mortgage rates on record since the 1940s. Mortgage applications are actually declining, not rising. Refinance applications are also declining. Report: The number of mortgage applications filed in the U.S. last … Continue reading

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Low Borrowing Costs Have Yet To Boost Housing Market

The experts I hear on the business news channels expect another 10-15% decline in home prices over the next 12 months. This discourages people from buying because they think, why should I buy now when I can get a similar … Continue reading

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The New Obama Plan To Refinance Mortgages

President Obama Thursday night announced a plan to expand access to mortgage refinance. Why would government intervention be needed here? Because the private sector has no incentive to refinance mortgages on homes that have negative equity. So we get more … Continue reading

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Another Mortgage Refinance Plan

Another day, another plan from Washington to fix the housing crisis. So far all the government efforts to turn around the housing industry have had either negligible effect, no effect or a negative effect. But politicians don’t care so much … Continue reading

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Look To REITs For High Yields

Want a high yield for your investment dollars? Look into mortgage REITs. What is a REIT? It is a real estate investment trust. Mortgage REITs own mortgages, not real estate. How do such REITs make money? Report: “Most mortgage REITs … Continue reading

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Mortgage Rates Plunge

Part of the cause of the housing boom was low interest rates. They encouraged many people on the margins to take a risk and to take out a mortgage. Because mortgage interest is deductible, many people took out home equity … Continue reading

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