Tag Archives: term mortgages

Mortgage Rates At Record Lows

Why are mortgage rates so low? Because demand is so weak for mortgages. With economic prospects uncertain, fewer Americans than is normal are in the market for a mortgage, so it is in lender’s interest to make their mortgages as … Continue reading

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Refinancing Your Mortgage Loan To A Shorter Term

Shorter-term mortgages are increasingly popular. Now people are even refinancing into a shorter-term mortgage. Such mortgages come with lower rates than the traditional 30-year mortgage. From LATimes.com: Freddie Mac chief economist Frank Nothaft calls the shift to shorter terms “a … Continue reading

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What The New Mortgage System Will Look Like

I hope it will be a system where the government stops forcing lenders to lend out money to people who are bad credit risks. To meet arbitrary lending rules for minorities and the poor, lenders had to cut lending standards … Continue reading

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Home Mortgage Rates Hit Their Lowest In Decades

But to take advantage of the new low rates, you have to have sterling credit. Lenders have learned their lesson from subprime loans and are making credit much more expensive for those with credit scores under 650. Rates have dropped … Continue reading

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What Will Mortgages Look Like?

Robert J. Shiller writes: We need to innovate, with the creation of “continuous-workout mortgages.” Such mortgage contracts, when originally signed, would specify a program for steady adjustment of the balance and payment schedule over the life of the mortgage, enabling … Continue reading

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Higher Fees For Mortgages

Bob Tedeschi writes: MORTGAGE rates are typically driven by the financial market’s outlook for long-term interest rates, but not always. Policy changes at Fannie Mae and Freddie Mac, the two government-sponsored companies that buy most mortgages issued by United States … Continue reading

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Mortgage Rates Rise

From the San Jose Mercury News: Interest rates for long-term mortgages rose this week to their highest levels since March, pushed up by the threat of inflation. The national average interest rate for 30-year, fixed-rate mortgages increased to 6.08 percent … Continue reading

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Mortgage Rates Rise

From bizjournals.com: Mortgage rates at Hawaii‘s four largest banks rose this week, along with the national average rate for a 30-year fixed-rate loan, amid concerns about inflation. American Savings Bank, Bank of Hawaii and First Hawaiian Bank each offered a … Continue reading

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The Three-Year Mortgage Fix

From thisismoney.co.uk: The cost of three-year fixed rate mortgages has plunged – making them an increasingly popular choice for homebuyers. With fees on home loan deals rising – the cheapest are now around £1,000 – homeowners are opting for medium-term … Continue reading

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Canada/Italy Deal With The Refinance Blues

Rates are coming down in Canada. The CBC writes: Bigger cuts apply to shorter-term mortgages. BMO’s one-year closed mortgage drops 8/10ths of a percentage point to 6.15 per cent. Its two- and three-year closed mortgages tumbled by 0.85 of a … Continue reading

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