Tag Archives: percentage point

US Mortgage Bonds Hit Six Months Low

President Obama’s plan to allow millions of underwater homeowners to refinance their mortgages will have a mixed effect on the mortgage market in particular and the economy in general. It’s not even clear if this move will stimulate the economy. … Continue reading

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U.S. Mortgage Applications Fall

Despite all the incentives to buy a home, fewer people in America are employed and there’s not much demand for mortgages. And there’s not much demand by lenders to lend except to people with the highest credit ratings. Borrowing costs … Continue reading

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Refinance Mortgage Applications Way Up

Reuters says there’s a rush by tens of thousands of homeowners to refinance. They want to assure themselves of low fixed-rates for their mortgages. Average 30-year U.S. mortgage rates edged up 0.03 percentage point to 4.73 percent last week, slightly … Continue reading

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Canadians Paying More For Mortgages

Report: The latest victims of the growing financial crisis could be the standard discount available to consumers on variable mortgages, and home equity loans at prime. In a move expected to be followed by other banks, all of which have … Continue reading

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Some Questions For Your Mortgage Lender

From thestreet.com: Here are nine questions you should ask your lender, or prospective lenders, before you make your application: 1. What type of loan are you offering? Loan types include: Fixed rate: The interest rate is fixed over the life … Continue reading

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Solving The Mortgage Crisis

From Barrons: WHAT DO YOU CALL A PERSON WHO OWES MORE ON HIS MORTGAGE than his house is worth? Absurdly, the payments still are designated tax-deductible interest (mostly) and repayment of principal (a tiny fraction). To solve the mortgage crisis, … Continue reading

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Refinance: Getting the Big Loans

The Washington Post reports: The gears of the mortgage market are starting to unlock for borrowers needing big loans. Last week, for example, BB&T was offering 30-year, fixed-rate mortgages for a conforming loan, which is for $417,000 or less, at … Continue reading

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Refinancing With A Fixed Fee

Bob Tedeschi writes for the New York Times: FOR many borrowers, adjustable-rate mortgages, or ARMs, are too risky, even though the interest on such loans is usually fixed for 5 or 7 years at a rate lower than that offered … Continue reading

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Refinance Crisis: Winners and Losers

Federal banks around the world are cutting rates to try to stave off recession, but banks aren’t always passing on these lower rates to borrowers. With a recession looming, banks are increasing the spread between what they pay to borrow … Continue reading

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Mortgage Applications Down

After skyrocketing for months, mortgage applications are down. Reuters reports the latest news: Mortgage applications plunged last week, largely reflecting a drop in demand for home refinancing loans, although 30-year fixed-rate mortgage rates remained below 6%, an industry group said … Continue reading

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