Tag Archives: rising interest rates

Rising Interest Rates Slow Refinancing

This means less profit for lenders as they write fewer mortgages. Wells Fargo has just released better-than-expected results. It still has a significant downside with foreclosures and increased regulation and government scrutiny. Many banks are still fighting fires instead of … Continue reading

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Mixed News On Housing

Thirty year fixed rate mortgages now carry an interest rate of 4.81%. That’s almost half a percentage point above the low last October. These rising interest rates have reduced mortgage applications and cut apps for refinancing. The Washington Post reports: … Continue reading

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Era Of Low Mortgage Rates May Be Over

In 2010, mortgage rates were at their lowest point in six decades, not that it did the housing market that much benefit. If people don’t have jobs, low interest rates are not going to get them to buy a home. … Continue reading

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Home Prices Plunge In Big Cities

I expect a 10% decrease in home prices in 2011. Declines are sharpest in big cities. In 2011, there will be fewer people buying homes due to rising interest rates and high unemployment. At the same time, millions of foreclosed … Continue reading

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Housing Market Braces For 10% Decline In 2011

The American housing market remains in a vicious cycle of surplus houses coming to market, declining prices, declining home equity, increasing number of homes going underwater, more foreclosures and the cycle repeats. The number I keep hearing is 10% for … Continue reading

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The Tax Deduction For Mortgage Business

Fox Business Network. 9:23 a.m. They say that cutting back the mortgage interest deduction for wealthier taxpayers is likely. Fannie Mae and Freddie Mac underwrite 90% of new mortgages. Fannie and Freddie are likely to be overhauled and Republicans will … Continue reading

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Banks Warned To Prepare For Higher Interest Rates

The Federal Reserve has kept interest rates artificially low for most of the past decade. That is what caused the housing boom and bust. Rising interest rates would lower home values and cause more foreclosures, which in turn lower. home … Continue reading

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Mortgage Rates Up

From San Diego: As if the local housing market weren’t bad enough, there’s another storm cloud on the horizon: rising mortgage rates. The interest rates for 30-year, fixed-rate mortgages averaged more than 6.4 percent last week, rising from 6.3 percent … Continue reading

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Britain’s Brutal New Mortgage Market

From the Times of London: New mortgage approvals slumped to 58,000 in April, 49% down on a year earlier, and easily the lowest on record. It is important not to confuse the number of mortgage approvals with the level of … Continue reading

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Aussie Lenders Want Government Help

From the Australian: CHALLENGER chief executive Mike Tilley has warned borrowers may be forced into paying higher interest on mortgages unless the federal Government provides some support to lenders struggling under the weight of bad debts. Mr Tilley said the … Continue reading

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