The interest rate of 30-year mortgages averaged 6.63% this week. In the last week the rate was 6.26%. The rates are increasing continuously for he last three weeks now. The interest rate will be hiked by Federal Reserve as the present condition shows a mixture of weak housing market, and rising inflation. The interest rate […]
Fannie Mae and Freddie Mac were created by Congress to help more Americans buy homes. Now their shaky condition threatens the entire housing market.Fannie Mae and Freddie Mac owns $5 trillion mortgage value, which is half of the country’s total outstanding home loan debt. Now, when these behemoths shows signs of weakness, then where should […]
Shares of Fannie and Freddie Mac are on a wild run, thanks to the anxiety surrounding these two behemoths. Both the firms’ recovery is very crucial for the economy as well as the housing market in the U.S.Investors shied away from the stock as they speculated a bailout by the government which would wipe out […]
Feds seize bank - once a leading mortgage lender. It may turn out to be most expensive collapse ever. One thing is sure: The credit crisis is still with us.IndyMac is down. Fed has seized this once a leading mortgage lender. This shows that the credit crisis is still looming over the heads of the […]
The whole U.S. is seeing new loans and more refinancing as the prices of loans are declining. Price of 30-year fixed-rate mortgage is declining and alongside generating more and more loans and refinancing.When the week ended in June 27, both for the delight of the mortgage professionals as well as homeowners, the number of application […]
