The Federal Reserve has cut interest rates again- this time by three quarters of a percentage point. But will not help in reducing the mortgage rates? It may happen otherwise and home loan rates may rather go up. In January when he Fed cut the interest rates, the 30-year fixed mortgage rate jumped to 6.4% […]
In a bid to prevent future housing problems, White House wants to make the terms and conditions easier to understand for the borrowers in a new proposal. This proposal aims to end the housing market crisis that has taken a toll on the U.S. economy.
Now as a borrower, you will be able to get easier […]
As the housing crisis worsen, the likelihood of homeowners defaulting on the mortgage payment increases. In such situation, Fitch Rating may cut its ratings on securities backed by alt-A mortgages. The downgrade will be on $160 billion in such securities. This will eventually involve more writedowns by the financial institution holding such securities.
According to Fitch, […]
According to Freddie Mac, the long-term fixed mortgage rates are increasing, whereas the average adjustable-rate mortgage rates are still to reach the level it was earlier on. So due to this difference in this two rates, adjustable rates may become popular among the mortgage seekers. Freddie Mac has said that because of he widening gap […]
The plunge in home prices is still continuing. In the last three months of 2007, the drop in prices set a record of highest-ever quarterly drop. The national median price dropped from $219,000 to $206,000, a plunge of 5.8%. According to National Association of Realtors (NAR), this is the steepest drop in prices ever.According to […]
