FDIC Asks Banks to Report on How They Spent TARP Funds One of the biggest scandals of the economic bailout bill passed last fall has to with how the $350 billion set aside for banks through TARP funds was spent. The money was meant to be spent in helping Americans avoid foreclosure. It was supposed [...]
Latest News in Refinancing Home Mortgages – Jan 15, 2009
January 15, 2009 By Leave a Comment
Benchmark US mortgage rates hit record low – Financial Times The average rate for benchmark US mortgages fell to a record low level last week, according to the Mortgage Bankers Association. The 30-year fixed home loan rate averaged 4.89 per cent, below the previous all-time low of 4.99 per cent set in June … Mortgage [...]
Latest News in Mortgages and Home Loans- Jan 13, 2009
January 13, 2009 By Leave a Comment
Latest News in Refinancing Home Mortgages – Jan 08, 2009
January 8, 2009 By Leave a Comment
Paulson calls for replacing Fannie/Freddie – Birmingham Business Journal Outgoing U.S. Treasury Secretary Henry Paulson reflected on the downfall and future of embattled mortgage giants Fannie Mae and Freddie Mac in a speech before the Economic Club of Washington on Wednesday. He argued that there was widespread … Mortgage rates hit record low again – [...]
Latest News in Mortgages and Home Loans- Jan 06, 2009
January 6, 2009 By Leave a Comment
Mortgage Rates May Be Low, But That Doesn?t Mean You?ll Be Approved Right now, the big news is that mortgage rates are at their lowest in years. It is no surprise, then, that mortgage applications are way up — especially in terms of refinancing. (One of my goals for the New Year is to refinance [...]
How to Bargain for the Best Equity Rates
January 2, 2009 By Leave a Comment
How to Bargain for the Best Equity Rates Everybody loves a good bargain, so why, when it comes to mortgage rates — on likely the biggest purchase you’ll every make — should things be any different? Still, many of us are intimidated by the idea of haggling with big financial institutions or digging in our [...]
Latest News in Refinancing Home Mortgages – Dec 25, 2008
December 25, 2008 By Leave a Comment
Mortgage rates drop to lowest in 37 years – Economic Times NEW YORK : Interest rates on US 30-year fixed-rate mortgages dropped to their lowest level in 37 years this week, largely due to an unprecedented intervention by the Federal Reserve, according to a survey released on Wednesday by home funding company … Mortgage refinancing [...]
Latest News in Mortgages and Home Loans- Dec 23, 2008
December 23, 2008 By Leave a Comment
Bush Administration to End FHA Secure, Despite Calls for Continuation One of the programs that many mortgage industry and related groups has been fairly happy with has been FHA Secure. FHA Secure is a program that the Bush Administration put into practice back in August of 2007 when the first hints of a massive subprime [...]
Choosing a Fixed or ARM Option
December 23, 2008 By Leave a Comment
Choosing a Fixed or ARM Option A fixed rate mortgage has the same payment for the entire term of the loan. The Option ARM uses a low initial rate to calculate your initial minimum monthly payment. Although the interest rate will increase after 1 to 3 months, your low payment will remain fixed for the [...]
Latest News in Refinancing Home Mortgages – Dec 18, 2008
December 18, 2008 By Leave a Comment
Calls to refinance surge – Canton Repository Mortgage brokers reported a surge of calls from borrowers seeking to take advantage of the Fed?s extraordinary decision Tuesday to lower their prime lending rates from 4 percent to 3.25 percent. Some brokers were quoting mortgage rates of close to … Borrowers rushing to refinance loans as rates [...]
