Economics
Mortgages and Refinancing
Mortgage rates have dropped 10 times in the past eleven weeks. Nationwide mortgage buyer Freddie Mac reports both 30-year and 15-year loans are at their lowest in decades.
Mortgages: Fixed-rate mortgages, 5-year ARMs hit record low
Fixed-rate mortgages and 5-year ARMS are at record lows this week.
Singapore Tightens Mortgages to Cool Property Market
Singapore increased down payments for second mortgages and imposed a stamp duty on property held for less than three years to curb speculation after home prices surged 38 percent in the second quarter.
Rethinking Adjustable-Rate Mortgages
With the economy still weak, borrowers may want to hold onto their adjustable-rate mortgages a little longer.
Summary Box: Underwater mortgages in US fell in 2Q
SLIGHT DECLINE: Real estate data provider CoreLogic says the number of U.S. homes with mortgages that exceed what the properties are worth fell slightly between the second quarter and the first three months of this year. It’s the second consecutive quarterly decline.
Mortgages: Fixed mortgage rates fall in nine of past 10 weeks
Rates on fixed-rate mortgages hit another low this week, after recent reports showed drops in existing- and new-home sales, according to Freddie Macs weekly survey.
Mortgages stable while state of government uncertain
THE election cliff-hanger is expected to delay any rise in interest rates on mortgages by banks, despite the increasing pressure on their margins from the rising cost of funds.
Repeat defaults by borrowers with recently modified mortgages falling, group finds
BOSTON – Homeowners who had mortgages modified recently are faring better than those who did so earlier in the housing crisis, according to a report released Tuesday, possibly debunking predictions of a huge wave of defaults to come.
Reverse mortgages worth a thought
WITHOUT the backing of compulsory superannuation contributions, many may consider a reverse mortgage as a source of additional retirement income.
Spencer family’s Equitable Mortgages latest to get downgrade
The Spencer family’s finance unit, Equitable Mortgages, is the latest in a flurry of credit rating downgrades announced today.
