WASHINGTON — The Federal Home Loan Bank system won permission Monday to double the amount of capital that it can spend to purchase mortgage bonds in an effort to boost home lending and revive the nation’s housing market.
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March 30 2008 | Home Loan Mortgage Blog | No Comments »
When she stopped by a Wachovia branch in Charlotte last month, Marilyn O’Connor asked about refinancing her townhome. Instead, she got a pitch for a “Pick-A-Payment” mortgage that offered flexible payment options but a higher interest rate. O’Connor said she initially agreed to apply for a Pick-A-Payment loan until she learned the interest rate. The full principal and interest payment option had …
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March 30 2008 | Home Loan Mortgage Blog | No Comments »
Home buyers are still leaping into no-deposit mortgages, despite warnings the housing market may drop more than 10 per cent in the next year, potentially leaving them with a loan worth more than their home.
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March 29 2008 | Home Loan Mortgage Blog | No Comments »
No less than five mortgage lenders have hiked up their rates this week. Find out how to get your hands on the cheapest remaining deals, and follow our three easy steps to beat the rate rises.
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March 28 2008 | Home Loan Mortgage Blog | No Comments »
The Federal Home Loan Bank system can increase purchases of Fannie Mae and Freddie Mac securities by $100 billion over two years in the latest government effort to stabilize the devastated market for mortgage-backed assets. The 12 regional banks in the…
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March 25 2008 | Home Loan Mortgage Blog | No Comments »
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March 25 2008 | Home Loan Mortgage Blog | No Comments »
The Federal Home Loan Bank system can increase purchases of Fannie Mae and Freddie Mac securities by $100 billion over two years in the latest government effort to stabilize the devastated market for mortgage-backed assets.
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March 24 2008 | Home Loan Mortgage Blog | No Comments »
Leeds Building Society has launched its new two-year fixed rate mortgage at 5.99% with unlimited capital repayments.
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March 24 2008 | Home Loan Mortgage Blog | No Comments »
Most financial decisions require trade-offs. If you want to earn better-than-average returns in the stock market, for example, you need to tolerate above-average risk. Similarly, an adjustable-rate mortgage offers lower initial payments than a fixed-rate mortgage. But if interest rates rise, you and your furniture could end up on the sidewalk.
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March 23 2008 | Home Loan Mortgage Blog | No Comments »
Mounting foreclosures and the subprime mortgage crisis have contributed to a national credit crunch, making it more difficult for borrowers to qualify for a mortgage loan. Standards for home mortgages also are getting tougher in Wisconsin, especially for loans that banks pass on to national mortgage wholesalers. Recent changes in Wisconsin lending standards include: The minimum FICO credit score …
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March 23 2008 | Home Loan Mortgage Blog | No Comments »