30-Year Rates Dip Back Below 6% Rates on 30-year mortgages this week dropped below 6 percent for the first time in more than a month, reflecting aggressive efforts by the Federal Reserve to cut interest rates
UPDATE 1-ANZ: mortgage rates may rise if squeeze persists (Reuters Finance News, Australia via Yahoo!7 Finance) MELBOURNE, Sept 11 (Reuters) - Australia and New Zealand Banking Group Ltd ANZ.AX, Australia's third-biggest lender, said on Tuesday it may have to raise mortgage rates if the higher cost
Summit County announces 17 indictments in mortgage lending scheme (The Plain Dealer) Summit County officials rolled back part of the national mortgage crisis Thursday with the announcement of 17 indictments stemming from a lending scheme that preyed on hundreds of local homeowners.read
New Mortgage Funding Plan Holds Lenders Accountable (Investor's Business Daily via Yahoo! Finance) In the mortgage-finance market, something old is new again.read more...
Data point to uncertainty in US housing Policymakers and bond market investors alike appear more confident about the resilience of the broad US economy in 2007, with its still-thriving service sector, strong jobs market and improving exports.Commentread
Mortgage lender goes bankrupt; investors say they are 'stunned' Investors say they are stunned, angry and frustrated at Las Vegas-based USA Capital, a short-term mortgage lender that filed for bankruptcy protection last week.read more...
Appropriate for older borrowers who are “house rich” but cash poor, a reverse mortgage allows a homeowner to borrow against the equity in his home. The homeowner receives tax-free payments until the total payout reaches the credit limit established by the equity in the home.
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