Posted on April 2nd, 2008 by Bright Light
While the Fed focuses on bailing out banks that are at risk of going under thanks to the housing crisis, members of Congress are focusing on helping out overwhelmed home mortgage holders who are at risk for losing their homes. Although many have derided the plan, stating that people who took out a home mortgage […]
Posted on April 2nd, 2008 by Bright Light
Experts in the UK are warning those who need to get a fixed rate mortgage that they’d best move quickly, before rates get any higher. Just today, the Royal Bank of Scotland announced that they would be raising their fixed rate mortgage interest rates yet again and other banks are expected to follow suit. In […]
Posted on April 2nd, 2008 by Bright Light
In an attempt to help quality providers of home mortgages, Hillary Clinton is calling for protection that would keep investors from suing the companies. During a speech today that centered around the housing market, Clinton made several key points on how she believes the market can be fixed. In brief, she wants increased availability of […]
Posted on April 2nd, 2008 by Bright Light
Despite being advantageous for consumers, the amount of applications for fixed rate mortgages declined sharply over the past few weeks. Analysts are blaming the plunge on a variety of different reasons, including the poor housing market, banks tightening their restrictions and overall consumer uncertainty. Even applications for a refinance fixed rate mortgage declined, much to […]
Posted on April 2nd, 2008 by Bright Light
Despite six interest rate cuts from the Fed since September, home owners are finding that interest rates on their home mortgages are actually going up. This is also affecting those who need to get a home mortgage. “We spend a lot of time telling people it’s not the right time,” said Gus Pasquale, co-founder of […]
Posted on April 2nd, 2008 by Bright Light
Despite allegations that the FBI is investigating Countrywide for possible home mortgage fraud, the Bank of America is planning to go ahead with their bid to buy the floundering company. “Nothing I’ve seen suggests that Bank of America is backing off,” says Tom Atteberry, a partner at Los Angeles- based First Pacific Advisors LLC, which […]
Posted on April 2nd, 2008 by Bright Light
In an effort to shore up the failing housing market, the Federal Reserve announced today that they would be slashing the interest rate again, this time by three-quarters of a point, which is good news for those with fixed rate mortgages. However, despite the best efforts of the Fed, the rates don’t seem to be […]