MoneyRates Blog
GuidetoLenders.com Provides Refinancing Tips for Homeowners
By MoneyRates team | Money-Rates Columnist
Mortgage rates continue to fall in 2009 providing refinancing opportunities for millions of Americans. The Freddie Mac weekly survey of lenders report last week that the national average on a 30-year fixed mortgage is 5.01% and 4.62% on a 15-year fixed mortgage. Unfortunately the refinancing process can seem intimidating and complex preventing some homeowners from [...]
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Freddie Mac Bailout Not Expected to Effect Hurricane Relief
By MoneyRates team | Money-Rates Columnist
This weekend it was announced that the Treasury Department will take over the operations of mortgage companies Freddie Mac and Fannie Mae to prevent mortgage-backed securities from defaulting and provide more stability to the nation’s real estate market. This news followed by less than one week the hurricane assistance initiative aimed at homeowners in the [...]
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Congress Bill Will Help Homeowners
By MoneyRates team | Money-Rates Columnist
A lot of media attention has been directed to the new legislation aimed at supporting the mortgage heavyweights Freddie Mac and Fannie Mae. While the cost of the bill to the US taxpayer has been hotly debated, the other parts of the bill aimed at the individual homeowner have been largely ignored. The bill which [...]
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Dire Prediction from ex-Chief Economist from IMF
By MoneyRates team | Money-Rates Columnist
Professor Kenneth Rogoff who was the chief economist for the International Monetary Fund for 5 years has issued some stark warnings about the banking and credit crisis in the United States which have reverberated around Europe and Asis. Among Rogoff’s predictions:
* A major bank in the United State will fail
* The financial crisis in the [...]
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Ginnie Mae, Fannie Mae, Freddie Mac - Who’s the riskiest?
By MoneyRates team | Money-Rates Columnist
A lot of newspaper headlines have covered the topic of the sub-prime mortgage market which has led to more speculation regarding the GSE’s (Ginnie Mae, Freddie Mac, and Fannie Mae) and the risk investors who own these pooled-mortgage securities will feel. First the basics though:
Fannie Mae and Freddie Mac are quasi-private firms chartered by Congress [...]
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