MoneyRates Blog
Time to Refinance?
By MoneyRates team | Money-Rates Columnist
The time to refinance home loans is here for millions of Americans as mortgage rates have dropped to their lowest rates in over 35 years. Although rates on 15-year fixed and 30-year fixed mortgages are lower, the process to be approved for a loan is more cumbersome than in the past. For borrowers with very [...]
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Bank Lending Tightens Further According to Fed Survey
By MoneyRates team | Money-Rates Columnist
The quarterly survey of senior loan officers conducted by the Federal Reserve has been released with a common theme of tightening standards by US banks. The survey revealed that:
62% of banks tightened standards on prime mortgages49% of banks reduced demand for mortgages78% of banks tighted standards on subprime mortgages of the 17% of banks that [...]
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Home Equity Loan Rates from Wachovia Bank
By MoneyRates team | Money-Rates Columnist
The Savings Investor has been tracking home equity loan rates closely following the decrease in short term interest rates by the Fed. And while national averages are down as expected, we are taking a look at how fixed-rate home equity loan rates have fared. We have used a sample borrower who has a $400,000 house [...]
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