Personal Finance Blog By MoneyRates - Mortgage

Should you be trying to pay off your mortgage?

June 13, 2011

While it might be nice not to have a house payment, your money might be better off if you left it in tax-deferred savings accounts.

Current mortgage rates under pressure from multiple sources

March 15, 2011

Current mortgage rates are at unusually low levels that can't be expected to continue the way market developments are trending.

Current mortgage rates won't survive the demise of Fannie and Freddie

March 10, 2011

Mortgage rates have been kept low by government backing of Fannie Mae and Freddie Mac, but this has been too expensive to continue.

New "Saver" reverse mortgage offers lower borrowing costs

February 11, 2011

Although reverse mortgages--getting the bank to pay you when you're 62 or older for the equity you've built up in your home--have always sounded like a great idea, the high fees have often discouraged people from taking advantage of them. They figure it's cheaper to live off of their money market accounts or savings accounts. The [...]

Is the housing market taking a double dip?

December 28, 2010

The dreaded double-dip could be upon us--at least as far as the housing market is concerned, according to home price data released Dec. 28 by Standard & Poor's for its S&P/Case-Shiller Home Price Indices. Home prices in 20 major metropolitan areas fell in October from September, and a composite index of 20 major cities fell 0.8 [...]

Mortgage rates climb

December 21, 2010

Following seven months of decline, mortgage rates are creeping up again. Both 15- and 30-year fixed mortgage rates rose for the fifth straight week, according to Freddie Mac's mortgage market survey for the week ending Dec. 16. The average 30-year fixed mortgage rate was 4.83 percent with an average 0.7 point, up from the previous week's average [...]

Job creation is up: hope amid depressing unemployment news

December 7, 2010

In the wake of the U.S. Department of Labor's depressing jobs report for November, Gallup's Job Creation Index provides a glimmer of hope. According to the index, job creation reached its highest level in November in more than two years. The nationwide index hit a positive 11, the best reading since September 2008, Gallup said. The [...]

A new tool to help you take advantage of current mortgage rates

November 3, 2010

A new refinance calculator makes it easier to compare the costs of different refinancing options

Cash-out mortgage refinancing hits a record low

November 2, 2010

Not so long ago financial experts chided consumers for using their homes as ATM machines by doing cash-out mortgage refinance loans. Keeping debt levels lower with less cash-outs It took the collapse of the housing market and tighter lending standards though to change the trend. Last quarter, just 18 percent of homeowners who refinanced their [...]

Why didn't more economists predict the housing market collapse?

October 26, 2010

With the 20-20 vision that hindsight provides, the collapse of the housing market two years ago seems like something economists should have seen coming. So why didn't many of them? A recent public policy paper for the Federal Reserve Bank of Boston sheds some light on the question. In "Reasonable People Did Disagree: Optimism and [...]
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