MoneyRates Blog
Will We Get Stress Tests from our Lenders?
By Clark Schultz | Money-Rates Columnist
The whole idea of a stress test on a financial institution seems prudent. Doubly-so when that institution is receiving taxpayer money. The stress test is supposed to tell us if a bank is prepared for disaster. We found out recently that some banks passed and some banks failed when put under the microscope. We are [...]
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Short-Term Adjustable Mortgage Rates Now Higher Than 30-Year Fixed Rates
By Clark Schultz | Money-Rates Columnist
The weekly survey of mortgage lenders conducted by Freddie Mac is reporting that the average rate on a shorter-term adjustable-rate mortgage is now higher than fixed mortgages of 15 or 30 years. This is the first time since Freddie Mac started the survey over 20 years ago that the mortgage rate curve has been inverse. Adjustable Rate Mortgages (ARM)’s are mortgages [...]
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Lower Interest Rates Make Reverse Mortgages More Attractive
By Clark Schultz | Money-Rates Columnist
A reverse mortgage allows senior citizens, of at least the age of 62, to convert equity from their principal residence to cash. Similar to a normal mortgage, lower interest rates help make the mortgage more affordable. The Federal Reserve’s significant pledge to buy more than a $1 trillion worth of mortgages securities is expected to [...]
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Mortgage Rates to Lowest Level in 37 Years
By MoneyRates team | Money-Rates Columnist
Freddie Mac reported that the average rates on fixed mortgages fell to 5.19% on a 30-year loan and 4.92% on a 15-year loan which marks the lowest level since the Freddie Mac lender surveys began in the early 1970s. The ability to refinance a mortgage loan at lower rates is better for homeowners who have [...]
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