Downgrades and Debt Concerns

The problems with the downgrade in U.S. Treasuries and the debt crisis here and abroad are adding another layer of uncertainty to an already uncertain marketplace right now. The main question for housing in particular is where mortgage rates are headed. S&P’s Downgrades US Treasuries and Fannie & Freddie… Standard & Poor’s downgraded the U.S. …

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Refi into ARM for faster mortgage payoff

One of the interesting features of the current mortgage scene is that some borrowers with adjustable-rate mortgages (ARMs) are refinancing into fixed-rate mortgages (FRMs), and some with FRMs are refinancing into ARMs. Exchanges with borrowers on both sides of this divide indicate that differences in opinion on where interest rates are headed have little bearing …

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Many homeowners refinancing mortgages to shorter terms

Borrowers who can afford higher mortgage payments, and who meet lenders’ stricter loan guidelines, often opt to replace their 30-year mortgages with shorter term loans at near-record low rates. Making sense of the story The latest Freddie Mac quarterly survey of homeowners who refinanced found that more than one in three borrowers who refinanced from …

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Mortgage Rates Head Higher This Week

For the second week in a row, mortgage interest rates have edged up, according to data released Thursday by Freddie Mac. The GSE’s chief economist attributed the rise to positive news on the economic front that suggests the recovery is gaining some traction and consumers are more confident in the job market. According to Freddie …

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