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reverse mortgage
A reverse mortgage is a loan against the equity in the home that provides tax-free cash advances, but requires no payments during the term of the loan. Since there are no monthly payments during the life of the loan, the balance grows larger and the equity gets smaller.The loan is not due and payable until the borrower no longer occupies the home as a principal residence, e.g. the last surviving borrower sells, moves out permanently or passes away.You must be at least ... : reverse mortgageHousing starts up, jobless claims rise
By Kristin Roberts WASHINGTON (Reuters) - U.S. housing starts rose in May, but fell shy of expectations, while a separate report on Thursday showed the number of Americans filing new claims for unemployment benefits edged higher. May housing starts increased 0.2 percent to a 2.009 million unit rate from a downwardly revised 2.005 million unit pace in April, the U.S. Commerce Department said. Wall Street economists had expected housing starts to increase 0.5 percent in May to ... : Housing starts up, jobless claims riseExisting Home Sales Fall 0.4 Pct in Feb.
WASHINGTON (Reuters) - Sales of existing U.S. homes fell 0.4 percent in February, while home prices rose at double-digit rates, a trade association report showed on Wednesday. Sales of previously owned homes declined to a seasonally adjusted annual rate of 6.79 million units last month, the National Association of Realtors said. That figure includes both single-family homes and condominiums. Single-family home sales slid 0.3 percent in February to a 5.94 million unit rate from a 5.... : Existing Home Sales Fall 0.4 Pct in Feb.Treasuries Brace for Auction
NEW YORK (Reuters) - Short-dated U.S. Treasuries were under modest pressure on Tuesday as traders, uneasy about the health of foreign demand, cheapened prices into a $22 billion auction of new three-year government debt. The last three-year sale in November attracted bids worth a relatively high 2.24 times the amount on offer, but more recent auctions of two- and five-year debt have not done so well. "The first auction of the refunding will ... : Treasuries Brace for AuctionRate Hike on Tap at Fed's Final 2004 Meet
By Tim Ahmann WASHINGTON (Reuters) - Federal Reserve officials are set to jack up interest rates on Tuesday for a fifth time this year, confident the U.S. expansion is self-supporting and no longer in need of rock-bottom borrowing costs for a boost. Fed officials are set to gather at 9 a.m. EST and are expected to announce their decision on interest rates around 2:15 p.m. Economists are united in the view that the U.S. cent... : Rate Hike on Tap at Fed's Final 2004 Meet
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