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Mortgage Applications Down Last Week-MBA
NEW YORK (Reuters) - Applications for U.S. home mortgages decreased last week as rising interest rates led to a sizable decrease in refinancing activity and purchasing, an industry group said on Wednesday. "The increase in mortgage rates has reduced application activity across the board, particularly for refinances. Refinance applications are down more than 60 percent relative to this time last year," Michael Fratantoni, MBA's senio... : Mortgage Applications Down Last Week-MBASnow Warns Fannie, Freddie Pose Threat
By Kristin Roberts WASHINGTON (Reuters) - Mortgage giants Fannie Mae and Freddie Mac could threaten the economy if Congress fails to curb their investment activities, U.S. Treasury Secretary John Snow said on Thursday. In a second day of hearings before the U.S. Senate Banking Committee on the hot political issue of how to rein in government-sponsored enterprises, Snow told Congress to limit the size of the ... : Snow Warns Fannie, Freddie Pose ThreatCLOSED MORTGAGES / FIXED RATE MORTGAGES
The expression 'closed mortgage' originates from the 1980's when this type of mortgage was literally 'closed'. You contracted to the lender to make your payments for the term chosen, you could not pay anything additional, nor could you pay off the entire amount for any reason except the sale of your property. These days, there are many ways to pay down your mortgage principal quicker, though the name 'closed' mortgage still remains. See pre-payment options for ways to pay off your m... : CLOSED MORTGAGES / FIXED RATE MORTGAGESStocks Drop as Fed Cites Inflation
NEW YORK (Reuters) - U.S. stocks tumbled on Tuesday as investors were unnerved by comments from the Federal Reserve that inflation pressures had picked up, sparking fears of more aggressive rate hikes ahead and pushing the major indexes down to multi-week lows.. The Fed, as expected, raised rates by a quarter point -- its seventh increase since last June. The Fed's comments about inflation pushed U.S. benchmark Treasury yields to their h... : Stocks Drop as Fed Cites InflationU.S. 30-, 15-Year Mortgage Rates Rise
WASHINGTON (Reuters) - Interest rates on U.S. 30-year and 15-year mortgages edged higher this week amid signs the economy is improving, stoking inflation concerns, mortgage finance company Freddie Mac said on Thursday. U.S. 30-year mortgage rates rose to an average of 5.82 percent in the week to Oct. 7, up from 5.72 percent a week earlier. Freddie Mac said 15-year mortgages averaged 5.24 percent this week, compared with 5.12 perce... : U.S. 30-, 15-Year Mortgage Rates Rise
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