This type of loan is fast gaining popularity as a means for seniors to supplement their retirement funds. Though still a relatively new type of loan and occupying a small niche, it looks set to become a major part of the lending industry in the coming years. Indeed, it’s easy to see why, as many seniors derive great benefits from a HUD reverse mortgage, but one should also bear in mind that there are also some downsides. (more…)
There is great pressure on mortgage interest rates. The major economic factors affecting interest rates are pointing at rates to rise in the near future. Mortgage rates predictions, though, must take into account the political pressures of an election year in the wake of the subprime mortgage crisis. (more…)
Any day now the President is expected to sign into law the Housing and Recovery Act of 2008. There are big changes in store with the passage of this act, changes which have the potential for sweeping effects across the mortgage and real estate industries.
Last Week: Another week of whipsaw action in the mortgage bond markets has passed. Early in the week, mortgage bonds were hammered by comments from Philly Fed President Plosser, then recovered ground Thursday on weak economic data, only to sell off again on Friday. All told, mortgage rates actually closed out the week very slightly better than they opened, but it was a white knuckle ride all the way. This Week: Anchoring a busy economic calendar is Friday’s July employment report. As always, the non-farm payrolls report is a key measure of economic health, and can drive mortgage rates. It is e (more…)