Personal Finance Articles
By Alan Zibel -- AP Real Estate Writer
WASHINGTON (AP) — Falling home prices have forced the government to ask Congress for a $798 million taxpayer subsidy to prop up a program that lets senior citizens tap the equity in their homes.
By Alan Zibel -- AP Real Estate Writer
WASHINGTON (AP) — Fannie Mae issued a grave warning about its future, saying it needs $19 billion in additional government aid as job losses grow and risky loans made during the housing boom go bad at an unnerving pace.
By Brian O’Connell
It’s spring, a time when economic indicators take a back seat to the calendar, and a time when mortgage rates historically rise again.
By manybanking.com Staff
You bought at the top of the market and used an adjustable rate mortgage (ARM) to finance your loan. You figured you would just refinance when the fixed rate period was over. But now that home prices have fallen so dramatically, it’s harder to refinance. So what do you do if your ARM is about to reset?
By Brian O’Connell
The Federal Reserve may not have moved interest rates last week, but it has continued an oft-overlooked program that has kept downward pressure on mortgage rates. It’s all about buying mortgage-backed securities -- $1.25 trillion’s worth.
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