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The average interest rate for a 30-year home fixed-rate mortgage fell to 4.71 percent, according to the Freddie Mac's Primary Mortgage Market Survey, released December 3.
As the Federal Reserve Bank applied its monetary contraction policy in 2005, many homeowners were stunned when their adjustable-rate mortgages began to reset to much higher rates in mid-2007 and their monthly payments jumped far above their ability to meet the monthly mortgage payments. Some homeowners began defaulting on their mortgages in mid ...
However, once interest rates began to rise and housing prices started to drop moderately in 2006–2007 in many parts of the U.S., borrowers were unable to refinance. Defaults and foreclosure activity increased dramatically as easy initial terms expired, home prices fell, and adjustable-rate mortgage (ARM) interest rates reset higher.
Taoiseach Brian Cowen informs Dáil Éireann that Ireland has 11.9% unemployment, with June's growth the slowest rate of increase since January. (RTÉ) Three staff from the British Embassy in Tehran , Iran , are released after being detained for allegedly having a role in the post-election protests.
Most real estate experts back the theory that the recent recovery in home sales is primarily due to two factors: mortgage rates that have been hovering around all-time lows and the government's ...
The average rate on the 15-year fixed mortgage rose to 6.10% from 6.02% last week. One year ago, the rate on the 15-year fixed note averaged 6.56%. Original article source: Mortgage demand jumps ...
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