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1968 California Special GT/CS - Front View. In mid-February 1968, the California Ford Dealers (Ford Dealer Advertising Fund) began to market a factory-built, limited-edition Mustang, called the GT/CS, or "California Special". The hope was for a targeted production run of 5,000; however, only 4,118 were made, including 251 units that were ...
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.
IndyMac's aggressive growth strategy, use of Alt-A and other nontraditional loan products, insufficient underwriting, credit concentrations in residential real estate in the California and Florida markets, and heavy reliance on costly funds borrowed from the Federal Home Loan Bank (FHLB) and from brokered deposits, led to its demise when the ...
For Ryan, mortgage rates would have to fall below 5% to see a full recovery, he’s previously said. On the other hand, new-home sales , which have generally outperformed existing-home sales, rose ...
The average rate on a 30-year fixed mortgage fell to 6.99% from 7.03% a week prior, according to Freddie Mac. Rates have hovered around 7% all year. Rates have hovered around 7% all year.
The average rate on a 15-year fixed-rate mortgage, popular with homeowners seeking to refinance, climbed to 6.13%, up from 6% and also the highest since July. It was at 5.89% a year ago.
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