Low Mortgage Rates Spark Refinancing Rush
Mortgage rates have hit an all-time low according to Freddie Mac's Primary Mortgage Market Survey. The drop has done little to help new home sales, but it did cause a surge in refinancings.
FreddieMac
Homeowners Move Away From 30-Year Mortgages
With the historically low interest rates, many homeowners with 30-year mortgages have been leaving their loans for younger models. According to a new report from Freddie Mac, more homeowners are refinancing into 15- and 20-year mortgages than ever before.
Big Banks May Have to Pay for Fannie and Freddie
Banks are up in arms over language added to the proposed financial regulation overhaul that would make big financial firms shoulder some of the cost if government-backed mortgage lenders Fannie Mae and Freddie Mac go bust.
