BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Save over $60,000 on your 30-year fixed mortgage]]>http://www.bloggingstocks.com/2008/12/27/save-over-60-000-on-your-30-year-fixed-mortgage/http://www.bloggingstocks.com/2008/12/27/save-over-60-000-on-your-30-year-fixed-mortgage/http://www.bloggingstocks.com/2008/12/27/save-over-60-000-on-your-30-year-fixed-mortgage/#commentsFiled under: , ,

Some interest rates have fallen to near zero and following this trend home mortgage rates are at their lowest level in 37 years, falling to 5.19% last week. So with this good news mortgage refinance applications are surging this week also. Let's take an example and assume you had a 30-year fixed mortgage at 6.5%. Using a mortgage calculator (www.mortgagecalculator.org) your payment was $1347.00 per month (excluding taxes and PMI). By refinancing at today's rate of 5.19%, a 30-year fixed mortgage would cost $1180.00 per month (excluding taxes and PMI), for a savings of $60,120.00 (360 payments).

The new low rates we have now will likely slow foreclosures by letting homeowners lower their monthly payments and keep their homes. So with all the turmoil we've seen this year, this is a bit of good news. Let's hope that the trend to lower mortgage rates continues and we can save even more money.

Save over $60,000 on your 30-year fixed mortgage originally appeared on BloggingStocks on Sat, 27 Dec 2008 14:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>low ratesLowRatesmortgage refinanceMortgageRefinancesaving moneySavingMoneySat, 27 Dec 2008 14:00:00 EST<![CDATA[Ending home foreclosure rise seen as one key factor in stabilizing financial system ]]>http://www.bloggingstocks.com/2008/10/17/ending-home-foreclosure-rise-seen-as-one-key-factor-in-stabilizi/http://www.bloggingstocks.com/2008/10/17/ending-home-foreclosure-rise-seen-as-one-key-factor-in-stabilizi/http://www.bloggingstocks.com/2008/10/17/ending-home-foreclosure-rise-seen-as-one-key-factor-in-stabilizi/#commentsFiled under: , , ,

Economist Allen Sinai, founder of Decision Economics, Friday underscored a dimension of the financial crisis that appears to be getting short-shrift: namely, that U.S. home foreclosures continue to erode the asset base of the U.S. financial system.

Efforts by the Fed, ECB and other major central banks to keep credit markets supplied with dollars, as well as bank recapitalization efforts, are critical to ending the financial crisis, but they won't achieve their goal if more is not done to get at the root cause of the crisis: mortgage foreclosures, economists generally agree.

As Sinai and BloggingStocks' Peter Cohan have noted, home foreclosures are the source of the bad bond problem -- at once both turning selected mortgage backed securities to notes barely worth the paper they're printed on and also weakening banks' balance sheets.

FHA, others must move 'at full-speed on refinances'

Further, economist Richard Felson said it's time for federal officials, in the Federal Housing Authority, Fannie Mae (NYSE: FNM), and Freddie Mac (NYSE: FRE) to "move at full-speed and get as many at-risk mortgages refinanced at lower, fixed rates."

Continue reading Ending home foreclosure rise seen as one key factor in stabilizing financial system

Ending home foreclosure rise seen as one key factor in stabilizing financial system originally appeared on BloggingStocks on Fri, 17 Oct 2008 15:50:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>banking sectorbanksbond marketCongresscredit marketsECBFedFederal Housing AdministrationFHAforeclosuresgdphousinginterest ratesinthenewsmortgage backed securitiesmortgage refinancemortgagesU.S. economyFri, 17 Oct 2008 15:50:00 EST<![CDATA[Early holiday present: Subprime package seen likely]]>http://www.bloggingstocks.com/2007/11/30/early-holiday-present-subprime-package-seen-likely/http://www.bloggingstocks.com/2007/11/30/early-holiday-present-subprime-package-seen-likely/http://www.bloggingstocks.com/2007/11/30/early-holiday-present-subprime-package-seen-likely/#commentsFiled under: , , , , ,

U.S. Treasury Secretary Henry Paulson is negotiating an agreement with banks and other lenders to limit the surge in foreclosures by fixing interest rates on loans to subprime borrowers, people familiar with the Thursday meeting said, Bloomberg News reported.

"We've all agreed that there should be some sort of standardized approach to reaching more homeowners faster," U.S. Treasury Department spokeswoman Jennifer Zuccarelli told The Associated Press.

Subprime mortgages worth about $362 billion are expected to reset to higher interest rates in 2008, according to BusinessWeek magazine.

Market chatter Friday speculated on the plan's form, with no consensus readily emerging so far. Some Wall Street analysts expect Paulson's plan to focus on middle-income loans, excluding higher-income borrowers on the belief that they will able to obtain better terms themselves, and excluding lower-income borrowers who would not be able to afford their mortgage, even after a refinancing. Other analysts suggested that the plan may be more encompassing -- "capping" or limiting interest resets to predetermined rates.

Continue reading Early holiday present: Subprime package seen likely

Early holiday present: Subprime package seen likely originally appeared on BloggingStocks on Fri, 30 Nov 2007 14:22:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>banking sectorbanksbond marketcredit marketfeaturedHenry Paulsonhome priceshousinghousing correctioninterest rateslendersMedianHomePricesmortgage defaultsmortgage lendersmortgage refinancemortgagesPaulsonsubprimesubprime mortgagesU.S. economyU.S. Federal ReserveU.S. Treasury DepartmentFri, 30 Nov 2007 14:22:00 EST