Posts Tagged ‘fixed-rate’
The Irony of Low Interest Rates
March 4th, 2010 | 
Author: 
Want to refinance your home to take care of historically low interest rates? Hold your horses. Read the rest of this entry »
If you enjoyed this post, make sure you subscribe to my RSS feed!
Posted in Banking & Finance, Economy | 
Tags: borrowers, Credit Suisse, fixed-rate, homeowners, interest rates, low intrest rates, LTV, mortgages, prepayment rates, refinance, refinancing, securitization, WSJ | 
No Comments »
Shame Mongering
For decades government policy has been to encourage lenders to provide mortgage loans to lower-income families. When mortgage brokers refused to make such loans because the risk was too high compared to the interest rates they could charge and still expect repayment, they were accused of discrimination. Now low-income borrowers, enabled by the policies of the federal government (I fall into this category with my 96.5% loan to value FHA loan), are in a bind. As has become expected of this administration, politicians are seeking to punish the lenders.
In the Sunday edition of the New York Times an article title “U.S. To Pressure Mortgage Firms For Loan Relief” quotes Treasury’s assistant secretary for financial institutions as saying, “The banks are not doing a good enough job. Some of the firms ought to be embarrassed, and they will be.”
Is this the Treasury, or a group of thugs? Read the rest of this entry »
If you enjoyed this post, make sure you subscribe to my RSS feed!
