Ten years ago, many homeowners were desperately hoping to hang on to their homes. Others were doing everything they could just to scare up potential buyers. Meanwhile, said buyers were struggling to get financing from newly skittish lenders. Ah, memories. What a difference a decade makes! It has, in fact, been the most consequential […]
New Study: Down-Payment Assistance
Receiving financial assistance with a down payment won’t increase the chances of a home owner defaulting on their mortgage, according to a new study. A new working paper prepared for the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis examined the performance track record for loans made with some form of down-payment […]
That Superlow Mortgage Rate? It Could Be Even Lower
Interest rates have been plummeting, but the cost of taking out a mortgage hasn’t fallen as fast. Falling rates are usually a boon to the housing market, since that typically lowers the interest rates that lenders offer on mortgages. Borrowers can then buy homes or refinance their existing mortgages at a lower monthly cost. But they […]
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