It’s important to remember that mortgage companies are just trying to protect themselves. They want to make sure that, whether or not you can make your mortgage payments, they will get paid. One way they can feel more secure is if you take on a cosigner who has substantial assets or a much higher credit score or income than your own.
(LA Times) — When the Federal Reserve recently rolled out its plan to pump $600 billion into the credit markets, many homeowners and buyers might have figured that because mortgage interest rates are now likely to fall again, why not postpone the loan application they were contemplating? Fed Chairman Ben S. Bernanke offered implicit support for that […]
(Reuters) – U.S. mortgage rates reached new record lows in the latest week as economic data raised the appeal of safe-haven government debt, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company. While rock-bottom rates offer a glimmer of hope for a housing market struggling to find footing […]
(Smart Money) — A mortgage with an interest rate lower than 4% may have seemed like a pipedream during the housing boom five years ago, but plenty of Americans are locking them down in August. Could they be kicking themselves in September? With mortgage rates hovering near 40-year lows and selling prices still depressed, many potential […]